Seaport Global Upgrades Kadant to Buy

Brokerage firm Seaport Global Upgrades its rating on Kadant(NYSE:KAI). The shares have been rated Buy. Previously, the analysts had a Neutral rating on the shares. The rating by Seaport Global was issued on Aug 18, 2016.

Kadant (KAI) made into the market gainers list on Mondays trading session with the shares advancing 0.28% or 0.15 points. Due to strong positive momentum, the stock ended at $54.46, which is also near the day’s high of $54.62. The stock began the session at $54.29 and the volume stood at 18,869 shares. The 52-week high of the shares is $56.5725 and the 52 week low is $33.38. The company has a current market capitalization of $593 M and it has 1,08,97,252 shares in outstanding.

Kadant(KAI) last announced its earnings results on Aug 3, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $111.83M. Analysts had an estimated revenue of $104.44M. Earnings per share were $0.88. Analysts had estimated an EPS of $0.65.

Several Insider Transactions has been reported to the SEC. On Aug 18, 2016, Sandra L Lambert (VP, GENERAL COUNSEL, SECRETARY) sold 4,118 shares at $52.00 per share price.Also, On Aug 8, 2016, Jonathan W Painter (PRESIDENT AND CEO) sold 3,000 shares at $56.00 per share price.On Jul 6, 2016, William P Tully (director) sold 3,750 shares at $51.85 per share price, according to the Form-4 filing with the securities and exchange commission.

Kadant Inc. is a supplier of equipment used in process industries. The process industries including papermaking paper recycling and oriented strand board (OSB) an engineered wood panel product used primarily in home construction. In addition the Company manufactures granules made from papermaking byproducts. It operates in two segments: Papermaking Systems and Wood Processing Systems and a separate product line Fiber-based Products. Through its Papermaking Systems segment it develops manufactures and markets a range of equipment and products for the papermaking paper recycling and other process industries. Through its Wood Processing Systems segment it designs manufactures and markets stranders and related equipment. Through its Fiber-based Products business the Company produces biodegradable absorbent granules from papermaking byproducts for use as carriers for agricultural home lawn and garden and professional lawn turf and ornamental applications.

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