Goldman Sachs Group lowered shares of Kennametal (NYSE:KMT) from a buy rating to a sell rating in a research report released on Tuesday morning, BenzingaRatingsTable reports. They currently have $30.00 price objective on the industrial products company’s stock, down from their prior price objective of $43.00.

A number of other equities analysts also recently commented on KMT. Barclays boosted their price objective on Stanley Black & Decker from $135.00 to $145.00 and gave the stock an overweight rating in a research report on Wednesday, April 3rd. KeyCorp reissued a buy rating and set a $65.00 price objective on shares of Talend in a research report on Wednesday, May 8th. ValuEngine raised Vistra Energy from a hold rating to a buy rating in a research report on Wednesday, July 3rd. Bank of America set a $10.00 price objective on HEXO and gave the stock a buy rating in a research report on Thursday, June 13th. Finally, Zacks Investment Research downgraded Haynes International from a hold rating to a sell rating in a research report on Wednesday, May 8th. Four analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. The company has an average rating of Hold and an average target price of $42.50.

Shares of Kennametal stock opened at $34.19 on Tuesday. Kennametal has a one year low of $30.32 and a one year high of $45.10. The firm has a market capitalization of $2.82 billion, a P/E ratio of 12.90, a PEG ratio of 1.25 and a beta of 2.26. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.34 and a current ratio of 2.70. The stock’s 50-day moving average is $33.84.

Kennametal (NYSE:KMT) last announced its quarterly earnings data on Monday, May 6th. The industrial products company reported $0.77 EPS for the quarter, missing the Zacks’ consensus estimate of $0.79 by ($0.02). Kennametal had a return on equity of 19.66% and a net margin of 10.28%. The company had revenue of $597.20 million for the quarter, compared to analyst estimates of $626.27 million. During the same period in the prior year, the firm posted $0.70 earnings per share. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. On average, analysts forecast that Kennametal will post 3.05 EPS for the current year.

In related news, Director Lawrence W. Stranghoener sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $31.98, for a total transaction of $223,860.00. Following the completion of the sale, the director now owns 26,108 shares in the company, valued at $834,933.84. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.00% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of KMT. Norges Bank purchased a new stake in Kennametal during the fourth quarter worth approximately $31,958,000. Lazard Asset Management LLC lifted its stake in Kennametal by 20.2% during the first quarter. Lazard Asset Management LLC now owns 5,622,390 shares of the industrial products company’s stock worth $206,622,000 after purchasing an additional 945,630 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Kennametal by 7.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,520,588 shares of the industrial products company’s stock worth $83,884,000 after purchasing an additional 177,905 shares during the last quarter. Geode Capital Management LLC lifted its stake in Kennametal by 12.4% in the fourth quarter. Geode Capital Management LLC now owns 897,794 shares of the industrial products company’s stock valued at $29,878,000 after buying an additional 99,386 shares during the last quarter. Finally, Royce & Associates LP lifted its stake in Kennametal by 35.8% in the first quarter. Royce & Associates LP now owns 217,400 shares of the industrial products company’s stock valued at $7,989,000 after buying an additional 57,300 shares during the last quarter. Hedge funds and other institutional investors own 98.90% of the company’s stock.

Kennametal Company Profile

Kennametal Inc develops and applies tungsten carbides, ceramics, super-hard materials, and solutions for use in metal cutting and mission-critical wear applications to combat extreme conditions related with wear fatigue, corrosion, and high temperatures worldwide. The company operates through three segments: Industrial, Widia, and Infrastructure.

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Analyst Recommendations for Kennametal (NYSE:KMT)

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