Kennametal (KMT) Shares Fall as Barrington Downgrades to Market Perform
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Price: $29.96 +0.60%
Rating Summary:
5 Buy, 9 Hold, 5 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
5 Buy, 9 Hold, 5 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Shares of Kennametal (NYSE: KMT) have dipped in mid-day trade Thursday following an intraday downgrade from Barrington Research's Walter Liptak. The analyst now rates Kennametal shares a Market Perform, down from Outperform previously.
Liptak cited, "lower-than-expected May 2012 organic orders. While we still believe that KMT is emerging as a high-quality, diversified industrial company, global economic and industrial slowing is causing orders to go negative."
The analyst reduced his Q4 sales estimate from $786 million to $750 million and his EPS estimate from $1.09 to $1.03. His FY13 EPS estimate was reduced from $4.50 to $4.00.
Kennametal shares are now down 0.8 percent to $32.83.
For an analyst ratings summary and ratings history on Kennametal click here. For more ratings news on Kennametal click here.
Liptak cited, "lower-than-expected May 2012 organic orders. While we still believe that KMT is emerging as a high-quality, diversified industrial company, global economic and industrial slowing is causing orders to go negative."
The analyst reduced his Q4 sales estimate from $786 million to $750 million and his EPS estimate from $1.09 to $1.03. His FY13 EPS estimate was reduced from $4.50 to $4.00.
Kennametal shares are now down 0.8 percent to $32.83.
For an analyst ratings summary and ratings history on Kennametal click here. For more ratings news on Kennametal click here.
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