Kaman (NYSE:KAMN) Downgraded by Zacks Investment Research 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 company has a market cap of $1.52 billion, a price-to-earnings 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 firm’s fifty day simple moving average is $53.25. Kaman has a 52 week low of $37.38 and a 52 week high of $59.79.

Kaman (NYSE:KAMN) last issued its quarterly earnings results on Tuesday, May 4th. The industrial products company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.10. The company had revenue of $171.60 million during the quarter, compared to analyst estimates of $167.90 million. Kaman had a negative net margin of 8.29% and a positive return on equity of 6.30%. Kaman’s quarterly revenue was down 17.2% compared to the same quarter last year. During the same period last year, the business earned $0.48 EPS. As a group, equities analysts predict that Kaman will post 1.84 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of Kaman by 4.7% in the first quarter. BlackRock Inc. now owns 4,677,998 shares of the industrial products company’s stock worth $239,935,000 after acquiring 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 fourth quarter. Cardinal Capital Management LLC CT now owns 1,266,453 shares of the industrial products company’s stock worth $72,352,000 after acquiring an additional 158,436 shares during the period. Westwood Holdings Group Inc. grew its stake in shares of Kaman by 27.6% in the first quarter. Westwood Holdings Group Inc. now owns 832,265 shares of the industrial products company’s stock worth $42,687,000 after acquiring 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 first quarter. Investment Counselors of Maryland LLC now owns 753,026 shares of the industrial products company’s stock worth $38,623,000 after acquiring an additional 270,248 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Kaman by 11.2% in the first quarter. Geode Capital Management LLC now owns 445,873 shares of the industrial products company’s stock worth $22,868,000 after buying an additional 44,746 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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