Kaman (NYSE:KAMN) Upgraded by Zacks Investment Research to “Buy”

Zacks Investment Research upgraded shares of Kaman (NYSE:KAMN) from a hold rating to a buy rating in a research report released on Thursday, Zacks.com reports. The brokerage currently has $62.00 price target on the industrial products company’s stock.

According to Zacks, “Kaman Corporation is in the aerospace and industrial distribution markets. The company produces and/or markets widely used proprietary aircraft bearings and components; complex metallic and composite aerostructures for commercial, military and general aviation fixed and rotary wing aircraft; aerostructure engineering design analysis and FAA certification services; safe and arm solutions for missile and bomb systems for the U.S. and allied militaries; design and supply of aftermarket parts to MRO aerospace markets; K-MAX medium to heavy lift helicopters; and support for the company’s SH-2G Super Seasprite maritime helicopters and K-MAX aircraft. Additionally, Kaman provides engineering, design and support for automation, electrical, linear, hydraulic and pneumatic systems as well as belting and rubber fabrication, customized mechanical services, hose assemblies, repair, fluid analysis and motor management. “

Shares of NYSE KAMN opened at $54.68 on Thursday. Kaman has a 12-month low of $37.38 and a 12-month high of $59.79. The stock has a market cap of $1.52 billion, a PE ratio of -24.52 and a beta of 1.35. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.25 and a current ratio of 3.49. The company’s 50-day simple moving average is $53.25.

Kaman (NYSE:KAMN) last announced its quarterly earnings data on Tuesday, May 4th. The industrial products company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.10. Kaman had a negative net margin of 8.29% and a positive return on equity of 6.30%. The company had revenue of $171.60 million during the quarter, compared to analysts’ expectations of $167.90 million. During the same quarter in the prior year, the company earned $0.48 EPS. Kaman’s revenue was down 17.2% compared to the same quarter last year. On average, research analysts anticipate that Kaman will post 1.84 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. grew its stake in shares of Kaman by 4.7% in the 1st quarter. BlackRock Inc. now owns 4,677,998 shares of the industrial products company’s stock valued at $239,935,000 after buying an additional 209,847 shares during the period. Cardinal Capital Management LLC CT grew its stake in shares of Kaman by 14.3% in the 4th quarter. Cardinal Capital Management LLC CT now owns 1,266,453 shares of the industrial products company’s stock valued at $72,352,000 after buying an additional 158,436 shares during the period. Westwood Holdings Group Inc. grew its stake in shares of Kaman by 27.6% in the 1st quarter. Westwood Holdings Group Inc. now owns 832,265 shares of the industrial products company’s stock valued at $42,687,000 after buying an additional 180,249 shares during the period. Investment Counselors of Maryland LLC grew its stake in shares of Kaman by 56.0% in the 1st quarter. Investment Counselors of Maryland LLC now owns 753,026 shares of the industrial products company’s stock valued at $38,623,000 after buying an additional 270,248 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Kaman by 11.2% in the 1st quarter. Geode Capital Management LLC now owns 445,873 shares of the industrial products company’s stock valued at $22,868,000 after buying an additional 44,746 shares during the period. 92.03% of the stock is owned by institutional investors and hedge funds.

Kaman Company Profile

Kaman Corporation, together with its subsidiaries, operates in the aerospace, medical, and industrial markets. The company produces and markets aircraft bearings and components; super precision miniature ball bearings; spring energized seals, springs, and contacts; and metallic and composite aero structures for commercial, military, and general aviation fixed and rotary wing aircrafts.

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