Kadant Inc (KAI) Rating Lowered to Hold at BidaskClub

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.

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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.

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