Kaman (NYSE:KAMN) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Kaman (NYSE:KAMNGet Rating) from a hold rating to a sell rating in a report released on Friday, 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 has been the topic of several other research reports. StockNews.com raised shares of Kaman from a buy rating to a strong-buy rating in a report on Tuesday. KeyCorp lowered their target price on shares of Kaman from $52.00 to $45.00 in a report on Wednesday.

Shares of Kaman stock opened at $34.91 on Friday. Kaman has a 1 year low of $33.93 and a 1 year high of $57.36. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.92 and a current ratio of 4.80. The company has a market capitalization of $973.29 million, a P/E ratio of 24.58 and a beta of 1.23. The company’s fifty day moving average is $41.92 and its two-hundred day moving average is $41.28.

Kaman (NYSE:KAMNGet Rating) last issued its quarterly earnings data on Monday, May 2nd. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.20). Kaman had a return on equity of 6.37% and a net margin of 5.71%. During the same quarter in the previous year, the company earned $0.29 EPS. As a group, equities analysts expect that Kaman will post 1.82 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, April 14th. Stockholders of record on Tuesday, March 15th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend was Monday, March 14th. Kaman’s payout ratio is 56.34%.

A number of hedge funds have recently added to or reduced their stakes in the stock. IndexIQ Advisors LLC purchased a new stake in Kaman during the first quarter worth about $400,000. KBC Group NV boosted its holdings in Kaman by 75.9% during the first quarter. KBC Group NV now owns 2,767 shares of the industrial products company’s stock worth $120,000 after buying an additional 1,194 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in Kaman by 4.1% during the first quarter. New York State Common Retirement Fund now owns 20,025 shares of the industrial products company’s stock worth $871,000 after buying an additional 793 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Kaman by 1,014.6% during the first quarter. Victory Capital Management Inc. now owns 251,835 shares of the industrial products company’s stock worth $9,824,000 after buying an additional 229,240 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Kaman during the first quarter worth about $239,000. 88.29% of the stock is currently owned by hedge funds and other institutional investors.

Kaman Company Profile (Get Rating)

Kaman Corporation, together with its subsidiaries, operates in the aerospace, defense, medical, and industrial markets. The company operates through three segments: Engineered Products, Precision Products, and Structures. The Engineered Products segment produces and markets aircraft bearings and components; super precision miniature ball bearings; and spring energized seals, springs, and contacts.

Featured Articles

Get a free copy of the Zacks research report on Kaman (KAMN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Kaman Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kaman and related companies with MarketBeat.com's FREE daily email newsletter.