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Kennametal (NYSE:KMT) was downgraded by investment analysts at Longbow Research from a “buy” rating to a “neutral” rating in a note issued to investors on Friday, TheFlyOnTheWall.com reports. They currently have a $56.00 target price on the stock. Longbow Research’s price objective suggests a potential upside of 29.21% from the stock’s previous close.

Kennametal (NYSE:KMT) traded down 2.28% on Friday, hitting $43.34. 2,228,578 shares of the company’s stock traded hands. Kennametal has a one year low of $35.49 and a one year high of $52.37. The stock has a 50-day moving average of $50.31 and a 200-day moving average of $46.46. The company has a market cap of $3.399 billion and a P/E ratio of 18.24.

Kennametal (NYSE:KMT) last released its earnings data on Friday, January 31st. The company reported $0.52 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.60 by $0.08. The company had revenue of $690.00 million for the quarter, compared to the consensus estimate of $664.40 million. On average, analysts predict that Kennametal will post $2.98 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Wednesday, February 26th. Shareholders of record on Tuesday, February 11th will be given a dividend of 0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Friday, February 7th.

A number of other firms have also recently commented on KMT. Analysts at Credit Suisse downgraded shares of Kennametal from an “outperform” rating to a “neutral” rating in a research note to investors on Monday, January 6th. They now have a $50.00 price target on the stock. Separately, analysts at Goldman Sachs Group Inc. initiated coverage on shares of Kennametal in a research note to investors on Friday, November 15th. They set a “neutral” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Kennametal in a research note to investors on Tuesday, November 12th. They now have a $49.00 price target on the stock. Ten investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $51.33.

Kennametal Inc (NYSE:KMT), is a supplier of tooling, engineered components and advanced materials consumed in production processes.

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