Kennametal (NYSE:KMT) Price Target Lowered to $27.00 at Barclays

Kennametal (NYSE:KMT) had its price objective dropped by analysts at Barclays from $30.00 to $27.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s price objective indicates a potential upside of 19.47% from the company’s previous close.

A number of other brokerages also recently weighed in on KMT. StockNews.com raised Kennametal from a “hold” rating to a “buy” rating in a report on Monday, January 27th. Morgan Stanley cut their price objective on Kennametal from $28.00 to $24.00 and set an “equal weight” rating on the stock in a report on Wednesday. Bank of America downgraded Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 price objective on the stock. in a report on Friday, October 18th. Loop Capital raised their price objective on Kennametal from $24.00 to $26.00 and gave the company a “hold” rating in a report on Tuesday, November 19th. Finally, Jefferies Financial Group downgraded Kennametal from a “buy” rating to a “hold” rating and cut their price objective for the company from $40.00 to $32.00 in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Kennametal presently has a consensus rating of “Hold” and a consensus price target of $27.00.

Kennametal Price Performance

Kennametal stock traded up $0.13 during mid-day trading on Friday, reaching $22.60. 32,798 shares of the company were exchanged, compared to its average volume of 983,298. The company has a fifty day simple moving average of $24.33 and a 200-day simple moving average of $25.52. Kennametal has a 12 month low of $20.50 and a 12 month high of $32.18. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.53 and a quick ratio of 1.16. The firm has a market cap of $1.76 billion, a PE ratio of 18.51, a PEG ratio of 2.57 and a beta of 1.66.

Kennametal (NYSE:KMT) last issued its earnings results on Wednesday, February 5th. The industrial products company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). Kennametal had a net margin of 4.76% and a return on equity of 8.12%. As a group, equities research analysts expect that Kennametal will post 1.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, VP John Wayne Witt sold 1,765 shares of Kennametal stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $29.35, for a total value of $51,802.75. Following the completion of the transaction, the vice president now directly owns 1,642 shares of the company’s stock, valued at approximately $48,192.70. This trade represents a 51.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sanjay Chowbey acquired 10,000 shares of the stock in a transaction dated Tuesday, February 11th. The stock was acquired at an average cost of $21.75 per share, with a total value of $217,500.00. Following the completion of the transaction, the chief executive officer now owns 77,595 shares in the company, valued at approximately $1,687,691.25. This represents a 14.79 % increase in their position. The disclosure for this purchase can be found here. 1.41% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Hsbc Holdings PLC raised its position in shares of Kennametal by 211.2% in the 4th quarter. Hsbc Holdings PLC now owns 64,678 shares of the industrial products company’s stock worth $1,551,000 after acquiring an additional 43,896 shares in the last quarter. MetLife Investment Management LLC raised its position in shares of Kennametal by 6.1% in the 4th quarter. MetLife Investment Management LLC now owns 48,037 shares of the industrial products company’s stock worth $1,154,000 after acquiring an additional 2,763 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Kennametal by 2.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,134,051 shares of the industrial products company’s stock valued at $123,319,000 after buying an additional 101,159 shares in the last quarter. First Trust Advisors LP increased its position in Kennametal by 36.4% in the 4th quarter. First Trust Advisors LP now owns 171,259 shares of the industrial products company’s stock valued at $4,114,000 after buying an additional 45,746 shares in the last quarter. Finally, Dean Investment Associates LLC increased its position in Kennametal by 31.6% in the 4th quarter. Dean Investment Associates LLC now owns 153,046 shares of the industrial products company’s stock valued at $3,676,000 after buying an additional 36,749 shares in the last quarter.

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.