Barclays analyst Julian Mitchell maintained a Hold rating on Kennametal (KMT – Research Report) yesterday and set a price target of $28.00. The company’s shares closed yesterday at $24.56.
According to TipRanks, Mitchell is a top 100 analyst with an average return of 13.7% and a 64.88% success rate. Mitchell covers the Industrials sector, focusing on stocks such as 3M, Illinois Tool Works, and Regal Rexnord.
Kennametal has an analyst consensus of Moderate Sell, with a price target consensus of $28.00.
See today’s best-performing stocks on TipRanks >>
Based on Kennametal’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $550.24 million and a net profit of $67.24 million. In comparison, last year the company earned a revenue of $530.02 million and had a net profit of $77.42 million
Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of KMT in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Kennametal (KMT) Company Description:
Kennametal, Inc. engages in the development and application of tungsten carbides, ceramics, super-hard materials, and solutions used in metal cutting and extreme wear applications. It operates through the following segments: Industrial, Widia, and Infrastructure. The Industrial segment develops and manufactures tooling and metalworking products and services. The Widia segment offers standard and custom metal cutting solutions to general engineering, aerospace, energy, and transportation customers. The Infrastructure segment produces engineered tungsten carbide and ceramic components, earth-cutting tools, and metallurgical powders. The company was founded by Philip M. McKenna in 1938 and is headquartered in Pittsburgh, PA.
Read More on KMT:
