Kennametal (KMT) : Traders are bullish on Kennametal (KMT) as it has outperformed the S&P 500 by a wide margin of 2.88% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 3.99%, 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 4.16% in the last 1 week, and is up 2.33% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 4.44% and the 50-Day Moving Average is 6.09%.The 200 Day SMA reached 28%
Kennametal (NYSE:KMT): After opening at $28.71, the stock dipped to an intraday low of $28.52 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $29.35 and the buying power remained strong till the end. The stock closed at $29.02 for the day, a gain of 1.79% for the day session. The total traded volume was 1,017,476. The stocks close on the previous trading day was $29.02.
Kennametal (KMT) : The highest level Kennametal (KMT) is projected to reach is $31 for the short term and the lowest estimate is at $16. The consolidated price target from 5 rating analysts who initiate coverage on the stock is $25.2 and the possibility the share price can swing is $6.46.
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.