Kadant (NYSE:KAI) Earns Outperform Rating from Barrington Research

Kadant (NYSE:KAI)‘s stock had its “outperform” rating restated by equities researchers at Barrington Research in a research note issued to investors on Friday,Benzinga reports. They presently have a $410.00 price objective on the industrial products company’s stock. Barrington Research’s target price suggests a potential upside of 15.78% from the stock’s current price.

Kadant Stock Down 0.8 %

Shares of KAI opened at $354.11 on Friday. The stock has a 50 day moving average price of $363.64 and a 200 day moving average price of $348.74. 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 quick ratio of 1.46 and a current ratio of 2.29. The stock has a market capitalization of $4.16 billion, a price-to-earnings ratio of 36.24 and a beta of 1.29.

Kadant (NYSE:KAI) last announced its earnings results on Wednesday, February 12th. The industrial products company reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.17. Kadant had a net margin of 11.12% and a return on equity of 15.10%. Equities research analysts forecast that Kadant will post 10.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Kadant

In other news, Director Thomas C. Leonard sold 152 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $398.21, for a total transaction of $60,527.92. Following the transaction, the director now owns 4,250 shares of the company’s stock, valued at approximately $1,692,392.50. The trade was a 3.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Fredrik H. Westerhout sold 600 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $397.25, for a total transaction of $238,350.00. Following the completion of the sale, the vice president now directly owns 1,437 shares of the company’s stock, valued at $570,848.25. This represents a 29.46 % decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Kadant

Institutional investors and hedge funds have recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new stake in shares of Kadant during the 3rd quarter valued at approximately $25,000. Hilltop National Bank acquired a new stake in Kadant during the fourth quarter worth $26,000. Icon Wealth Advisors LLC purchased a new stake in Kadant in the third quarter valued at $28,000. Westside Investment Management Inc. acquired a new position in shares of Kadant in the 3rd quarter valued at $31,000. Finally, Jones Financial Companies Lllp lifted its stake in shares of Kadant by 267.9% in the 4th quarter. Jones Financial Companies Lllp now owns 103 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 75 shares during the last quarter. 96.13% of the stock is currently owned by institutional investors and hedge funds.

About Kadant

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.