Kadant (NYSE:KAI) Price Target Raised to $410.00

Kadant (NYSE:KAI) had its target price increased by Barrington Research from $360.00 to $410.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Barrington Research’s price objective would indicate a potential upside of 16.39% from the stock’s previous close.

Kadant Stock Performance

Kadant stock traded down $0.56 during trading hours on Thursday, hitting $352.25. The company had a trading volume of 102,277 shares, compared to its average volume of 84,213. The firm has a 50-day moving average of $370.85 and a 200 day moving average of $332.32. The firm has a market cap of $4.14 billion, a PE ratio of 36.05 and a beta of 1.25. Kadant has a one year low of $249.51 and a one year high of $429.95. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.29 and a quick ratio of 1.46.

Kadant (NYSE:KAI) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.43 by $0.41. Kadant had a net margin of 11.12% and a return on equity of 15.10%. The company had revenue of $271.61 million during the quarter, compared to analysts’ expectations of $266.38 million. During the same period in the previous year, the company earned $2.69 EPS. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. On average, sell-side analysts expect that Kadant will post 10.11 earnings per share for the current year.

Insider Activity at Kadant

In other news, VP Fredrik H. Westerhout sold 600 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $397.25, for a total value of $238,350.00. Following the sale, the vice president now directly owns 1,437 shares of the company’s stock, valued at approximately $570,848.25. This represents a 29.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Thomas C. Leonard sold 2,000 shares of Kadant stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $337.40, for a total transaction of $674,800.00. Following the transaction, the director now owns 4,250 shares in the company, valued at $1,433,950. This represents a 32.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,052 shares of company stock worth $1,091,455. Insiders own 1.40% of the company’s stock.

Institutional Trading of Kadant

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Ashton Thomas Securities LLC acquired a new position in Kadant in the 3rd quarter valued at $25,000. Icon Wealth Advisors LLC purchased a new position in Kadant during the 3rd quarter worth $28,000. Westside Investment Management Inc. acquired a new stake in Kadant in the third quarter valued at $31,000. Park Place Capital Corp increased its holdings in Kadant by 68.6% during the 3rd quarter. Park Place Capital Corp now owns 204 shares of the industrial products company’s stock valued at $69,000 after acquiring an additional 83 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Kadant in the 3rd quarter valued at $74,000. Institutional investors and hedge funds own 96.13% of the company’s stock.

Kadant Company Profile

Kadant Inc supplies technologies and engineered systems worldwide. It operates in three segments: Flow Control, Industrial Processing, and Material Handling. The Flow Control segment develops, manufactures, and markets fluid-handling systems and equipment, such as rotary joints, syphons, turbulator bars, expansion joints, and engineered steam and condensate systems; and doctoring, cleaning, and filtration systems and related consumables consisting of doctor systems and holders, doctor blades, cleaning shower and fabric-conditioning systems, forming systems and wear surfaces, and water-filtration systems.