Price Action to Note: What’s in Kadant Inc. After Reaching 52-Week High?

Price Action to Note: What's in Kadant Inc. After Reaching 52 Week High?

The stock of Kadant Inc. (NYSE:KAI) hit a new 52-week high and has $66.57 target or 6.00% above today’s $62.80 share price. The 8 months bullish chart indicates low risk for the $687.64 million company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $66.57 price target is reached, the company will be worth $41.26 million 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. About 27,750 shares traded hands. Kadant Inc. (NYSE:KAI) has risen 32.37% since April 28, 2016 and is uptrending. It has outperformed by 26.45% the S&P500.

Analysts await Kadant Inc. (NYSE:KAI) to report earnings on February, 22. They expect $0.62 earnings per share, down 34.74% or $0.33 from last year’s $0.95 per share. KAI’s profit will be $6.79 million for 25.32 P/E if the $0.62 EPS becomes a reality. After $0.81 actual earnings per share reported by Kadant Inc. for the previous quarter, Wall Street now forecasts -23.46% negative EPS growth.

Kadant Inc. (NYSE:KAI) Ratings Coverage

Out of 4 analysts covering Kadant (NYSE:KAI), 2 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 50% are positive. Kadant has been the topic of 5 analyst reports since August 12, 2015 according to StockzIntelligence Inc. The rating was upgraded by Seaport Global on Thursday, August 18 to “Buy”. Barrington Research maintained the stock with “Outperform” rating in Friday, August 5 report. The stock has “Neutral” rating given by Macquarie Research on Thursday, October 29. Zacks downgraded the stock to “Hold” rating in Wednesday, August 12 report. William Blair initiated Kadant Inc. (NYSE:KAI) on Friday, September 16 with “Market Perform” rating.

According to Zacks Investment Research, “Kadant Inc. is a leading supplier of a range of products and systems for the global papermaking and paper-recycling industries, including de-inking systems, stock-preparation equipment, water-management systems, and papermaking accessories. Through its majority-owned Thermo Fibergen subsidiary, the company also develops and commercializes composite building materials produced from natural fiber and recycled plastic. Kadant is a public subsidiary of Thermo Electron Corporation.(Press Release)”

Insitutional Activity: The institutional sentiment increased to 0.98 in 2016 Q2. Its up 0.04, from 0.94 in 2016Q1. The ratio is positive, as 10 funds sold all Kadant Inc. shares owned while 52 reduced positions. 26 funds bought stakes while 32 increased positions. They now own 9.09 million shares or 0.75% less from 9.16 million shares in 2016Q1.
Citadel Ltd Llc has 0% invested in the company for 4,765 shares. Schwab Charles Investment Mngmt has 0% invested in the company for 54,163 shares. Opus Cap Lc accumulated 0.65% or 56,468 shares. Manufacturers Life Insur Comm The owns 7,516 shares or 0% of their US portfolio. Eagle Asset Mngmt reported 264,270 shares or 0.09% of all its holdings. Bnp Paribas Arbitrage, a New York-based fund reported 409 shares. Natl Bank Of Montreal Can accumulated 0% or 22,262 shares. Wells Fargo & Mn, a California-based fund reported 694,275 shares. Clean Yield Group Inc holds 1.3% of its portfolio in Kadant Inc. (NYSE:KAI) for 58,693 shares. Ngam Advsr Limited Partnership owns 55,518 shares or 0.04% of their US portfolio. Perritt Mngmt last reported 0.56% of its portfolio in the stock. New York State Teachers Retirement has 0% invested in the company for 1,000 shares. Jpmorgan Chase And holds 0.01% or 427,881 shares in its portfolio. Qs Investors Ltd Liability Co holds 0% or 134 shares in its portfolio. Moreover, Kbc Gp Nv has 0% invested in Kadant Inc. (NYSE:KAI) for 2,760 shares.

Insider Transactions: Since June 2, 2016, the stock had 0 insider buys, and 9 insider sales for $2.47 million net activity. On Tuesday, July 5 the insider Tully William P sold $194,426. On Monday, August 15 the insider LAMBERT SANDRA L sold $168,617. $168,000 worth of Kadant Inc. (NYSE:KAI) was sold by PAINTER JONATHAN W on Thursday, August 4. Powell Jeffrey L sold 7,773 shares worth $397,992. $65,000 worth of shares were sold by LEONARD THOMAS C on Friday, July 1.

Another recent and important Kadant Inc. (NYSE:KAI) news was published by Marketwatch.com which published an article titled: “Plus the latest data from Realtor.com on 21 home markets across the US” on December 22, 2009.

KAI Company Profile

Kadant Inc., incorporated on November 12, 1991, is a supplier of equipment used in process industries, including papermaking, paper recycling and oriented strand board (OSB), an engineered wood panel product used primarily in home construction. In addition, the Company makes granules made from papermaking byproducts. The Company’s customer base includes paper and OSB manufacturers. The Firm operates in two divisions: Papermaking Systems and Wood Processing Systems, and a separate product line, Fiber Products. Through its Papermaking Systems segment, it develops, makes and markets a range of equipment and products for the papermaking, paper recycling and other process industries. Through its Wood Processing Systems segment, it designs, makes and markets stranders and related equipment used in the production of OSB and sells debarking and wood chipping equipment used in the forest products and the pulp and paper industries. Through its Fiber Products business, the Company makes and sells granules derived from pulp fiber for use as carriers for agricultural, home lawn and garden, and professional lawn, turf and ornamental applications, as well as for oil and grease absorption.

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