Kennametal (KMT) : Traders are bullish on Kennametal (KMT) as it has outperformed the S&P 500 by a wide margin of 23.34% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 10.43%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 10.9% in the last 1 week, and is up 26.41% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Kennametal (NYSE:KMT): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $26.55 and $26.55 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $27.67. The buying momentum continued till the end and the stock did not give up its gains. It closed at $27.57, notching a gain of 4.27% for the day. The total traded volume was 1,146,447 . The stock had closed at $26.44 on the previous day.
The stock has recorded a 20-day Moving Average of 14.36% and the 50-Day Moving Average is 15.67%. Kennametal Inc. is up 17.1% in the last 3-month period. Year-to-Date the stock performance stands at 46.51%.
Kennametal (KMT) stock is expected to deviate a maximum of $6.02 from the average target price of $26.2 for the short term period. 5 Street Experts have initiated coverage on the stock with the most promising target being $31 and the most muted being $16.
Kennametal Inc. (Kennametal) is a supplier of tooling, engineered components and advanced materials consumed in production processes. The Company manages and reports its business in two segments: Industrial and Infrastructure. The Company provides wear-resistant products, application engineering and services backed by material science, serving customers across diverse sectors of industrial production, transportation, earthworks, energy, infrastructure and aerospace. The Company markets its products under the brands, Kennametal and WIDIA. The Companys product offering includes a selection of standard and customized technologies for metalworking, such as metal cutting tools, tooling systems and services, as well as materials, such as cemented tungsten carbide products, super alloys, coatings and investment castings to address customer demands. It offers these products through a range of channels to meet customer-specified needs.