Kennametal (KMT) Earns Daily News Impact Rating of 0.12
Media coverage about Kennametal (NYSE:KMT) has been trending somewhat positive this week, according to Accern Sentiment. The research group ranks the sentiment of news coverage by monitoring more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Kennametal earned a media sentiment score of 0.12 on Accern’s scale. Accern also assigned news coverage about the industrial products company an impact score of 46.4807449676012 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.
KMT has been the subject of several research reports. Wells Fargo & Company upgraded Kennametal from a “market perform” rating to an “outperform” rating and increased their target price for the company from $26.10 to $43.50 in a research report on Friday, August 4th. Zacks Investment Research downgraded Kennametal from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. BidaskClub downgraded Kennametal from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Stifel Nicolaus reiterated a “hold” rating on shares of Kennametal in a research report on Friday, August 4th. Finally, J P Morgan Chase & Co upgraded Kennametal from a “neutral” rating to an “overweight” rating and increased their target price for the company from $40.00 to $43.00 in a research report on Thursday, August 17th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $43.95.
Shares of Kennametal (NYSE:KMT) opened at 40.82 on Thursday. The firm has a market cap of $3.29 billion, a PE ratio of 66.92 and a beta of 1.94. The company’s 50-day moving average price is $36.86 and its 200 day moving average price is $38.10. Kennametal has a 1-year low of $26.79 and a 1-year high of $43.09.
Kennametal (NYSE:KMT) last released its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.08). The business had revenue of $565.03 million for the quarter, compared to the consensus estimate of $562.16 million. Kennametal had a net margin of 2.39% and a return on equity of 12.51%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.44 EPS. On average, analysts predict that Kennametal will post $2.20 EPS for the current year.
In other Kennametal news, VP Charles Michael Jr. Byrnes purchased 1,900 shares of the stock in a transaction on Friday, August 18th. The stock was acquired at an average price of $33.00 per share, with a total value of $62,700.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Christopher Rossi purchased 29,880 shares of the stock in a transaction on Friday, August 18th. The shares were acquired at an average cost of $33.46 per share, with a total value of $999,784.80. Following the transaction, the insider now directly owns 29,850 shares in the company, valued at $998,781. The disclosure for this purchase can be found here. Corporate insiders own 2.00% of the company’s stock.
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Kennametal Company Profile
Kennametal Inc is a supplier of tooling, engineered components and materials consumed in production processes. The Company operates through two segments: Industrial and Infrastructure. The Industrial segment generally serves customers that operate in industrial end markets, such as transportation, general engineering, aerospace and defense.
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