UBS Group Increases Kennametal (NYSE:KMT) Price Target to $28.00

Kennametal (NYSE:KMT) had its target price upped by UBS Group from $21.00 to $28.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. UBS Group’s price objective points to a potential upside of 0.67% from the company’s previous close.

Several other equities analysts have also recently weighed in on the company. Wall Street Zen upgraded Kennametal from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. JPMorgan Chase & Co. increased their target price on Kennametal from $22.00 to $25.00 and gave the stock an “underweight” rating in a research report on Friday, November 7th. Barclays raised their target price on Kennametal from $22.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Friday, November 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Kennametal in a report on Wednesday, October 8th. Finally, Zacks Research raised shares of Kennametal from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Seven investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Kennametal currently has a consensus rating of “Reduce” and a consensus price target of $25.83.

Kennametal Price Performance

Shares of NYSE KMT traded up $0.17 during midday trading on Thursday, reaching $27.82. 185,547 shares of the company were exchanged, compared to its average volume of 1,028,183. Kennametal has a one year low of $17.30 and a one year high of $29.84. The stock’s 50-day moving average price is $22.23 and its 200-day moving average price is $22.26. The stock has a market cap of $2.12 billion, a P/E ratio of 23.18, a PEG ratio of 3.83 and a beta of 1.50. The company has a quick ratio of 1.19, a current ratio of 2.46 and a debt-to-equity ratio of 0.45.

Kennametal (NYSE:KMT) last announced its quarterly earnings data on Wednesday, November 5th. The industrial products company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.10. Kennametal had a return on equity of 8.09% and a net margin of 4.73%.The firm had revenue of $497.97 million during the quarter, compared to analysts’ expectations of $477.68 million. During the same quarter last year, the firm posted $0.29 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. Kennametal has set its FY 2026 guidance at 1.350-1.650 EPS. On average, sell-side analysts anticipate that Kennametal will post 1.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of KMT. Brandes Investment Partners LP lifted its stake in Kennametal by 65.9% in the second quarter. Brandes Investment Partners LP now owns 8,154,119 shares of the industrial products company’s stock worth $187,219,000 after purchasing an additional 3,238,093 shares during the last quarter. American Century Companies Inc. lifted its holdings in Kennametal by 44.0% during the 3rd quarter. American Century Companies Inc. now owns 4,221,461 shares of the industrial products company’s stock valued at $88,355,000 after buying an additional 1,289,624 shares in the last quarter. Bridgeway Capital Management LLC purchased a new stake in shares of Kennametal in the first quarter valued at approximately $11,801,000. Arrowstreet Capital Limited Partnership raised its position in Kennametal by 63.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,381,379 shares of the industrial products company’s stock valued at $31,716,000 after purchasing an additional 534,978 shares in the last quarter. Finally, Apollo Management Holdings L.P. purchased a new stake in Kennametal in the second quarter worth about $8,794,000.

Kennametal Company Profile

Kennametal Inc engages in development and application of tungsten carbides, ceramics, and super-hard materials and solutions for use in metal cutting and extreme wear applications to enable customers work against corrosion and high temperatures conditions worldwide. The company operates through two segments, Metal Cutting and Infrastructure.