DA Davidson Boosts Kadant (NYSE:KAI) Price Target to $300.00

Kadant (NYSE:KAI) had its target price upped by equities researchers at DA Davidson from $290.00 to $300.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the industrial products company’s stock. DA Davidson’s target price would indicate a potential downside of 14.59% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on the stock. William Blair reissued an “outperform” rating on shares of Kadant in a research report on Tuesday, April 30th. Barrington Research reaffirmed an “outperform” rating and issued a $360.00 target price on shares of Kadant in a report on Wednesday, June 26th.

Kadant Stock Performance

Shares of KAI stock opened at $351.23 on Thursday. The company has a current ratio of 2.05, a quick ratio of 1.27 and a debt-to-equity ratio of 0.39. The firm has a fifty day moving average price of $301.04 and a 200 day moving average price of $300.43. The company has a market cap of $4.12 billion, a P/E ratio of 36.59 and a beta of 1.24. Kadant has a 12 month low of $196.99 and a 12 month high of $363.40.

Kadant (NYSE:KAI) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.38. The firm had revenue of $275.00 million during the quarter, compared to the consensus estimate of $263.50 million. Kadant had a net margin of 11.35% and a return on equity of 15.73%. The company’s revenue was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.54 earnings per share. Sell-side analysts predict that Kadant will post 10.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Erin L. Russell sold 1,112 shares of the stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $279.25, for a total transaction of $310,526.00. Following the completion of the transaction, the director now directly owns 3,802 shares of the company’s stock, valued at $1,061,708.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC grew its position in Kadant by 58.2% during the fourth quarter. Parallel Advisors LLC now owns 106 shares of the industrial products company’s stock worth $30,000 after buying an additional 39 shares during the period. First Horizon Advisors Inc. grew its position in Kadant by 37.0% during the fourth quarter. First Horizon Advisors Inc. now owns 185 shares of the industrial products company’s stock worth $52,000 after buying an additional 50 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in Kadant by 7.1% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 855 shares of the industrial products company’s stock worth $280,000 after buying an additional 57 shares during the period. Sheets Smith Wealth Management grew its position in Kadant by 4.7% during the fourth quarter. Sheets Smith Wealth Management now owns 1,769 shares of the industrial products company’s stock worth $496,000 after buying an additional 80 shares during the period. Finally, Benjamin F. Edwards & Company Inc. acquired a new position in Kadant during the first quarter worth about $28,000. 96.13% of the stock is currently owned by institutional investors and hedge funds.

Kadant Company Profile

Kadant Inc supplies technologies and engineered systems worldwide. It operates in three segments: Flow Control, Industrial Processing, and Material Handling. The Flow Control segment develops, manufactures, and markets fluid-handling systems and equipment, such as rotary joints, syphons, turbulator bars, expansion joints, and engineered steam and condensate systems; and doctoring, cleaning, and filtration systems and related consumables consisting of doctor systems and holders, doctor blades, cleaning shower and fabric-conditioning systems, forming systems and wear surfaces, and water-filtration systems.