Zacks Investment Research Downgrades Kaman (NYSE:KAMN) to Hold

Kaman (NYSE:KAMN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

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. “

KAMN stock opened at $54.68 on Wednesday. The business’s 50-day moving average price is $53.25. The company 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. Kaman has a 1 year low of $37.38 and a 1 year high of $59.79.

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

A number of hedge funds have recently added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund boosted its stake in shares of Kaman by 1.8% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 11,254 shares of the industrial products company’s stock worth $577,000 after buying an additional 200 shares during the last quarter. US Bancorp DE boosted its stake in shares of Kaman by 9.3% during the 1st quarter. US Bancorp DE now owns 2,526 shares of the industrial products company’s stock worth $129,000 after buying an additional 214 shares during the last quarter. Mutual of America Capital Management LLC boosted its stake in shares of Kaman by 7.3% during the 1st quarter. Mutual of America Capital Management LLC now owns 3,704 shares of the industrial products company’s stock worth $190,000 after buying an additional 251 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Kaman by 2.7% during the 1st quarter. Bank of Montreal Can now owns 13,989 shares of the industrial products company’s stock worth $743,000 after buying an additional 370 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its stake in shares of Kaman by 6.6% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 6,743 shares of the industrial products company’s stock worth $346,000 after buying an additional 417 shares during the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.

About Kaman

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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