Recent exceptional positive changes in investment behavior have benefitted Kennametal Inc. (NYSE: KMT): its shorter term price trend turned up, the stock’s recent price rise disrupted its longer term downtrend, and the stock rose on very heavy volume.
Kennametal Inc. (NYSE: KMT) has benefited from slight positive changes in fundamentals: significant quarterly earnings acceleration occurred.
In light of these very positive signals we are reviewing our current Overall Rating of D. We would view the shares with optimism pending completion of this review in the next several days.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to be above the cost of capital, KMT is expected to continue to be a Value Builder.
Kennametal has a current Value Trend Rating of D (Negative). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing consistent signals. Kennametal has a slightly negative Appreciation Score of 39 and a poor Power Rating of 28, producing the Negative Value Trend Rating.
Recent Price Action
Kennametal Inc. (NYSE: KMT) stock enjoyed a large increase of 2.7% on 5/9/24. The stock closed at $26.03. Moreover, exceptionally high trading volume at 200% of normal accompanied the advance. The stock has been weak relative to the market over the last nine months but has risen 9.8% during the last week.
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