Kaman Corporation (NYSE:KAMN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.
According to Zacks, “Kaman Corporation is in the following business segments: Aerospace, Industrial Distribution, and Music Distribution. The Aerospace segment serves commercial, U.S. defense and foreign government markets. The Industrial Distribution segment serves nearly every sector of U.S. industry with industrial replacement parts as well as support services. The Music Distribution segment serves domestic and foreign markets with a wide variety of music instruments and accessories and manufactures guitars and other music products for professional and amateur musicians. “
A number of other analysts also recently issued reports on the stock. BidaskClub upgraded shares of Kaman Corporation from a “strong sell” rating to a “sell” rating in a report on Thursday, July 6th. Northcoast Research started coverage on shares of Kaman Corporation in a report on Tuesday, July 25th. They issued a “buy” rating and a $60.00 target price for the company. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. Kaman Corporation presently has a consensus rating of “Hold” and an average price target of $54.75.
Kaman Corporation (KAMN) traded down 0.02% on Thursday, hitting $50.76. The stock had a trading volume of 134,727 shares. The firm’s 50 day moving average price is $50.51 and its 200-day moving average price is $49.51. Kaman Corporation has a 12 month low of $40.85 and a 12 month high of $53.41. The stock has a market cap of $1.42 billion, a PE ratio of 27.29 and a beta of 0.69.
Kaman Corporation (NYSE:KAMN) last announced its quarterly earnings results on Monday, July 31st. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.49 by $0.01. The firm had revenue of $449 million for the quarter, compared to analyst estimates of $469.24 million. Kaman Corporation had a return on equity of 9.35% and a net margin of 2.95%. The firm’s quarterly revenue was down 4.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.64 EPS. On average, analysts forecast that Kaman Corporation will post $2.48 EPS for the current year.
WARNING: This article was first published by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this article on another website, it was illegally copied and reposted in violation of U.S. and international trademark & copyright legislation. The correct version of this article can be viewed at https://stocknewstimes.com/2017/08/04/zacks-investment-research-downgrades-kaman-corporation-kamn-to-sell.html.
Hedge funds have recently bought and sold shares of the stock. Envestnet Asset Management Inc. increased its stake in Kaman Corporation by 7.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,054 shares of the industrial products company’s stock valued at $100,000 after buying an additional 151 shares during the period. SG Americas Securities LLC bought a new stake in Kaman Corporation during the second quarter valued at $104,000. Flinton Capital Management LLC bought a new stake in Kaman Corporation during the first quarter valued at $106,000. Ameritas Investment Partners Inc. bought a new stake in Kaman Corporation during the first quarter valued at $112,000. Finally, Huntington National Bank increased its stake in Kaman Corporation by 25.0% in the second quarter. Huntington National Bank now owns 2,500 shares of the industrial products company’s stock valued at $125,000 after buying an additional 500 shares during the period. Hedge funds and other institutional investors own 99.18% of the company’s stock.
About Kaman Corporation
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.
Receive News & Ratings for Kaman Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kaman Corporation and related companies with MarketBeat.com's FREE daily email newsletter.
