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

Kaman (NYSE:KAMN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The firm presently has a $69.00 price target on the industrial products company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 10.51% from the stock’s current price.

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. “

Separately, BidaskClub upgraded Kaman from a “hold” rating to a “buy” rating in a research report on Wednesday, October 4th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $64.50.

Shares of Kaman (NYSE:KAMN) traded down $0.17 during mid-day trading on Wednesday, hitting $62.44. The stock had a trading volume of 116,410 shares, compared to its average volume of 125,683. Kaman has a 12-month low of $45.50 and a 12-month high of $62.91. The firm has a market capitalization of $1,741.50, a price-to-earnings ratio of 34.50 and a beta of 0.75. The company has a quick ratio of 1.35, a current ratio of 2.85 and a debt-to-equity ratio of 0.64.

Kaman (NYSE:KAMN) last announced its quarterly earnings results on Thursday, October 26th. The industrial products company reported $0.69 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.07. Kaman had a return on equity of 9.30% and a net margin of 2.90%. The firm had revenue of $447.00 million for the quarter, compared to analyst estimates of $461.06 million. During the same period last year, the firm posted $0.64 earnings per share. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. analysts forecast that Kaman will post 2.34 EPS for the current year.

In other Kaman news, Director Richard J. Swift sold 1,235 shares of Kaman stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $56.00, for a total value of $69,160.00. Following the completion of the sale, the director now directly owns 18,702 shares in the company, valued at $1,047,312. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director E Reeves Callaway III sold 2,697 shares of Kaman stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $56.41, for a total value of $152,137.77. The disclosure for this sale can be found here. 2.38% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the business. SG Americas Securities LLC bought a new stake in Kaman in the second quarter worth approximately $104,000. Cutler Group LP bought a new stake in Kaman in the fourth quarter worth approximately $129,000. Public Employees Retirement System of Ohio increased its holdings in Kaman by 5.8% in the second quarter. Public Employees Retirement System of Ohio now owns 2,652 shares of the industrial products company’s stock worth $132,000 after purchasing an additional 145 shares in the last quarter. Flinton Capital Management LLC increased its holdings in Kaman by 67.7% in the second quarter. Flinton Capital Management LLC now owns 3,706 shares of the industrial products company’s stock worth $185,000 after purchasing an additional 1,496 shares in the last quarter. Finally, Riverhead Capital Management LLC increased its holdings in Kaman by 69.5% in the second quarter. Riverhead Capital Management LLC now owns 3,730 shares of the industrial products company’s stock worth $186,000 after purchasing an additional 1,530 shares in the last quarter. Institutional investors and hedge funds own 92.29% of the company’s stock.

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About Kaman

Kaman Corporation conducts business in the aerospace and distribution markets. The Company operates through two segments: Distribution and Aerospace. The Company’s brands include KAflex, KAron and K-MAX. Distribution segment is a power transmission, motion control, and fluid power industrial distributor with operations throughout the United States.

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