Kadant Stock Gaps Up On Today's Open (KAI)

NEW YORK ( TheStreet) -- Shares of Kadant (NYSE: KAI) were gapping up Thursday morning with an open price 17.1% higher than Wednesday's closing price. The stock closed at $27.85 Wednesday and opened today's trading at $32.60.

The average volume for Kadant has been 85,400 shares per day over the past 30 days. Kadant has a market cap of $348.8 million and is part of the consumer goods sector and consumer non-durables industry. Shares are up 18.2% year to date as of the close of trading on Wednesday.

Kadant Inc. develops, manufactures, and markets equipment and products for the papermaking and paper recycling industries. The company has a P/E ratio of 19.2, equal to the average consumer non-durables industry P/E ratio and above the S&P 500 P/E ratio of 16.9.

TheStreet Ratings rates Kadant as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, robust revenue growth and largely solid financial position with reasonable debt levels by most measures. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. You can view the full Kadant Ratings Report.

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