We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Kadant (KAI) Upgraded to Strong Buy on Solid Q3 & Outlook
Read MoreHide Full Article
Zacks Investment Research upgraded Kadant Inc. (KAI - Free Report) to a Zacks Rank #1 (Strong Buy) on Nov 4, 2016. Going by the Zacks model, companies sporting a Zacks Rank #1 have strong chances of outperforming the broader market in the near term.
Why the Upgrade?
Market sentiments have been favoring Kadant Inc. since the beginning of 2016, as evident from the 29.3% rise in the company’s share price to date. Also, the company’s financial performance in last four quarters has been impressive, with a positive average earnings surprise of 27.67%.
In third-quarter 2016, Kadant Inc’s earnings of 81 cents per share surpassed the Zacks Consensus Estimate of 64 cents while revenues grew 15% year over year. Sales growth for the Doctoring, Cleaning, & Filtration and Fluid-Handling product lines grew on organic initiatives, while that for the Stock-Preparation product line was driven by acquisition gains.
On the back of its organic and inorganic growth initiatives as well as its performance in the first nine months of 2016, Kadant Inc. has increased its adjusted earnings guidance to $2.99−$3.05 per share from the previous projection of $2.98−$3.04.
Impressive results and outlook have made investors optimistic about Kadant Inc’s prospects. Over the last 30 days, the Zacks Consensus Estimate for the stock increased 0.7% to $3.03 for 2016.
Applied Industrial Technologies’ earnings estimates for fiscal 2017 and fiscal 2018 have been revised upward over the last 60 days. Average earnings surprise for the last four quarters is a positive 4.93%.
AO Smith Corp. reported better-than-expected results in the last four quarters, with a positive average earnings surprise of 5.88%. Also, bottom-line expectations for 2016 and 2017 have improved over the past 60 days.
Schneider Electric SE’s earnings estimates for 2017 represent a year-over-year growth of 4.65%.
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Kadant (KAI) Upgraded to Strong Buy on Solid Q3 & Outlook
Zacks Investment Research upgraded Kadant Inc. (KAI - Free Report) to a Zacks Rank #1 (Strong Buy) on Nov 4, 2016. Going by the Zacks model, companies sporting a Zacks Rank #1 have strong chances of outperforming the broader market in the near term.
Why the Upgrade?
Market sentiments have been favoring Kadant Inc. since the beginning of 2016, as evident from the 29.3% rise in the company’s share price to date. Also, the company’s financial performance in last four quarters has been impressive, with a positive average earnings surprise of 27.67%.
In third-quarter 2016, Kadant Inc’s earnings of 81 cents per share surpassed the Zacks Consensus Estimate of 64 cents while revenues grew 15% year over year. Sales growth for the Doctoring, Cleaning, & Filtration and Fluid-Handling product lines grew on organic initiatives, while that for the Stock-Preparation product line was driven by acquisition gains.
On the back of its organic and inorganic growth initiatives as well as its performance in the first nine months of 2016, Kadant Inc. has increased its adjusted earnings guidance to $2.99−$3.05 per share from the previous projection of $2.98−$3.04.
Impressive results and outlook have made investors optimistic about Kadant Inc’s prospects. Over the last 30 days, the Zacks Consensus Estimate for the stock increased 0.7% to $3.03 for 2016.
KADANT INC Price and Consensus
KADANT INC Price and Consensus | KADANT INC Quote
Other Stocks to Consider
Kadant Inc. currently has a market capitalization of $572 million. Other stocks worth mentioning in the machinery industry include Applied Industrial Technologies, Inc. (AIT - Free Report) , AO Smith Corp. (AOS - Free Report) and Schneider Electric SE (SBGSY - Free Report) . All these stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Applied Industrial Technologies’ earnings estimates for fiscal 2017 and fiscal 2018 have been revised upward over the last 60 days. Average earnings surprise for the last four quarters is a positive 4.93%.
AO Smith Corp. reported better-than-expected results in the last four quarters, with a positive average earnings surprise of 5.88%. Also, bottom-line expectations for 2016 and 2017 have improved over the past 60 days.
Schneider Electric SE’s earnings estimates for 2017 represent a year-over-year growth of 4.65%.
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>