Analysis: Kennametal Inc (NYSE:KMT) Price Target Change Today
In a very recent research note issued to clients and investors by JP Morgan on Friday morning, the firm, Kennametal Inc (NYSE:KMT), had their target downgraded to $28.00. Analusts presently have a solid “Neutral” rating on the stock.
From a total of 10 analysts covering Kennametal Inc. (NYSE:KMT) stock, 4 rate it a ”Buy”, 2 a “Sell”, and 9 a ”Hold”. This means that 27% of the ratings are positive. The highest target price is $46 while the lowest target price is $22. The mean of all analyst targets is $30.8 with a 11.80% above today’s ($25.76) stock price. Kennametal Inc. was the topic of 8 analyst reports since August 3, 2015 according to the firm StockzIntelligence Inc. Bank of America downgraded shares on November 4 to “Underperform” rating.
Approximately 200,826 shares of stock traded hands. Kennametal Inc. (NYSE:KMT) has declined 31.35% since May 8, 2015 and is downtrending. It has underperformed by 28.33% the S&P500.
The overall sentiment of institutions has decreased to 1.02 in Q2 2015. Its down 0.68, from 1.7 in 2015Q2. The ratio is negative, as 43 institutions have sold all the shares of Kennametal Inc. that they owned while 68 funds have taken shares off the table. 22 funds have purchased shares for the first time while 91 added to their positions. These institutions now hold 79.62 million shares or 2.38% more than the 77.77 million shares they owned in 2015Q2.
The Fund Destrier Capital Management Llc currently is holding shares equating to 3.97% of its total portfolio in Kennametal Inc. representing a total of 542,655 shares. Another fund,Tinicum Inc, is holding a total of 321,600 shares equating to 3.88% of their holdings. Additionally, Ariel Investments Llc has a 9.61 million share stake in Kennametal Inc. which represents 2.98% of their total portfolio. The Fund, Snow Capital Management Lp, based out of Pennsylvania, has also built up a stake in the stock, which represents a total of 1.87% of their total portfolio. Finally Quaker Capital Investments Llc, a fund which is based in the state of Pennsylvania reported a total holdings of 122,642 shares.
Kennametal Inc. is a supplier of tooling, engineered components and advanced materials consumed in production processes. The company has a market cap of $2.07 billion. The Firm manages and reports its business in two divisions: Industrial and Infrastructure. It currently has negative earnings. The Firm provides wear-resistant products, application engineering and services backed by material science, serving clients across diverse sectors of industrial production, transportation, earthworks, energy, infrastructure and aerospace.
According to Zacks Investment Research, “Kennametal Inc. is a leading global supplier of tooling, engineered components and advanced materials consumed in production processes. The company improves customers’ competitiveness by providing superior economic returns through the delivery of application knowledge and advanced technology to master the toughest of materials application demands. Companies producing everything from airframes to coal, from medical implants to oil wells and from turbochargers to motorcycle parts recognize Kennametal for extraordinary contributions to their value chains.” Get a free copy of the Zacks research report on Kennametal Inc. (KMT).