The stock of Kennametal Inc. (NYSE:KMT) hit a new 52-week high and has $36.16 target or 4.00% above today’s $34.77 share price. The 6 months bullish chart indicates low risk for the $2.85B company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $36.16 price target is reached, the company will be worth $114.00M 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. About 414,917 shares traded hands. Kennametal Inc. (NYSE:KMT) has risen 45.59% since April 28, 2016 and is uptrending. It has outperformed by 39.66% the S&P500.
Analysts await Kennametal Inc. (NYSE:KMT) to report earnings on February, 1. They expect $0.22 EPS, up 57.14% or $0.08 from last year’s $0.14 per share. KMT’s profit will be $18.03M for 39.51 P/E if the $0.22 EPS becomes a reality. After $0.11 actual EPS 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. Seaport Global downgraded Kennametal Inc. (NYSE:KMT) rating on Thursday, August 18. Seaport Global has “Neutral” rating and $28 price target. The company was maintained on Thursday, December 17 by Barrington Research. The firm has “Neutral” rating given on Tuesday, August 11 by Bank of America. Goldman Sachs upgraded Kennametal Inc. (NYSE:KMT) on Monday, October 31 to “Buy” rating. The stock of Kennametal Inc. (NYSE:KMT) has “Neutral” rating given on Friday, October 2 by Bank of America. Longbow downgraded the stock to “Neutral” rating in Friday, March 18 report. Stifel Nicolaus downgraded Kennametal Inc. (NYSE:KMT) on Wednesday, May 4 to “Hold” rating. As per Thursday, February 4, the company rating was upgraded by Longbow. On Wednesday, November 4 the stock rating was downgraded by Bank of America to “Underperform”. The rating was downgraded by UBS on Wednesday, October 28 to “Sell”.
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 worsened, 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.
Capital Fund Mgmt Sa accumulated 0.03% or 127,702 shares. Skylands Ltd Liability Com owns 22,750 shares or 0.08% of their US portfolio. The California-based Tcw Gp has invested 0.01% in Kennametal Inc. (NYSE:KMT). The New York-based Morgan Stanley has invested 0.01% in Kennametal Inc. (NYSE:KMT). J Goldman & Co Ltd Partnership has 196,350 shares for 0.23% of their US portfolio. Fifth Third Bancshares accumulated 0% or 1,088 shares. Citadel Advsrs Limited reported 311,138 shares or 0.01% of all its holdings. Westpac Corp has invested 0% of its portfolio in Kennametal Inc. (NYSE:KMT). Utd Automobile Association holds 0.01% or 76,229 shares in its portfolio. Cs Mckee Lp holds 0.43% or 455,987 shares in its portfolio. Kcg has invested 0.02% of its portfolio in Kennametal Inc. (NYSE:KMT). Ahl Ltd Liability Partnership has 46,177 shares for 0.06% of their US portfolio. Ubs Asset Mngmt Americas Inc has 0% invested in the company for 56,512 shares. Citigroup Incorporated has 3,316 shares for 0% of their US portfolio. Invesco holds 0.02% or 2.74 million shares in its portfolio.
Insider Transactions: Since June 10, 2016, the stock had 1 buying transaction, and 2 selling transactions for $258,888 net activity. Harvey William J. had bought 517 shares worth $12,460 on Friday, June 10. On Friday, November 11 the insider Bacchus Judith L sold $135,674.
More recent Kennametal Inc. (NYSE:KMT) news were published by: Streetinsider.com which released: “Form 4 KENNAMETAL INC For: Nov 29 Filed by: Davis Cindy L” on December 01, 2016. Also Prnewswire.com published the news titled: “Kennametal to attend Global Mizuho Investor Conference” on November 09, 2016. Forbes.com‘s news article titled: “Ex-Dividend Reminder: Parker Hannifin, Kennametal and Boeing” with publication date: November 04, 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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