Barclays analyst Julian Mitchell maintained a Buy rating on Kennametal (KMT) on June 3 and set a price target of $43. The company’s shares opened today at $32.52, close to its 52-week low of $30.32.
According to TipRanks.com, Mitchell is a 5-star analyst with an average return of 12.2% and a 75.3% success rate. Mitchell covers the Industrial Goods sector, focusing on stocks such as Gardner Denver Holdings Inc, Gates Industrial Corp Plc, and Emerson Electric Company.
Kennametal has an analyst consensus of Moderate Buy, with a price target consensus of $43.
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Based on Kennametal’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $68.55 million. In comparison, last year the company had a net profit of $50.87 million.
Based on the recent corporate insider activity of 60 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of KMT in relation to earlier this year.
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Kennametal, Inc. engages in the manufacture of tungsten carbide metal cutting tooling. It operates through the following segments: Industrial, Widia, and Infrastructure.
