Kennametal (NYSE:KMT) Stock Price Expected to Rise, Barclays Analyst Says

Kennametal (NYSE:KMT - Get Free Report) had its price objective hoisted by stock analysts at Barclays from $22.00 to $24.00 in a research report issued on Monday,Benzinga reports. The firm presently has an "equal weight" rating on the industrial products company's stock. Barclays's price objective points to a potential upside of 11.16% from the stock's current price.

Several other analysts have also weighed in on the company. Morgan Stanley boosted their price objective on Kennametal from $20.00 to $21.00 and gave the company an "equal weight" rating in a report on Monday. StockNews.com raised shares of Kennametal from a "hold" rating to a "buy" rating in a report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Kennametal currently has an average rating of "Hold" and an average price target of $25.80.

Kennametal Price Performance

Shares of NYSE KMT traded down $0.09 on Monday, hitting $21.59. The company's stock had a trading volume of 377,352 shares, compared to its average volume of 871,100. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.53 and a quick ratio of 1.13. The stock has a 50 day moving average of $20.25 and a 200-day moving average of $23.44. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of 17.67, a price-to-earnings-growth ratio of 3.69 and a beta of 1.39. Kennametal has a 12-month low of $17.30 and a 12-month high of $32.18.

Kennametal (NYSE:KMT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.26 by $0.21. Kennametal had a return on equity of 8.12% and a net margin of 4.76%. The company had revenue of $486.40 million for the quarter, compared to analyst estimates of $489.30 million. During the same quarter in the prior year, the company posted $0.30 EPS. The business's revenue for the quarter was down 5.7% compared to the same quarter last year. As a group, research analysts predict that Kennametal will post 1.17 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Pacer Advisors Inc. acquired a new position in shares of Kennametal during the fourth quarter worth approximately $59,207,000. Cooper Haims Advisors LLC bought a new stake in Kennametal in the first quarter worth about $7,453,000. American Century Companies Inc. boosted its holdings in Kennametal by 13.8% during the fourth quarter. American Century Companies Inc. now owns 2,543,973 shares of the industrial products company's stock worth $61,106,000 after buying an additional 308,000 shares in the last quarter. Norges Bank acquired a new position in Kennametal in the fourth quarter worth approximately $5,543,000. Finally, Nuveen LLC bought a new position in shares of Kennametal in the first quarter valued at $3,949,000.

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.