Kadant (NYSE:KAI) Upgraded by Wall Street Zen to Hold Rating

Kadant (NYSE:KAI - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Saturday.

A number of other research firms have also issued reports on KAI. Barrington Research reaffirmed an "outperform" rating and issued a $380.00 price target on shares of Kadant in a research report on Thursday, May 1st. DA Davidson reduced their target price on shares of Kadant from $300.00 to $275.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st.

Kadant Trading Up 2.8%

NYSE:KAI traded up $8.80 on Friday, reaching $326.90. 117,106 shares of the company's stock were exchanged, compared to its average volume of 116,171. The firm has a market capitalization of $3.85 billion, a price-to-earnings ratio of 34.70 and a beta of 1.25. Kadant has a 52-week low of $281.30 and a 52-week high of $429.95. The company has a quick ratio of 1.62, a current ratio of 2.47 and a debt-to-equity ratio of 0.31. The business has a fifty day moving average of $314.81 and a 200-day moving average of $337.63.

Kadant (NYSE:KAI - Get Free Report) last released its earnings results on Tuesday, April 29th. The industrial products company reported $2.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.97 by $0.13. The company had revenue of $239.21 million for the quarter, compared to analyst estimates of $239.41 million. Kadant had a net margin of 10.63% and a return on equity of 13.74%. The firm's quarterly revenue was down 3.9% on a year-over-year basis. During the same period in the prior year, the business earned $2.38 EPS. As a group, analysts expect that Kadant will post 9.97 earnings per share for the current year.

Kadant announced that its Board of Directors has authorized a stock repurchase program on Thursday, May 15th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the industrial products company to reacquire up to 1.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its shares are undervalued.

Institutional Investors Weigh In On Kadant

Several institutional investors have recently added to or reduced their stakes in KAI. Opal Wealth Advisors LLC acquired a new position in shares of Kadant in the 1st quarter valued at $30,000. Jones Financial Companies Lllp boosted its stake in Kadant by 267.9% in the fourth quarter. Jones Financial Companies Lllp now owns 103 shares of the industrial products company's stock valued at $36,000 after acquiring an additional 75 shares in the last quarter. Optimum Investment Advisors grew its holdings in shares of Kadant by 50.0% during the first quarter. Optimum Investment Advisors now owns 150 shares of the industrial products company's stock worth $51,000 after purchasing an additional 50 shares during the last quarter. SVB Wealth LLC acquired a new stake in shares of Kadant during the first quarter worth about $54,000. Finally, Harbor Investment Advisory LLC boosted its position in shares of Kadant by 55.4% in the 2nd quarter. Harbor Investment Advisory LLC now owns 174 shares of the industrial products company's stock valued at $55,000 after purchasing an additional 62 shares during the period. Hedge funds and other institutional investors own 96.13% of the company's stock.

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.