Kadant (KAI) was Reiterated by Barrington Research to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 63 from a previous price target of $55 . Barrington Research advised their investors in a research report released on Aug 5, 2016.
On the company’s financial health, Kadant reported $0.72 EPS for the quarter, beating the analyst consensus estimate by $ 0.14 according to the earnings call on May 2, 2016. Analyst had a consensus of $0.58. The company had revenue of $96.50 million for the quarter, compared to analysts expectations of $86.37 million. The company’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS.
Kadant opened for trading at $55.85 and hit $56.5725 on the upside on Thursday, eventually ending the session at $55.88, with a gain of 3.64% or 1.96 points. The heightened volatility saw the trading volume jump to 1,12,701 shares. Company has a market cap of $607 M.
In a different news, on Jul 6, 2016, William P Tully (director) sold 3,750 shares at $51.85 per share price. According to the SEC, on Jul 5, 2016, Thomas C Leonard (director) sold 1,250 shares at $52.00 per share price. On Jun 17, 2016, Jonathan W Painter (PRESIDENT AND CEO) sold 10,000 shares at $49.93 per share price, according to the Form-4 filing with the securities and exchange commission.
Kadant Inc. is a supplier of equipment used in process industries. The process industries including papermaking paper recycling and oriented strand board (OSB) an engineered wood panel product used primarily in home construction. In addition the Company manufactures granules made from papermaking byproducts. It operates in two segments: Papermaking Systems and Wood Processing Systems and a separate product line Fiber-based Products. Through its Papermaking Systems segment it develops manufactures and markets a range of equipment and products for the papermaking paper recycling and other process industries. Through its Wood Processing Systems segment it designs manufactures and markets stranders and related equipment. Through its Fiber-based Products business the Company produces biodegradable absorbent granules from papermaking byproducts for use as carriers for agricultural home lawn and garden and professional lawn turf and ornamental applications.