The stock of Kennametal Inc. (NYSE:KMT) hit a new 52-week high and has $36.92 target or 4.00% above today’s $35.50 share price. The 8 months bullish chart indicates low risk for the $2.95 billion company. The 1-year high was reported on Nov, 25 by Barchart.com. If the $36.92 price target is reached, the company will be worth $118.00M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 0.08% or $0.03 on November 25, hitting $35.5. About 309,801 shares traded hands. Kennametal Inc. (NYSE:KMT) has risen 47.24% since April 22, 2016 and is uptrending. It has outperformed by 41.83% the S&P500.
Analysts await Kennametal Inc. (NYSE:KMT) to report earnings on February, 1. They expect $0.22 earnings per share, up 57.14% or $0.08 from last year’s $0.14 per share. KMT’s profit will be $18.28M for 40.34 P/E if the $0.22 EPS becomes a reality. After $0.11 actual earnings per share reported by Kennametal Inc. for the previous quarter, Wall Street now forecasts 100.00% EPS growth.
Kennametal Inc. (NYSE:KMT) Ratings Coverage
Out of 8 analysts covering Kennametal Inc. (NYSE:KMT), 2 rate it a “Buy”, 2 “Sell”, while 4 “Hold”. This means 25% are positive. Kennametal Inc. has been the topic of 17 analyst reports since August 3, 2015 according to StockzIntelligence Inc. As per Thursday, December 17, the company rating was maintained by Barrington Research. The company was downgraded on Wednesday, November 4 by Bank of America. The firm earned “Sell” rating on Wednesday, October 28 by UBS. Seaport Global downgraded it to “Neutral” rating and $28 target price in Thursday, August 18 report. Goldman Sachs upgraded the stock to “Buy” rating in Monday, October 31 report. The stock has “Neutral” rating given by Longbow on Friday, March 18. The rating was upgraded by Longbow to “Neutral” on Thursday, February 4. Bank of America downgraded Kennametal Inc. (NYSE:KMT) on Tuesday, August 11 to “Neutral” rating. Bank of America downgraded the shares of KMT in a report on Friday, October 2 to “Neutral” rating. The company was downgraded on Wednesday, May 4 by Stifel Nicolaus.
According to Zacks Investment Research, “Kennametal Inc. is a leading global supplier of tooling, engineered components and advanced materials consumed in production processes. The company improves customers’ competitiveness by providing superior economic returns through the delivery of application knowledge and advanced technology to master the toughest of materials application demands. Companies producing everything from airframes to coal, from medical implants to oil wells and from turbochargers to motorcycle parts recognize Kennametal for extraordinary contributions to their value chains.”
Insitutional Activity: The institutional sentiment decreased to 0.77 in Q2 2016. Its down 0.44, from 1.21 in 2016Q1. The ratio dived, as 29 funds sold all Kennametal Inc. shares owned while 66 reduced positions. 28 funds bought stakes while 87 increased positions. They now own 77.21 million shares or 3.37% more from 74.69 million shares in 2016Q1.
The Colorado-based Advsr Asset Mngmt has invested 0% in Kennametal Inc. (NYSE:KMT). Acadian Asset Limited Com has 115 shares for 0% of their US portfolio. The New York-based Gamco Invsts Inc Et Al has invested 0.08% in Kennametal Inc. (NYSE:KMT). Liberty Mutual Asset Mngmt last reported 0.03% of its portfolio in the stock. Manufacturers Life Ins The, a Ontario – Canada-based fund reported 158,702 shares. Los Angeles Mngmt And Equity last reported 317,172 shares in the company. Quantbot Techs L P accumulated 23,885 shares or 0.06% of the stock. Gotham Asset Lc holds 1.05 million shares or 0.28% of its portfolio. Great Lakes Advisors Limited Company reported 123,512 shares or 0.07% of all its holdings. Moreover, Aperio Group Incorporated Limited Liability Com has 0% invested in Kennametal Inc. (NYSE:KMT) for 27,531 shares. Gabelli Funds Ltd Company accumulated 0.04% or 340,000 shares. Glenmede Na has 1,915 shares for 0% of their US portfolio. Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Investment Mgmt Corporation accumulated 0% or 17,300 shares. Fmr Limited Liability has invested 0% of its portfolio in Kennametal Inc. (NYSE:KMT). Fairpointe Cap Ltd has 59,050 shares for 0.03% of their US portfolio.
Insider Transactions: Since June 10, 2016, the stock had 1 insider buy, and 2 sales for $258,888 net activity. Harvey William J. bought $12,460 worth of stock. $135,674 worth of Kennametal Inc. (NYSE:KMT) was sold by Bacchus Judith L on Friday, November 11.
More recent Kennametal Inc. (NYSE:KMT) news were published by: Prnewswire.com which released: “Kennametal to attend Global Mizuho Investor Conference” on November 09, 2016. Also Forbes.com published the news titled: “Ex-Dividend Reminder: Parker Hannifin, Kennametal and Boeing” on November 04, 2016. Prnewswire.com‘s news article titled: “Kennametal Announces Fiscal 2017 First Quarter Results” with publication date: October 26, 2016 was also an interesting one.
KMT Company Profile
Kennametal Inc. (Kennametal), incorporated on June 25, 1943, is a supplier of tooling, engineered components and materials consumed in production processes. The Firm operates through two divisions: Industrial and Infrastructure. The Firm provides wear-resistant products, application engineering and services backed by material science serving clients across diverse sectors of industrial production, transportation, earthworks, energy, construction, process industries and aerospace. Kennametal solutions are built across technology platforms, including precision-engineered metalworking tools and components, surface technologies and earth cutting tools that are mission-critical to customer activities battling conditions associated with wear fatigue, corrosion and high temperatures.
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