Kadant Inc. (KAI) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Kadant Inc. (NYSE:KAI) have received a consensus recommendation of “Hold” from the six analysts that are covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $94.00.

A number of research analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Kadant from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. ValuEngine lowered shares of Kadant from a “buy” rating to a “hold” rating in a research note on Monday, December 11th.

Kadant (KAI) opened at $98.50 on Friday. Kadant has a 12 month low of $56.15 and a 12 month high of $114.00. The company has a quick ratio of 1.65, a current ratio of 2.35 and a debt-to-equity ratio of 0.84. The stock has a market cap of $1,063.31, a price-to-earnings ratio of 35.69 and a beta of 1.35.

Kadant (NYSE:KAI) last posted its earnings results on Thursday, February 15th. The industrial products company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.06. Kadant had a net margin of 6.04% and a return on equity of 16.18%. The business had revenue of $149.14 million for the quarter, compared to analyst estimates of $144.50 million. equities analysts anticipate that Kadant will post 5.05 earnings per share for the current fiscal year.

In other Kadant news, VP Sandra L. Lambert sold 4,000 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $100.01, for a total value of $400,040.00. Following the sale, the vice president now directly owns 19,257 shares in the company, valued at approximately $1,925,892.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael J. Mckenney sold 3,600 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $99.14, for a total transaction of $356,904.00. Following the completion of the sale, the chief financial officer now owns 19,160 shares in the company, valued at $1,899,522.40. The disclosure for this sale can be found here. Insiders sold a total of 26,819 shares of company stock worth $2,674,705 over the last 90 days. Company insiders own 5.59% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of KAI. SG Americas Securities LLC acquired a new stake in Kadant in the 4th quarter worth $104,000. Citigroup Inc. grew its position in Kadant by 24.2% in the 2nd quarter. Citigroup Inc. now owns 1,411 shares of the industrial products company’s stock worth $106,000 after purchasing an additional 275 shares during the last quarter. Meeder Asset Management Inc. grew its position in Kadant by 264.1% in the 4th quarter. Meeder Asset Management Inc. now owns 1,653 shares of the industrial products company’s stock worth $166,000 after purchasing an additional 1,199 shares during the last quarter. Verition Fund Management LLC acquired a new stake in Kadant in the 2nd quarter worth $215,000. Finally, Highbridge Capital Management LLC acquired a new stake in Kadant in the 3rd quarter worth $302,000. Institutional investors own 91.03% of the company’s stock.

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About Kadant

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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