Weiss Ratings Reiterates Hold (C) Rating for Kennametal (NYSE:KMT)

Key Points

• Kennametal's stock has been assigned a "hold" rating by Weiss Ratings, with a consensus target price of $24.00.
• The company reported $0.34 earnings per share for the last quarter, missing analysts' expectations of $0.40, and its quarterly revenue was down 4.9% year-over-year.
• Institutional investors have notably increased their stakes in Kennametal, with GAMMA Investing LLC raising its stake by 699.1% in the first quarter.

Kennametal (NYSE:KMT - Get Free Report)'s stock had its "hold (c)" rating reissued by investment analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

A number of other brokerages also recently weighed in on KMT. Loop Capital restated a "hold" rating and issued a $24.00 target price (up previously from $21.00) on shares of Kennametal in a research note on Wednesday, June 25th. UBS Group upgraded Kennametal from a "sell" rating to a "neutral" rating and boosted their target price for the stock from $19.00 to $21.00 in a research note on Friday, August 15th. Zacks Research upgraded Kennametal to a "strong sell" rating in a research note on Monday, August 11th. Finally, JPMorgan Chase & Co. dropped their price objective on Kennametal from $23.00 to $20.00 and set an "underweight" rating on the stock in a research note on Thursday, August 7th. Six equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus target price of $24.00.

Kennametal Price Performance

Shares of NYSE KMT opened at $21.56 on Wednesday. Kennametal has a twelve month low of $17.30 and a twelve month high of $32.18. The stock's 50 day moving average price is $21.41 and its 200-day moving average price is $21.61. The company has a market capitalization of $1.64 billion, a PE ratio of 17.97, a PEG ratio of 3.74 and a beta of 1.46. The company has a quick ratio of 1.19, a current ratio of 2.46 and a debt-to-equity ratio of 0.45.

Kennametal (NYSE:KMT - Get Free Report) last announced its earnings results on Wednesday, August 6th. The industrial products company reported $0.34 earnings per share for the quarter, missing analysts' consensus estimates of $0.40 by ($0.06). Kennametal had a return on equity of 8.09% and a net margin of 4.73%.The business had revenue of $516.45 million during the quarter, compared to analysts' expectations of $527.52 million. During the same quarter in the previous year, the firm earned $0.49 EPS. Kennametal's quarterly revenue was down 4.9% on a year-over-year basis. On average, equities analysts anticipate that Kennametal will post 1.17 EPS for the current year.

Institutional Investors Weigh In On Kennametal

Institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC increased its stake in Kennametal by 699.1% in the 1st quarter. GAMMA Investing LLC now owns 11,651 shares of the industrial products company's stock worth $248,000 after purchasing an additional 10,193 shares during the period. SummerHaven Investment Management LLC grew its holdings in shares of Kennametal by 1.8% in the first quarter. SummerHaven Investment Management LLC now owns 34,150 shares of the industrial products company's stock worth $727,000 after purchasing an additional 600 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Kennametal by 17.8% in the first quarter. Janney Montgomery Scott LLC now owns 13,242 shares of the industrial products company's stock worth $282,000 after buying an additional 2,000 shares during the period. Azarias Capital Management L.P. raised its holdings in Kennametal by 20.8% during the 1st quarter. Azarias Capital Management L.P. now owns 235,968 shares of the industrial products company's stock valued at $5,026,000 after buying an additional 40,687 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in Kennametal by 2.2% during the 1st quarter. Principal Financial Group Inc. now owns 385,294 shares of the industrial products company's stock valued at $8,207,000 after buying an additional 8,351 shares during the period.

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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