Kennametal (NYSE:KMT) downgraded to Neutral from Overweight, target lowered to $30 from $35, at JP Morgan. The stock closed yesterday at $27.79 on volume of 2,365,900 shares, above the average daily volume of 903,243.
In the past 52-weeks, shares of Kennametal have traded between a low of $19.31 and a high of $34.89 and are now at $27.79, which is 43.9% above that low price.
Kennametal is currently above its 50-day moving average (MA) of $27.23 and above its 200-day MA of $27.24. In the last five trading sessions, the 50-day MA has fallen 0.74% while the 200-day MA has risen 0.43%.
Kennametal Inc. manufactures, purchases, and distributes tools, tooling systems, and solutions to the metalworking, mining, oil, and energy industries. The Company also manufactures and distributes wear-resistant parts for a wide range of industries. Kennametal operates worldwide.