Kennametal (NYSE:KMT) Price Target Increased to $25.00 by Analysts at Barclays

Kennametal (NYSE:KMT - Get Free Report) had its price target upped by equities research analysts at Barclays from $24.00 to $25.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an "equal weight" rating on the industrial products company's stock. Barclays's price objective would indicate a potential downside of 3.96% from the stock's current price.

KMT has been the topic of several other reports. StockNews.com upgraded shares of Kennametal from a "hold" rating to a "buy" rating in a research note on Tuesday, April 30th. JPMorgan Chase & Co. lowered their target price on shares of Kennametal from $26.00 to $24.00 and set an "underweight" rating on the stock in a research note on Thursday, February 8th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Kennametal currently has an average rating of "Hold" and an average price target of $24.75.

Kennametal Stock Performance

KMT traded up $0.68 on Thursday, hitting $26.03. The company's stock had a trading volume of 1,175,914 shares, compared to its average volume of 638,906. The company's 50 day simple moving average is $24.38 and its 200-day simple moving average is $24.35. The firm has a market cap of $2.06 billion, a P/E ratio of 17.33, a price-to-earnings-growth ratio of 3.29 and a beta of 1.76. Kennametal has a 12 month low of $22.08 and a 12 month high of $30.60. The company has a quick ratio of 1.06, a current ratio of 2.44 and a debt-to-equity ratio of 0.45.

Kennametal (NYSE:KMT - Get Free Report) last released its quarterly earnings data on Wednesday, May 8th. The industrial products company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.01). Kennametal had a return on equity of 9.94% and a net margin of 5.86%. The business had revenue of $515.80 million during the quarter, compared to the consensus estimate of $518.50 million. During the same period last year, the business posted $0.39 earnings per share. The firm's quarterly revenue was down 3.8% on a year-over-year basis. Analysts forecast that Kennametal will post 1.49 EPS for the current year.

Kennametal declared that its board has approved a stock buyback plan on Wednesday, February 7th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the industrial products company to reacquire up to 10.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board believes its shares are undervalued.

Insider Activity at Kennametal

In other Kennametal news, VP John Wayne Witt sold 1,000 shares of the firm's stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $25.55, for a total value of $25,550.00. Following the sale, the vice president now owns 1,343 shares of the company's stock, valued at approximately $34,313.65. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.79% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of KMT. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Kennametal by 20.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,795 shares of the industrial products company's stock worth $393,000 after buying an additional 2,705 shares during the last quarter. Mackenzie Financial Corp raised its holdings in shares of Kennametal by 3.5% during the third quarter. Mackenzie Financial Corp now owns 15,223 shares of the industrial products company's stock valued at $371,000 after purchasing an additional 513 shares during the last quarter. Inspire Investing LLC raised its holdings in shares of Kennametal by 11.5% during the third quarter. Inspire Investing LLC now owns 12,305 shares of the industrial products company's stock valued at $306,000 after purchasing an additional 1,265 shares during the last quarter. Gradient Investments LLC purchased a new position in shares of Kennametal during the third quarter valued at approximately $96,000. Finally, AlphaMark Advisors LLC purchased a new position in shares of Kennametal during the third quarter valued at approximately $225,000.

About Kennametal

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.