Kadant Inc (NYSE:KAI) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a report issued on Monday, July 24th.
A number of other research analysts have also weighed in on the company. Zacks Investment Research raised Kadant from a “sell” rating to a “hold” rating and set a $80.00 price objective on the stock in a report on Monday, May 1st. Sidoti restated a “buy” rating and issued a $95.00 target price (up previously from $85.00) on shares of Kadant in a research note on Saturday, June 3rd. Barrington Research upped their target price on Kadant from $80.00 to $86.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 31st. Finally, William Blair upgraded Kadant from a “market perform” rating to an “outperform” rating in a research note on Wednesday, May 3rd. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $82.00.
Kadant (KAI) opened at 85.10 on Monday. Kadant has a 12 month low of $49.19 and a 12 month high of $89.90. The firm has a 50-day moving average price of $80.31 and a 200 day moving average price of $69.49. The stock has a market capitalization of $936.44 million, a PE ratio of 28.10 and a beta of 1.36.
Kadant (NYSE:KAI) last announced its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.13. The business had revenue of $110.24 million for the quarter, compared to analyst estimates of $113.49 million. Kadant had a return on equity of 12.68% and a net margin of 8.10%. The company’s revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.88 earnings per share. Equities analysts anticipate that Kadant will post $4.03 earnings per share for the current year.
Kadant declared that its Board of Directors has initiated a share repurchase program on Wednesday, May 17th that allows the company to buyback $20.00 million in outstanding shares. This buyback authorization allows the industrial products company to reacquire up to 2.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
Institutional investors have recently modified their holdings of the company. Citigroup Inc. increased its position in shares of Kadant by 24.2% in the second quarter. Citigroup Inc. now owns 1,411 shares of the industrial products company’s stock worth $106,000 after buying an additional 275 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Kadant during the second quarter worth about $127,000. BNP Paribas Arbitrage SA increased its position in shares of Kadant by 718.3% in the second quarter. BNP Paribas Arbitrage SA now owns 1,743 shares of the industrial products company’s stock worth $131,000 after buying an additional 1,530 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new position in shares of Kadant during the second quarter worth about $150,000. Finally, C M Bidwell & Associates Ltd. acquired a new position in shares of Kadant during the second quarter worth about $176,000. Institutional investors own 89.09% of the company’s stock.
Kadant Company Profile
Kadant Inc is a supplier of equipment and components used in process industries. In addition, the Company manufactures granules made from papermaking by-products. Its segments include Papermaking Systems and Wood Processing Systems. The Company has a customer base, which includes paper and oriented strand board (OSB) manufacturers.
Receive News & Ratings for Kadant Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kadant Inc and related companies with MarketBeat.com's FREE daily email newsletter.