(March 17, 2011)
Shares of Kaydon Co. (KDN) saw unusually high trading volume on Thursday. Approximately 170,132 shares changed hands during mid-day trading, an increase of 2.75% from the previous session. The stock last traded at $37.78.
On a related note, analysts at Deutsche Bank (NYSE: DB) raised their price target on shares of Kaydon Co. from $40.00 to $42.00 in a research note to investors on Monday, February 28th. They now have a “hold” rating on the stock. Separately, analysts at Zacks Investment Research reiterated a “neutral” rating on shares of Kaydon Co. in a research note to investors on Monday, January 3rd.
Kaydon Corporation (Kaydon) is a designer and manufacturer of custom engineered, performance-critical products for diverse customer base. The Companyâ#8364;™s principal products include bearings and components, filters and filter housings, custom rings, shaft seals, linear deceleration products, specialty balls, fuel cleansing systems, gas-phase air filtration systems and replacement media, industrial presses and metal alloy products. These products are used by customers in a variety of alternative energy, robotics, medical, material handling, machine tool positioning, aerospace, defense, security, electronic and other industrial applications. The Company operates in four business segments: Friction Control Products, Velocity Control Products, Sealing Products and Other businesses.
Kaydon Co. last announced its quarterly results on Friday, February 25th. The company reported $0.34 earnings per share (EPS) for the previous quarter, missing the Thomson Reuters consensus estimate of $0.36 EPS by $0.02. During the same quarter in the prior year, the company posted $0.34 earnings per share. The company’s quarterly revenue was down 3.7% on a year-over-year basis. On average, analysts predict that Kaydon Co. will post $0.49 EPS next quarter.
Shares of Kaydon Co. (KDN) traded up 2.11% during mid-day trading on Thursday, hitting $37.75. Kaydon Co. has a 52 week low of $31.25 and a 52 week high of $45.69. The stock’s 50-day moving average is $39.31 and its 200-day moving average is $37.16. The company has a market cap of $1.238 billion and a price-to-earnings ratio of 22.14.
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