Kaman Corporation (NYSE:KAMN) Upgraded to Buy at BidaskClub
Kaman Corporation (NYSE:KAMN) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Wednesday, October 4th.
A number of other analysts have also commented on KAMN. Zacks Investment Research raised Kaman Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. Northcoast Research began coverage on Kaman Corporation in a research note on Tuesday, July 25th. They issued a “buy” rating and a $60.00 price target for the company. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Kaman Corporation has a consensus rating of “Hold” and an average target price of $56.67.
Shares of Kaman Corporation (NYSE:KAMN) traded up 0.04% during mid-day trading on Wednesday, reaching $55.68. 65,607 shares of the company’s stock traded hands. The stock has a market cap of $1.55 billion, a PE ratio of 29.97 and a beta of 0.70. The firm has a 50 day moving average price of $52.16 and a 200-day moving average price of $49.94. Kaman Corporation has a 12 month low of $40.85 and a 12 month high of $56.50.
Kaman Corporation (NYSE:KAMN) last issued its earnings results on Monday, July 31st. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.01). Kaman Corporation had a return on equity of 9.24% and a net margin of 2.95%. The firm had revenue of $449.00 million during the quarter, compared to the consensus estimate of $469.24 million. During the same quarter in the prior year, the business posted $0.64 EPS. The firm’s revenue for the quarter was down 4.6% on a year-over-year basis. On average, analysts predict that Kaman Corporation will post $2.48 earnings per share for the current fiscal year.
In other Kaman Corporation news, Director Richard J. Swift sold 2,404 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $50.70, for a total transaction of $121,882.80. Following the completion of the transaction, the director now owns 19,937 shares of the company’s stock, valued at $1,010,805.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.38% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio raised its position in shares of Kaman Corporation by 5.8% in the 2nd 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 during the last quarter. Dean Capital Management purchased a new position in shares of Kaman Corporation in the 2nd quarter worth about $3,600,000. Westwood Holdings Group Inc. raised its position in shares of Kaman Corporation by 35.4% in the 2nd quarter. Westwood Holdings Group Inc. now owns 377,545 shares of the industrial products company’s stock worth $18,828,000 after purchasing an additional 98,800 shares during the last quarter. State Street Corp raised its position in shares of Kaman Corporation by 3.7% in the 2nd quarter. State Street Corp now owns 678,248 shares of the industrial products company’s stock worth $33,830,000 after purchasing an additional 24,326 shares during the last quarter. Finally, Flinton Capital Management LLC raised its position in shares of Kaman Corporation by 67.7% in the 2nd 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 during the last quarter. 93.71% of the stock is owned by hedge funds and other institutional investors.
Kaman Corporation Company Profile
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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