Kennametal (NYSE:KMT) Rating Increased to Buy at StockNews.com

Kennametal (NYSE:KMT - Get Free Report) was upgraded by investment analysts at StockNews.com from a "hold" rating to a "buy" rating in a research note issued on Friday.

KMT has been the topic of several other research reports. Barclays lifted their target price on shares of Kennametal from $22.00 to $24.00 and gave the company an "equal weight" rating in a research report on Monday. Morgan Stanley lifted their price objective on Kennametal from $20.00 to $21.00 and gave the stock an "equal weight" rating in a report on Monday. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Kennametal currently has a consensus rating of "Hold" and an average target price of $25.80.

Kennametal Price Performance

NYSE:KMT opened at $21.52 on Friday. The company has a quick ratio of 1.13, a current ratio of 2.53 and a debt-to-equity ratio of 0.47. Kennametal has a 52 week low of $17.30 and a 52 week high of $32.18. The stock's 50-day moving average price is $20.24 and its 200-day moving average price is $23.41. The stock has a market capitalization of $1.64 billion, a PE ratio of 17.64, a price-to-earnings-growth ratio of 3.69 and a beta of 1.39.

Kennametal (NYSE:KMT - Get Free Report) last announced its earnings results 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. Kennametal had a return on equity of 8.12% and a net margin of 4.76%. The business had revenue of $486.40 million during the quarter, compared to the consensus estimate of $489.30 million. During the same period in the prior year, the company posted $0.30 EPS. The business's quarterly revenue was down 5.7% on a year-over-year basis. As a group, equities analysts expect that Kennametal will post 1.17 EPS for the current fiscal year.

Institutional Trading of Kennametal

Several large investors have recently bought and sold shares of the business. Pacer Advisors Inc. purchased a new position in Kennametal during the fourth quarter worth approximately $59,207,000. Cooper Haims Advisors LLC acquired a new stake in shares of Kennametal in the 1st quarter worth $7,453,000. American Century Companies Inc. raised its holdings in shares of Kennametal by 13.8% during the 4th quarter. American Century Companies Inc. now owns 2,543,973 shares of the industrial products company's stock worth $61,106,000 after acquiring an additional 308,000 shares during the period. Norges Bank purchased a new position in shares of Kennametal during the 4th quarter worth $5,543,000. Finally, Nuveen LLC acquired a new position in shares of Kennametal during the 1st quarter valued at about $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.

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