Kadant (NYSE:KAI) Downgraded to “Buy” at StockNews.com

Kadant (NYSE:KAI – Get Rating) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

Separately, Barrington Research lowered their price objective on Kadant from $239.00 to $229.00 in a research note on Thursday, November 3rd.

Kadant Stock Performance

KAI stock traded down $2.98 during midday trading on Wednesday, reaching $207.70. The company had a trading volume of 82,389 shares, compared to its average volume of 63,869. The firm has a market capitalization of $2.42 billion, a PE ratio of 20.38, a P/E/G ratio of 2.85 and a beta of 1.23. The stock has a 50 day moving average price of $189.88 and a 200 day moving average price of $184.45. Kadant has a fifty-two week low of $154.19 and a fifty-two week high of $220.00. The company has a quick ratio of 1.15, a current ratio of 1.88 and a debt-to-equity ratio of 0.34.

Institutional Trading of Kadant

Several large investors have recently added to or reduced their stakes in the business. Wasatch Advisors Inc. boosted its position in Kadant by 3.6% during the 1st quarter. Wasatch Advisors Inc. now owns 1,608,728 shares of the industrial products company’s stock worth $312,399,000 after acquiring an additional 55,595 shares during the period. Neuberger Berman Group LLC lifted its holdings in Kadant by 5.8% in the third quarter. Neuberger Berman Group LLC now owns 859,408 shares of the industrial products company’s stock worth $143,358,000 after purchasing an additional 47,430 shares during the period. Vanguard Group Inc. grew its position in Kadant by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 622,495 shares of the industrial products company’s stock valued at $103,839,000 after buying an additional 8,394 shares in the last quarter. Chevy Chase Trust Holdings LLC increased its stake in Kadant by 11.1% during the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 575,067 shares of the industrial products company’s stock valued at $95,927,000 after buying an additional 57,365 shares during the period. Finally, Royce & Associates LP raised its position in shares of Kadant by 4.2% during the 3rd quarter. Royce & Associates LP now owns 501,426 shares of the industrial products company’s stock worth $83,643,000 after buying an additional 20,196 shares in the last quarter. 95.84% of the stock is currently owned by institutional investors and hedge funds.

About Kadant

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Kadant Inc is a global supplier of critical components and engineered systems used in process industries worldwide. The firm’s products, technologies, and services play an integral role in enhancing process efficiency, optimizing energy utilization, and maximizing productivity in resource-intensive industries.