Kaman Corporation (KAMN) Rating Increased to Buy at BidaskClub
Kaman Corporation (NYSE:KAMN) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.
Several other research analysts have also commented on the company. Zacks Investment Research upgraded Kaman Corporation from a “sell” rating to a “hold” rating in a report on Wednesday. Northcoast Research assumed coverage on Kaman Corporation in a report on Tuesday, July 25th. They set a “buy” rating and a $60.00 price target on the stock. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $56.67.
Shares of Kaman Corporation (KAMN) traded down 0.29% during midday trading on Wednesday, reaching $55.29. 38,616 shares of the company traded hands. Kaman Corporation has a 1-year low of $40.85 and a 1-year high of $56.50. The stock has a 50 day moving average price of $50.92 and a 200 day moving average price of $49.61. The firm has a market capitalization of $1.54 billion, a PE ratio of 29.76 and a beta of 0.70.
Kaman Corporation (NYSE:KAMN) last announced its quarterly earnings data on Monday, July 31st. The industrial products company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). Kaman Corporation had a net margin of 2.95% and a return on equity of 9.24%. The firm had revenue of $449.00 million during the quarter, compared to analysts’ expectations of $469.24 million. During the same quarter in the previous year, the business posted $0.64 EPS. The company’s revenue for the quarter was down 4.6% on a year-over-year basis. Analysts expect that Kaman Corporation will post $2.48 earnings per share for the current fiscal year.
In related news, Director Richard J. Swift sold 2,404 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 19,937 shares of the company’s stock, valued at approximately $1,010,805.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.38% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of KAMN. SG Americas Securities LLC acquired a new stake in shares of Kaman Corporation during the 2nd quarter worth about $104,000. Envestnet Asset Management Inc. grew its position in Kaman Corporation by 5.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,176 shares of the industrial products company’s stock valued at $105,000 after acquiring an additional 122 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new position in Kaman Corporation in the 1st quarter valued at about $112,000. Huntington National Bank grew its position in Kaman Corporation by 25.0% in the 2nd quarter. Huntington National Bank now owns 2,500 shares of the industrial products company’s stock valued at $125,000 after acquiring an additional 500 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its position in 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 valued at $132,000 after acquiring an additional 145 shares in 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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