Kadant (KAI) is Upgraded by Seaport Global Securities to Buy, Price Target at $58

Kadant (KAI) was Upgraded by Seaport Global Securities to ” Buy” and the brokerage firm has set the Price Target at $58. Earlier the firm had a rating of “Neutral ” on the company shares. Seaport Global Securities advised their investors in a research report released on Aug 18, 2016.

Many Wall Street Analysts have commented on Kadant. Company shares were Reiterated by Barrington Research on Aug 5, 2016 to “Outperform”, Firm has raised the Price Target to $ 63 from a previous price target of $55 .

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 closed down -0.07 points or -0.14% at $51.39 with 45,956 shares getting traded on Wednesday. Post opening the session at $51.04, the shares hit an intraday low of $50.88 and an intraday high of $51.72 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Aug 17, 2016, Sandra L Lambert (VP, GENERAL COUNSEL, SECRETARY) sold 3,316 shares at $51.29 per share price. According to the SEC, on Aug 8, 2016, Jonathan W Painter (PRESIDENT AND CEO) sold 3,000 shares at $56.00 per share price. On Jul 6, 2016, William P Tully (director) sold 3,750 shares at $51.85 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.


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