JPMorgan Chase & Co. Cuts Kennametal (NYSE:KMT) Price Target to $30.00

Kennametal (NYSE:KMT) had its price target decreased by analysts at JPMorgan Chase & Co. from $34.00 to $30.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “underweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential downside of 5.57% from the stock’s previous close.

Other research analysts have also issued reports about the company. DA Davidson cut their price target on Kennametal from $34.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, August 11th. Morgan Stanley downgraded Kennametal from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $31.00 to $27.00 in a report on Monday, August 10th. Zacks Research raised shares of Kennametal from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 15th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Kennametal in a report on Monday, August 17th. Finally, UBS Group dropped their target price on shares of Kennametal from $39.00 to $35.00 and set a “neutral” rating for the company in a research note on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, Kennametal currently has a consensus rating of “Reduce” and a consensus target price of $33.50.

Kennametal Trading Down 1.5%

Shares of KMT traded down $0.50 during midday trading on Thursday, hitting $31.77. The stock had a trading volume of 1,542,070 shares, compared to its average volume of 1,410,652. Kennametal has a fifty-two week low of $20.38 and a fifty-two week high of $43.81. The company has a current ratio of 2.62, a quick ratio of 0.98 and a debt-to-equity ratio of 0.42. The firm has a market cap of $2.43 billion, a P/E ratio of 7.22, a price-to-earnings-growth ratio of 0.32 and a beta of 1.33. The business has a 50-day simple moving average of $30.95 and a two-hundred day simple moving average of $34.09.

Kennametal (NYSE:KMT) last released its earnings results on Wednesday, August 5th. The industrial products company reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.65. The company had revenue of $736.61 million for the quarter, compared to analysts’ expectations of $725.74 million. Kennametal had a return on equity of 24.83% and a net margin of 14.53%.The business’s revenue for the quarter was up 42.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.34 EPS. Kennametal has set its Q1 2027 guidance at 2.500-2.800 EPS and its FY 2027 guidance at 4.150-5.150 EPS. As a group, equities analysts forecast that Kennametal will post 4.92 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Sanjay Chowbey purchased 7,000 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The stock was acquired at an average cost of $29.10 per share, with a total value of $203,700.00. Following the acquisition, the chief executive officer owned 246,839 shares in the company, valued at approximately $7,183,014.90. This trade represents a 2.92% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Judith L. Bacchus sold 9,676 shares of the stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $30.29, for a total transaction of $293,086.04. Following the transaction, the vice president owned 15,721 shares in the company, valued at approximately $476,189.09. The trade was a 38.10% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.65% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Kennametal

Several hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in Kennametal during the 2nd quarter worth about $440,446,000. William Blair Investment Management LLC bought a new stake in Kennametal during the second quarter valued at approximately $69,614,000. Medina Value Partners LLC purchased a new position in Kennametal in the second quarter worth $43,007,296. NFJ Investment Group LLC purchased a new position in shares of Kennametal in the 2nd quarter worth about $36,202,000. Finally, Bank of New York Mellon Corp bought a new position in Kennametal during the second quarter valued at approximately $33,949,000.

About Kennametal

Kennametal Inc (NYSE: KMT) is an industrial technology company that develops and manufactures tooling, engineered components, and wear-resistant solutions. Its products are designed to help customers machine, shape, and protect materials used in demanding industrial applications.

The company’s offerings include cutting tools and tooling systems for metalworking, as well as engineered components, advanced materials, and surface technologies intended to improve durability and performance.