Kadant's (KAI) "Outperform" Rating Reaffirmed at Barrington Research

Kadant (NYSE:KAI - Get Free Report)'s stock had its "outperform" rating reissued by stock analysts at Barrington Research in a research note issued on Friday,Benzinga reports. They presently have a $410.00 target price on the industrial products company's stock. Barrington Research's price target suggests a potential upside of 36.84% from the company's previous close.

Kadant Price Performance

Shares of NYSE KAI traded down $15.94 during trading hours on Friday, reaching $299.63. 181,578 shares of the stock traded hands, compared to its average volume of 108,370. The company has a market capitalization of $3.53 billion, a P/E ratio of 31.61 and a beta of 1.24. The company has a quick ratio of 1.46, a current ratio of 2.29 and a debt-to-equity ratio of 0.37. Kadant has a 52-week low of $249.51 and a 52-week high of $429.95. The company's 50-day simple moving average is $336.96 and its two-hundred day simple moving average is $357.44.

Kadant (NYSE:KAI - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $2.10 EPS for the quarter, beating analysts' consensus estimates of $1.97 by $0.13. The company had revenue of $239.21 million during the quarter, compared to analyst estimates of $239.41 million. Kadant had a net margin of 10.59% and a return on equity of 14.66%. The firm's revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.38 EPS. Equities research analysts forecast that Kadant will post 9.97 EPS for the current year.

Institutional Investors Weigh In On Kadant

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Kadant by 25.0% in the 4th quarter. Vanguard Group Inc. now owns 1,218,273 shares of the industrial products company's stock worth $420,292,000 after purchasing an additional 243,267 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of Kadant in the 4th quarter worth about $193,595,000. Conestoga Capital Advisors LLC increased its stake in shares of Kadant by 97.9% in the 1st quarter. Conestoga Capital Advisors LLC now owns 221,209 shares of the industrial products company's stock worth $74,528,000 after acquiring an additional 109,439 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Kadant by 20.0% in the 4th quarter. Janus Henderson Group PLC now owns 156,358 shares of the industrial products company's stock worth $53,985,000 after acquiring an additional 26,067 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Kadant by 5.5% in the 4th quarter. Northern Trust Corp now owns 154,466 shares of the industrial products company's stock worth $53,289,000 after acquiring an additional 8,030 shares in the last quarter. Hedge funds and other institutional investors own 96.13% of the company's stock.

About Kadant

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.