Kennametal (NYSE:KMT - Get Free Report)'s stock had its "hold" rating reaffirmed by equities research analysts at Loop Capital in a research report issued on Wednesday, MarketBeat.com reports. They presently have a $24.00 price objective on the industrial products company's stock, up from their previous price objective of $21.00. Loop Capital's target price points to a potential upside of 4.23% from the stock's previous close.
Other equities analysts have also issued reports about the stock. Wall Street Zen raised shares of Kennametal from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Barclays upped their price objective on Kennametal from $22.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. Finally, Morgan Stanley lifted their target price on Kennametal from $20.00 to $21.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Kennametal presently has a consensus rating of "Hold" and an average price target of $25.40.
Read Our Latest Stock Analysis on Kennametal
Kennametal Price Performance
KMT traded down $0.25 during trading on Wednesday, hitting $23.03. The company's stock had a trading volume of 1,845,923 shares, compared to its average volume of 927,509. The company has a quick ratio of 1.10, a current ratio of 2.44 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of 16.56, a price-to-earnings-growth ratio of 3.17 and a beta of 1.40. The firm's 50 day moving average price is $21.23 and its two-hundred day moving average price is $22.09. Kennametal has a 12 month low of $17.30 and a 12 month high of $32.18.
Kennametal (NYSE:KMT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.21. The firm had revenue of $486.40 million during the quarter, compared to analysts' expectations of $489.30 million. Kennametal had a return on equity of 9.12% and a net margin of 5.45%. The company's quarterly revenue was down 5.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.30 EPS. Sell-side analysts forecast that Kennametal will post 1.17 earnings per share for the current fiscal year.
Institutional Trading of Kennametal
A number of hedge funds have recently added to or reduced their stakes in the stock. Voya Investment Management LLC boosted its position in Kennametal by 15.2% in the first quarter. Voya Investment Management LLC now owns 221,153 shares of the industrial products company's stock valued at $4,711,000 after buying an additional 29,203 shares in the last quarter. Jane Street Group LLC boosted its position in Kennametal by 39.3% in the first quarter. Jane Street Group LLC now owns 229,903 shares of the industrial products company's stock valued at $4,897,000 after buying an additional 64,907 shares in the last quarter. Bayforest Capital Ltd acquired a new position in shares of Kennametal during the first quarter worth $64,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Kennametal by 13.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 240,556 shares of the industrial products company's stock worth $5,124,000 after purchasing an additional 28,020 shares during the period. Finally, Empowered Funds LLC acquired a new position in shares of Kennametal during the first quarter worth $7,009,000.
Kennametal Company Profile
(
Get Free Report)
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.
See Also

Before you consider Kennametal, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Kennametal wasn't on the list.
While Kennametal currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.