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KMT

Kennametal

$29.76

-0.97 (-3.16%)

07:16
10/22/19
10/22
07:16
10/22/19
07:16

Kennametal price target lowered to $25 from $30.50 at BMO Capital

BMO Capital analyst Joel Tiss lowered his price target on Kennametal to $25 and kept his Market Perform rating after the company cut its FY20 guidance by $1.10 at the midpoint to $1.90. The analyst notes that his forecast was already below consensus given his low confidence regarding recovery of demand, but sees Kennametal's revision as much greater than estimated. Tiss also contends that the the floor on the stock will be closer to $20 with few signs that a second-half recovery will take place.

  • 29

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KMT Kennametal
$29.76

-0.97 (-3.16%)

07/16/19
07/16/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Home Depot (HD) downgraded to Hold from Buy at Gabelli with analyst Alvaro Lacayo citing valuation. 2. Sonoco (SON) downgraded to Underperform from Market Perform at BMO Capital with analyst Mark Wilde saying the the stock has run up 21% year-to-date and now trades at about 10.5-times his expected FY19 EBITDA and at 6.1% free cash flow yield, both of which are at the high end of their historical valuation ranges. 3. Parker-Hannifin (PH) downgraded to Sell from Neutral at Goldman Sachs with analyst Joseph Ritchie saying he shuffled his ratings in the Americas Multi-Industry ahead of the Q2 earnings season. He sees a "rocky road ahead." 4. FactSet (FDS) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst saying the company's "decelerating" earnings growth brings risk to its "full" valuation. 5. Kennametal (KMT) double downgraded to Sell from Buy at Goldman Sachs. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/21/19
BMOC
08/21/19
NO CHANGE
Target $30.5
BMOC
Market Perform
Kennametal price target lowered to $30.50 from $37 at BMO Capital
BMO Capital analyst Joel Tiss lowered his price target on Kennametal to $30.50 and kept his Market Perform rating, saying the stock will "keep marking time" as the company continues its ongoing restructuring process of operating "simplification" and modernization initiatives. The analyst believes that Kennametal will ultimately be "structurally stronger" with a reduced headcount and a line-up of more modern equipment that will reduce is manufacturing costs and improve production flexibility.
10/22/19
LBOW
10/22/19
DOWNGRADE
LBOW
Neutral
Kennametal downgraded to Neutral from Buy at Longbow
Longbow analyst Chris Dankert downgraded Kennametal to Neutral from Buy without a price target.
10/22/19
LBOW
10/22/19
DOWNGRADE
LBOW
Neutral
Longbow downgrades Kennametal following negative preannouncement
Longbow analyst Chris Dankert downgraded Kennametal to Neutral from Buy without a price target. The "rapid erosion" in end demand has resulted in a negative preannouncement and a sharp reduction to estimates, Dankert tells investors in a research note. Further, the analyst believes additional deterioration and destocking presents additional downside risk. Input costs and negative contract pricing remain headwinds in the near-term for Kennametal, he says.

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