Increased risk weighs on KENNAMETAL, penalising its rating down to Slightly Negative
The independent financial analyst theScreener just lowered the general evaluation of KENNAMETAL (US), active in the Industrial Machinery industry. As regards its fundamental valuation, the title still shows 2 out of 4 possible stars. Its market behaviour, however, has slightly deteriorated and will be qualified as risky moving forward. theScreener considers that these new qualifications justify an overall rating downgrade to Slightly Negative. As of the analysis date January 11, 2022, the closing price was USD 36.70 and its target price was estimated at USD 31.05.Kennametal engages in the development and application of tungsten carbides, ceramics, materials and solutions used in metal cutting and extreme wear applications. The company's standard and custom product offering spans metalworking and wear applications including turning, milling, hole making, tooling systems and services, as well as other wear components and metallurgical powders. End users of the company's metalworking products include manufacturers engaged in a range of industries including: the manufacturers of transportation vehicles and components, machine tools and light and heavy machinery; airframe and aerospace components; and energy-related components for the oil and gas industry.
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