Kaman (NYSE:KAMN) Upgraded by Zacks Investment Research to Strong-Buy

Zacks Investment Research upgraded shares of Kaman (NYSE:KAMN) from a hold rating to a strong-buy rating in a report released on Saturday morning, Zacks.com reports. They currently have $74.00 price objective 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. “

A number of other equities research analysts also recently commented on KAMN. ValuEngine raised Kaman from a buy rating to a strong-buy rating in a research report on Friday, November 1st. TheStreet raised Kaman from a c+ rating to a b rating in a research report on Thursday.

Shares of NYSE:KAMN traded up $0.32 during midday trading on Friday, reaching $64.64. The company’s stock had a trading volume of 113,872 shares, compared to its average volume of 129,077. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of 22.44 and a beta of 0.76. The company has a quick ratio of 1.48, a current ratio of 4.00 and a debt-to-equity ratio of 0.23. Kaman has a 1 year low of $51.34 and a 1 year high of $65.91. The business has a 50 day moving average price of $59.13 and a 200 day moving average price of $59.73.

Kaman (NYSE:KAMN) last announced its quarterly earnings data on Monday, November 4th. The industrial products company reported $0.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.07. The business had revenue of $182.67 million during the quarter, compared to the consensus estimate of $177.33 million. Kaman had a return on equity of 9.94% and a net margin of 14.74%. The business’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.57 earnings per share. Sell-side analysts anticipate that Kaman will post 1.92 earnings per share for the current fiscal year.

In other Kaman news, Director Brian E. Barents sold 6,733 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $56.78, for a total transaction of $382,299.74. Following the completion of the sale, the director now owns 29,144 shares of the company’s stock, valued at $1,654,796.32. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director E Reeves Callaway III sold 1,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $57.25, for a total value of $57,250.00. The disclosure for this sale can be found here. 2.01% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of the business. CWM LLC lifted its stake in shares of Kaman by 3,100.0% during the third quarter. CWM LLC now owns 416 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 403 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Kaman during the second quarter worth about $51,000. Bourgeon Capital Management LLC acquired a new position in shares of Kaman during the third quarter worth about $70,000. Advisory Services Network LLC lifted its stake in shares of Kaman by 45.0% during the second quarter. Advisory Services Network LLC now owns 1,581 shares of the industrial products company’s stock worth $101,000 after purchasing an additional 491 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Kaman by 33.8% during the second quarter. Tower Research Capital LLC TRC now owns 1,631 shares of the industrial products company’s stock worth $104,000 after purchasing an additional 412 shares in the last quarter. 92.63% of the stock is owned by hedge funds and other institutional investors.

Kaman Company Profile

Kaman Corporation operates in the aerospace and distribution markets. The company operates through two segments, Distribution and Aerospace. The Distribution segment distributes electro-mechanical products; bearings; and power transmission, motion control, and electrical and fluid power components, as well as offers value-added services.

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