Kennametal (NYSE:KMT) Stock Rating Lowered by StockNews.com

Kennametal (NYSE:KMT) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Several other research analysts have also recently weighed in on KMT. Barclays boosted their price target on Kennametal from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Bank of America downgraded shares of Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 price target on the stock. in a report on Friday, October 18th. Finally, Loop Capital lifted their price target on shares of Kennametal from $22.00 to $24.00 and gave the stock a “hold” rating in a research note on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $24.60.

Kennametal Price Performance

KMT opened at $29.48 on Thursday. Kennametal has a 1 year low of $22.43 and a 1 year high of $32.18. The stock has a 50-day moving average price of $25.68 and a 200-day moving average price of $25.03. The firm has a market cap of $2.30 billion, a PE ratio of 23.03, a P/E/G ratio of 3.48 and a beta of 1.64. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.52 and a quick ratio of 1.17.

Kennametal (NYSE:KMT) last announced its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.04. Kennametal had a net margin of 4.98% and a return on equity of 8.35%. The company had revenue of $481.90 million during the quarter, compared to the consensus estimate of $485.26 million. During the same quarter last year, the firm earned $0.41 earnings per share. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. Sell-side analysts predict that Kennametal will post 1.43 earnings per share for the current fiscal year.

Institutional Trading of Kennametal

Several large investors have recently added to or reduced their stakes in the business. Intech Investment Management LLC bought a new position in Kennametal in the third quarter worth approximately $555,000. Quest Partners LLC increased its stake in shares of Kennametal by 2,429.9% in the 3rd quarter. Quest Partners LLC now owns 46,929 shares of the industrial products company’s stock worth $1,217,000 after purchasing an additional 45,074 shares in the last quarter. Natixis Advisors LLC raised its holdings in Kennametal by 20.6% in the 3rd quarter. Natixis Advisors LLC now owns 14,158 shares of the industrial products company’s stock worth $367,000 after purchasing an additional 2,415 shares during the period. MQS Management LLC purchased a new position in Kennametal during the third quarter valued at $437,000. Finally, Entropy Technologies LP bought a new stake in Kennametal during the third quarter valued at about $425,000.

Kennametal Company Profile

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.