Barrington analyst Christopher Howe maintained a Buy rating on Kadant Inc (KAI) today and set a price target of $110. The company’s shares opened today at $82.99.
Howe wrote:
“We are reiterating our OUTPERFORM investment rating and price target of $110 based on the company’s strong parts and consumables revenue mix, which has been further strengthened through the Syntron acquisition (82% of Q1 Syntron revenue was from P&C), solid free cash flow generation and disciplined capital allocation practices. Company Description Kadant, Inc. engages in designing and manufacturing products used in industries ranging from paper to plastics and textiles to tires. It operates through two segments: Papermaking Systems and Wood Processing Systems Business. The Papermaking Systems segment develops, manufactures, and markets a range of equipment and products for the global papermaking, paper recycling, recycling and waste management, and other process industries.”
According to TipRanks.com, Howe is ranked #4989 out of 5173 analysts.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Kadant Inc with a $110 average price target.
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Based on Kadant Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $10.9 million. In comparison, last year the company had a net profit of $10.86 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 two segments: Papermaking Systems and Wood Processing Systems Business.
