Upgrade Alert for Kennametal (KMT)
Kennametal (NYSE:KMT) was upgraded from Hold to Buy at BB&T Capital today. The stock closed yesterday at $42.44 on volume of 947,000 shares, above average daily volume of 522,000.
Kennametal share prices have moved between a 52-week high of $44.59 and a 52-week low of $32.65 and closed yesterday at 30% above that low price at $42.44 per share. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has risen 0.3%.
Kennametal (NYSE:KMT) has potential upside of 1.1% based on a current price of $42.44 and analysts' consensus price target of $42.90. Kennametal shares have support at the 50-day moving average (MA) of $40.85 and additional support at the 200-day MA of $39.60.
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.
SmarTrend recommended that subscribers consider buying shares of Kennametal on July 11th, 2013 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $40.48. Since that recommendation, shares of Kennametal have risen 4.8%. We continue to monitor KMT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades kennametal