Kennametal (NYSE:KMT) Stock Rating Upgraded by StockNews.com

Kennametal (NYSE:KMT) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Several other analysts also recently weighed in on KMT. Loop Capital boosted their price target on Kennametal from $22.00 to $24.00 and gave the company a “hold” rating in a research note on Thursday, August 22nd. Barclays upped their target price on Kennametal from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $24.17.

Kennametal Price Performance

Shares of KMT stock opened at $25.72 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.41 and a quick ratio of 1.17. The company’s 50-day simple moving average is $25.08 and its two-hundred day simple moving average is $24.64. The company has a market capitalization of $2.02 billion, a P/E ratio of 19.05, a P/E/G ratio of 2.62 and a beta of 1.65. Kennametal has a one year low of $22.08 and a one year high of $27.04.

Kennametal (NYSE:KMT) last issued its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.05. Kennametal had a net margin of 5.34% and a return on equity of 9.17%. The firm had revenue of $543.31 million for the quarter, compared to the consensus estimate of $532.72 million. During the same quarter in the previous year, the firm earned $0.51 EPS. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. As a group, equities analysts anticipate that Kennametal will post 1.51 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP lifted its stake in Kennametal by 198.9% during the second quarter. Quarry LP now owns 1,058 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 704 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Kennametal in the 2nd quarter valued at $28,000. Headlands Technologies LLC purchased a new position in shares of Kennametal in the 1st quarter valued at $32,000. Quest Partners LLC acquired a new stake in Kennametal during the 2nd quarter worth $44,000. Finally, EntryPoint Capital LLC lifted its position in Kennametal by 2,552.0% in the first quarter. EntryPoint Capital LLC now owns 2,705 shares of the industrial products company’s stock valued at $67,000 after acquiring an additional 2,603 shares during the last quarter.

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.