Kadant (KAI) Receiving Somewhat Favorable News Coverage, Report Shows
News coverage about Kadant (NYSE:KAI) has been trending somewhat positive on Sunday, according to Accern Sentiment. The research group ranks the sentiment of media coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Kadant earned a daily sentiment score of 0.15 on Accern’s scale. Accern also assigned news stories about the industrial products company an impact score of 47.5167948950364 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
Here are some of the news stories that may have impacted Accern Sentiment’s analysis:
- Financial Review: MSC Industrial Direct (MSM) and Kadant (KAI) (americanbankingnews.com)
- Kadant Inc (KAI) Expected to Post Quarterly Sales of $141.55 Million (americanbankingnews.com)
- Kadant (NYSE:KAI) and Amtech Systems (ASYS) Head to Head Survey (americanbankingnews.com)
- Zacks Investment Research Upgrades Kadant Inc (KAI) to “Strong-Buy” (americanbankingnews.com)
KAI has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Kadant from a “sell” rating to a “hold” rating and set a $80.00 price target on the stock in a report on Monday, May 1st. William Blair upgraded shares of Kadant from a “market perform” rating to an “outperform” rating in a report on Wednesday, May 3rd. Barrington Research upped their price target on shares of Kadant from $80.00 to $86.00 and gave the company an “outperform” rating in a report on Wednesday, May 31st. Sidoti reiterated a “buy” rating and set a $95.00 price target (up from $85.00) on shares of Kadant in a report on Saturday, June 3rd. Finally, BidaskClub downgraded shares of Kadant from a “buy” rating to a “hold” rating in a report on Monday, July 24th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Kadant currently has an average rating of “Buy” and an average target price of $77.20.
Shares of Kadant (KAI) opened at 85.40 on Friday. The firm has a 50-day moving average of $78.95 and a 200 day moving average of $68.66. Kadant has a 52-week low of $49.20 and a 52-week high of $89.90. The stock has a market capitalization of $939.74 million, a PE ratio of 28.19 and a beta of 1.36.
Kadant (NYSE:KAI) last announced its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.13. Kadant had a net margin of 8.10% and a return on equity of 12.68%. The business had revenue of $110.24 million during the quarter, compared to analysts’ expectations of $113.49 million. During the same period last year, the business earned $0.88 earnings per share. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. Equities research analysts forecast that Kadant will post $4.03 EPS for the current fiscal year.
Kadant announced that its Board of Directors has authorized a share repurchase plan on Wednesday, May 17th that authorizes the company to buyback $20.00 million in shares. This buyback authorization authorizes the industrial products company to repurchase up to 2.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 10th. Shareholders of record on Thursday, July 13th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date was Tuesday, July 11th. Kadant’s dividend payout ratio is presently 27.72%.
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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