Kadant (NYSE:KAI) Stock Rating Reaffirmed by Barrington Research

Kadant (NYSE:KAI)‘s stock had its “outperform” rating reissued by analysts at Barrington Research in a report released on Friday, Benzinga reports. They presently have a $360.00 price target on the industrial products company’s stock. Barrington Research’s price target points to a potential upside of 8.11% from the company’s previous close.

Separately, DA Davidson raised their price objective on Kadant from $290.00 to $300.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st.

Kadant Price Performance

Shares of KAI stock opened at $332.98 on Friday. The company has a quick ratio of 1.40, a current ratio of 2.25 and a debt-to-equity ratio of 0.42. The stock has a market cap of $3.91 billion, a price-to-earnings ratio of 34.69 and a beta of 1.21. The business’s fifty day moving average is $320.36 and its 200 day moving average is $303.30. Kadant has a twelve month low of $214.21 and a twelve month high of $363.40.

Kadant (NYSE:KAI) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.38. The company had revenue of $275.00 million during the quarter, compared to analysts’ expectations of $263.50 million. Kadant had a net margin of 11.35% and a return on equity of 15.48%. Kadant’s revenue was up 12.2% on a year-over-year basis. During the same period last year, the company posted $2.54 EPS. Research analysts expect that Kadant will post 9.93 EPS for the current fiscal year.

Hedge Funds Weigh In On Kadant

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Xponance Inc. raised its stake in Kadant by 5.2% during the 2nd quarter. Xponance Inc. now owns 744 shares of the industrial products company’s stock valued at $219,000 after buying an additional 37 shares during the last quarter. Parallel Advisors LLC increased its position in Kadant by 58.2% during the fourth quarter. Parallel Advisors LLC now owns 106 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 39 shares during the last quarter. Wealth Alliance lifted its holdings in Kadant by 7.0% in the second quarter. Wealth Alliance now owns 718 shares of the industrial products company’s stock valued at $211,000 after acquiring an additional 47 shares during the period. Envestnet Portfolio Solutions Inc. boosted its position in Kadant by 7.1% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 855 shares of the industrial products company’s stock worth $280,000 after purchasing an additional 57 shares during the last quarter. Finally, Arizona State Retirement System grew its stake in shares of Kadant by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 3,279 shares of the industrial products company’s stock valued at $963,000 after purchasing an additional 62 shares during the period. 96.13% of the stock is owned by institutional investors.

Kadant Company Profile

Kadant Inc supplies technologies and engineered systems worldwide. It operates in three segments: Flow Control, Industrial Processing, and Material Handling. The Flow Control segment develops, manufactures, and markets fluid-handling systems and equipment, such as rotary joints, syphons, turbulator bars, expansion joints, and engineered steam and condensate systems; and doctoring, cleaning, and filtration systems and related consumables consisting of doctor systems and holders, doctor blades, cleaning shower and fabric-conditioning systems, forming systems and wear surfaces, and water-filtration systems.