Price Action to Note: Will Kadant Inc. Run Out of Steam Soon?

Price Action to Note: Will Kadant Inc. Run Out of Steam Soon?

The stock of Kadant Inc. (NYSE:KAI) hit a new 52-week high and has $62.83 target or 3.00% above today’s $61.00 share price. The 7 months bullish chart indicates low risk for the $676.35M company. The 1-year high was reported on Nov, 25 by If the $62.83 price target is reached, the company will be worth $20.29M 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 0.66% or $0.4 during the last trading session, hitting $61. About 12,074 shares traded hands. Kadant Inc. (NYSE:KAI) has risen 31.33% since April 22, 2016 and is uptrending. It has outperformed by 25.93% the S&P500.

Analysts await Kadant Inc. (NYSE:KAI) to report earnings on February, 22. They expect $0.62 EPS, down 34.74% or $0.33 from last year’s $0.95 per share. KAI’s profit will be $6.87M for 24.60 P/E if the $0.62 EPS becomes a reality. After $0.81 actual EPS 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 firm has “Outperform” rating given on Friday, August 5 by Barrington Research. The stock of Kadant Inc. (NYSE:KAI) earned “Buy” rating by Seaport Global on Thursday, August 18. The firm has “Market Perform” rating by William Blair given on Friday, September 16. The firm earned “Neutral” rating on Thursday, October 29 by Macquarie Research. The stock of Kadant Inc. (NYSE:KAI) has “Hold” rating given 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 increased to 0.98 in Q2 2016. 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.
First Trust Advisors L P holds 0% or 5,602 shares in its portfolio. Panagora Asset Mngmt Inc accumulated 64,203 shares or 0.02% of the stock. Nationwide Fund Advsr accumulated 74,626 shares or 0.02% of the stock. Kbc Grp Nv last reported 2,760 shares in the company. Susquehanna Intl Group Limited Liability Partnership accumulated 23,015 shares or 0% of the stock. Mufg Americas Hldg Corporation has 137 shares for 0% of their US portfolio. Alliancebernstein L P accumulated 0% or 33,220 shares. Alphaone Services Ltd Llc holds 0.96% or 50,623 shares in its portfolio. Balyasny Asset Management Ltd Liability Corp last reported 0% of its portfolio in the stock. Sensato Investors Limited Company last reported 0.68% of its portfolio in the stock. Hancock Holdings last reported 0.04% of its portfolio in the stock. Spot Trading Ltd Limited Liability Company holds 0% of its portfolio in Kadant Inc. (NYSE:KAI) for 196 shares. Manufacturers Life Insurance Communications The holds 0% of its portfolio in Kadant Inc. (NYSE:KAI) for 7,516 shares. Qs Invsts Limited Liability accumulated 134 shares or 0% of the stock. The California-based Blackrock Fund Advisors has invested 0% in Kadant Inc. (NYSE:KAI).

Insider Transactions: Since June 2, 2016, the stock had 0 insider purchases, and 10 sales for $2.59 million net activity. $214,136 worth of Kadant Inc. (NYSE:KAI) was sold by LAMBERT SANDRA L. PAINTER JONATHAN W had sold 10,000 shares worth $503,217 on Wednesday, June 15. 7,773 shares were sold by Powell Jeffrey L, worth $397,992 on Monday, September 19. LEONARD THOMAS C sold $125,002 worth of stock or 2,500 shares. The insider Tully William P sold $194,426.

Another recent and important Kadant Inc. (NYSE:KAI) news was published by which published an article titled: “Virtual Stock Exchange” 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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