Kennametal Inc. (NYSE:KMT) Given Average Recommendation of “Reduce” by Brokerages

Kennametal Inc. (NYSE:KMT) has been assigned an average recommendation of “Reduce” from the eight analysts that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $24.00.

A number of brokerages have recently weighed in on KMT. Zacks Research raised shares of Kennametal from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. JPMorgan Chase & Co. upped their price target on shares of Kennametal from $20.00 to $22.00 and gave the stock an “underweight” rating in a report on Tuesday, October 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kennametal in a report on Wednesday, October 8th. Finally, UBS Group raised shares of Kennametal from a “sell” rating to a “neutral” rating and upped their price target for the stock from $19.00 to $21.00 in a report on Friday, August 15th.

Hedge Funds Weigh In On Kennametal

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mackenzie Financial Corp grew its holdings in Kennametal by 557.1% during the 1st quarter. Mackenzie Financial Corp now owns 77,877 shares of the industrial products company’s stock valued at $1,659,000 after buying an additional 66,025 shares in the last quarter. Ieq Capital LLC purchased a new position in shares of Kennametal in the first quarter valued at $307,000. Janney Montgomery Scott LLC grew its holdings in shares of Kennametal by 17.8% in the first quarter. Janney Montgomery Scott LLC now owns 13,242 shares of the industrial products company’s stock valued at $282,000 after purchasing an additional 2,000 shares in the last quarter. Nuveen LLC purchased a new position in shares of Kennametal in the first quarter valued at $3,949,000. Finally, Northern Trust Corp grew its holdings in shares of Kennametal by 8.4% in the first quarter. Northern Trust Corp now owns 1,077,284 shares of the industrial products company’s stock valued at $22,946,000 after purchasing an additional 83,568 shares in the last quarter.

Kennametal Stock Up 0.6%

Kennametal stock opened at $22.82 on Thursday. The firm has a market capitalization of $1.74 billion, a PE ratio of 19.02, a P/E/G ratio of 3.80 and a beta of 1.46. The company’s 50-day moving average is $21.53 and its 200-day moving average is $21.85. Kennametal has a fifty-two week low of $17.30 and a fifty-two week high of $32.18. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.46 and a quick ratio of 1.19.

Kennametal (NYSE:KMT) last posted its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.06). The business had revenue of $516.45 million during the quarter, compared to the consensus estimate of $527.52 million. Kennametal had a net margin of 4.73% and a return on equity of 8.09%. The business’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.49 EPS. Sell-side analysts anticipate that Kennametal will post 1.17 earnings per share for the current year.

About Kennametal

Kennametal Inc engages in development and application of tungsten carbides, ceramics, and super-hard materials and solutions for use in metal cutting and extreme wear applications to enable customers work against corrosion and high temperatures conditions worldwide. The company operates through two segments, Metal Cutting and Infrastructure.