Kadant Inc (KAI) Receives Consensus Rating of “Buy” from Brokerages
Shares of Kadant Inc (NYSE:KAI) have been given a consensus rating of “Buy” by the six brokerages that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $104.67.
A number of brokerages have issued reports on KAI. ValuEngine downgraded shares of Kadant from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Sidoti downgraded shares of Kadant from a “buy” rating to a “neutral” rating and set a $102.00 target price for the company. in a research report on Tuesday, October 3rd. Finally, Zacks Investment Research raised shares of Kadant from a “hold” rating to a “strong-buy” rating and set a $126.00 target price for the company in a research report on Thursday, November 2nd.
Shares of Kadant (NYSE KAI) opened at $102.00 on Friday. Kadant has a 52-week low of $56.15 and a 52-week high of $114.00. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.35 and a quick ratio of 1.65. The stock has a market cap of $1,120.00, a PE ratio of 25.68 and a beta of 1.37.
Kadant (NYSE:KAI) last issued its quarterly earnings data on Monday, October 30th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.35. Kadant had a net margin of 8.17% and a return on equity of 14.84%. The business had revenue of $152.79 million during the quarter, compared to the consensus estimate of $141.33 million. During the same period in the prior year, the firm posted $0.81 EPS. The firm’s quarterly revenue was up 44.8% compared to the same quarter last year. equities analysts predict that Kadant will post 4.39 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 8th. Investors of record on Thursday, January 11th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.82%. The ex-dividend date is Wednesday, January 10th. Kadant’s dividend payout ratio (DPR) is presently 24.93%.
In other Kadant news, VP Sandra L. Lambert sold 6,437 shares of the stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $108.66, for a total value of $699,444.42. Following the sale, the vice president now directly owns 20,942 shares in the company, valued at approximately $2,275,557.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William P. Tully sold 1,250 shares of the stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $89.60, for a total transaction of $112,000.00. Following the completion of the sale, the director now owns 5,250 shares in the company, valued at $470,400. The disclosure for this sale can be found here. Insiders sold a total of 27,687 shares of company stock worth $2,887,844 over the last quarter. Corporate insiders own 5.59% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Smith Asset Management Group LP purchased a new stake in shares of Kadant during the 3rd quarter valued at $3,611,000. EAM Investors LLC raised its position in Kadant by 29.1% in the 3rd quarter. EAM Investors LLC now owns 60,938 shares of the industrial products company’s stock worth $6,005,000 after purchasing an additional 13,743 shares during the period. Cortina Asset Management LLC raised its position in Kadant by 107.8% in the 3rd quarter. Cortina Asset Management LLC now owns 182,124 shares of the industrial products company’s stock worth $17,948,000 after purchasing an additional 94,500 shares during the period. Alps Advisors Inc. purchased a new position in Kadant in the 3rd quarter worth $515,000. Finally, State Street Corp raised its position in Kadant by 1.3% in the 2nd quarter. State Street Corp now owns 233,894 shares of the industrial products company’s stock worth $17,590,000 after purchasing an additional 2,895 shares during the period. Hedge funds and other institutional investors own 90.99% of the company’s stock.
Kadant Inc is a supplier of equipment and components used in process industries. In addition, the Company manufactures granules made from papermaking by-products. Its segments include Papermaking Systems and Wood Processing Systems. The Company has a customer base, which includes paper and oriented strand board (OSB) manufacturers.
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