In a report released today, Gary Prestopino from Barrington maintained a Buy rating on Kadant (KAI – Research Report), with a price target of $229.00. The company’s shares closed yesterday at $200.00.
According to TipRanks, Prestopino is a top 100 analyst with an average return of 24.1% and a 54.45% success rate.
Currently, the analyst consensus on Kadant is a Moderate Buy with an average price target of $229.00.
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Based on Kadant’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $224.51 million and a net profit of $27.49 million. In comparison, last year the company earned a revenue of $199.79 million and had a net profit of $20.46 million
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Kadant, Inc. engages in designing and manufacturing products used in industries ranging from paper to plastics and textiles to tires. It operates through the following segments: Papermaking Systems, Wood Processing Systems, and Fiber-based Products Business segments. The Papermaking Systems segment develops, manufactures, and markets equipments and products for the global papermaking, paper recycling, recycling and waste management, and other process industries. The Wood Processing Systems segment includes the development, manufacturing, and marketing of stranders and related equipment used in the harvesting of oriented strand board and lumber. The Fiber-based Products Business segment manufactures and sells biodegradable and absorbent granules from papermaking products. The firm’s products include alignment conveyor, tubular filter materials, and angleset indicator. The company was founded in November 1991 and is headquartered in Westford, MA.
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