Kadant’s (KAI) “Outperform” Rating Reaffirmed at Barrington Research
Kadant (NYSE:KAI)‘s stock had its “outperform” rating reaffirmed by equities researchers at Barrington Research in a report issued on Thursday, Marketbeat Ratings reports. They presently have a $110.00 target price on the industrial products company’s stock. Barrington Research’s target price indicates a potential upside of 13.05% from the company’s current price.
KAI has been the topic of a number of other reports. ValuEngine downgraded Kadant from a “buy” rating to a “hold” rating in a research report on Monday, December 11th. Zacks Investment Research raised Kadant from a “hold” rating to a “strong-buy” rating and set a $126.00 price target on the stock in a research report on Thursday, November 2nd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $112.67.
Shares of Kadant (KAI) opened at $97.30 on Thursday. The company has a current ratio of 2.01, a quick ratio of 1.65 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $1,070.00, a price-to-earnings ratio of 38.76 and a beta of 1.36. Kadant has a twelve month low of $56.15 and a twelve month high of $114.00.
In other news, CFO Michael J. Mckenney sold 3,600 shares of the company’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $99.14, for a total transaction of $356,904.00. Following the transaction, the chief financial officer now directly owns 19,160 shares of the company’s stock, valued at $1,899,522.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Sandra L. Lambert sold 4,000 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $100.01, for a total value of $400,040.00. Following the transaction, the vice president now directly owns 19,257 shares in the company, valued at $1,925,892.57. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,096 shares of company stock worth $3,405,170. Insiders own 5.59% of the company’s stock.
Several hedge funds have recently modified their holdings of KAI. SG Americas Securities LLC acquired a new position in shares of Kadant during the fourth quarter worth $104,000. Meeder Asset Management Inc. increased its position in shares of Kadant by 264.1% in the 4th quarter. Meeder Asset Management Inc. now owns 1,653 shares of the industrial products company’s stock valued at $166,000 after acquiring an additional 1,199 shares during the period. Highbridge Capital Management LLC acquired a new position in shares of Kadant in the 3rd quarter valued at $302,000. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Kadant in the 3rd quarter valued at $329,000. Finally, ClariVest Asset Management LLC acquired a new position in shares of Kadant in the 3rd quarter valued at $378,000. 91.03% of the stock is currently owned by institutional investors and hedge funds.
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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