Today’s Price Action: Will Kadant Inc. Run Out of Steam Soon?

Today's Price Action: Will Kadant Inc. Run Out of Steam Soon?

The stock of Kadant Inc. (NYSE:KAI) hit a new 52-week high and has $79.73 target or 33.00% above today’s $59.95 share price. The 7 months bullish chart indicates low risk for the $676.60M company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $79.73 price target is reached, the company will be worth $223.28M 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 47,661 shares traded hands. Kadant Inc. (NYSE:KAI) has risen 30.74% since April 11, 2016 and is uptrending. It has outperformed by 24.60% the S&P500.

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 firm earned “Neutral” rating on Thursday, October 29 by Macquarie Research. William Blair initiated the stock with “Market Perform” rating in Friday, September 16 report. Barrington Research maintained Kadant Inc. (NYSE:KAI) rating on Friday, August 5. Barrington Research has “Outperform” rating and $63 price target. Seaport Global upgraded Kadant Inc. (NYSE:KAI) rating on Thursday, August 18. Seaport Global has “Buy” rating and $58 price target. The company was downgraded on Wednesday, August 12 by Zacks.

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 decreased to 0.94 in Q2 2016. Its down 0.04, from 0.98 in 2016Q1. The ratio fall, 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.
Swiss Bank owns 16,800 shares or 0% of their US portfolio. Loring Wolcott & Coolidge Fiduciary Advsrs Llp Ma last reported 20 shares in the company. The New York-based Alliancebernstein L P has invested 0% in Kadant Inc. (NYSE:KAI). Great West Life Assurance Company Can last reported 2,006 shares in the company. Phocas has invested 0.41% of its portfolio in Kadant Inc. (NYSE:KAI). Dimensional Fund Advsr Limited Partnership last reported 921,782 shares in the company. The New York-based Intll Grp Inc has invested 0% in Kadant Inc. (NYSE:KAI). The Illinois-based Ubs Asset Management Americas has invested 0% in Kadant Inc. (NYSE:KAI). State Board Of Administration Of Florida Retirement Sys last reported 6,635 shares in the company. The Switzerland-based Credit Suisse Ag has invested 0% in Kadant Inc. (NYSE:KAI). Oakworth Capital has invested 0% of its portfolio in Kadant Inc. (NYSE:KAI). Voya Mngmt Lc last reported 0% of its portfolio in the stock. Glenmede Tru Na has 0% invested in the company for 79 shares. Moreover, Us State Bank De has 0% invested in Kadant Inc. (NYSE:KAI) for 1,381 shares. Wedge Capital Mgmt L Ltd Partnership Nc holds 17,495 shares or 0.01% of its portfolio.

Insider Transactions: Since June 2, 2016, the stock had 0 buys, and 10 insider sales for $2.59 million net activity. Shares for $258,985 were sold by LEONARD THOMAS C. Shares for $194,426 were sold by Tully William P on Tuesday, July 5. LAMBERT SANDRA L also sold $168,617 worth of Kadant Inc. (NYSE:KAI) shares. 10,000 shares were sold by PAINTER JONATHAN W, worth $499,279 on Thursday, June 16. 7,773 shares were sold by Powell Jeffrey L, worth $397,992 on Monday, September 19.

Another recent and important Kadant Inc. (NYSE:KAI) news was published by Marketwatch.com which published an article titled: “/quotes/zigman/3870025/realtime” 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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