Kennametal (NYSE:KMT) Lowered to Hold Rating by StockNews.com

Kennametal (NYSE:KMT) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Several other analysts have also issued reports on KMT. Bank of America lowered shares of Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 target price for the company. in a research note on Friday, October 18th. Barclays boosted their price target on shares of Kennametal from $24.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Finally, Loop Capital boosted their price target on shares of Kennametal from $22.00 to $24.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat, Kennametal currently has an average rating of “Hold” and an average target price of $24.60.

Kennametal Stock Down 6.0 %

KMT stock traded down $1.89 during midday trading on Thursday, reaching $29.35. 2,146,113 shares of the company’s stock traded hands, compared to its average volume of 710,771. The company has a market cap of $2.29 billion, a price-to-earnings ratio of 21.42, a P/E/G ratio of 2.88 and a beta of 1.64. The firm’s fifty day moving average price is $25.61 and its 200-day moving average price is $24.99. The company has a quick ratio of 1.17, a current ratio of 2.41 and a debt-to-equity ratio of 0.46. Kennametal has a 52 week low of $22.38 and a 52 week high of $32.18.

Kennametal (NYSE:KMT) last posted its earnings results on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.04. Kennametal had a net margin of 5.34% and a return on equity of 9.17%. The firm had revenue of $481.90 million during the quarter, compared to analyst estimates of $485.26 million. During the same quarter in the prior year, the business posted $0.41 EPS. The business’s revenue was down 2.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Kennametal will post 1.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kennametal

A number of hedge funds have recently bought and sold shares of the company. UniSuper Management Pty Ltd purchased a new stake in shares of Kennametal during the 1st quarter valued at about $534,000. Azarias Capital Management L.P. boosted its position in shares of Kennametal by 34.9% during the 2nd quarter. Azarias Capital Management L.P. now owns 259,399 shares of the industrial products company’s stock valued at $6,106,000 after acquiring an additional 67,139 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of Kennametal by 1.0% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,051,503 shares of the industrial products company’s stock valued at $48,292,000 after acquiring an additional 20,634 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Kennametal by 85.3% during the 1st quarter. BNP Paribas Financial Markets now owns 87,340 shares of the industrial products company’s stock valued at $2,178,000 after acquiring an additional 40,193 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in Kennametal during the 1st quarter valued at $32,000.

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.