Notable Price Action: Kaman Corporation Just Reaches 52-Week High?

Notable Price Action: Kaman Corporation Just Reaches 52 Week High?

The stock of Kaman Corporation (NYSE:KAMN) hit a new 52-week high and has $51.80 target or 5.00% above today’s $49.33 share price. The 6 months bullish chart indicates low risk for the $1.33 billion company. The 1-year high was reported on Nov, 25 by Barchart.com. If the $51.80 price target is reached, the company will be worth $66.50 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 0.78% or $0.38 on November 25, hitting $49.33. About 50,206 shares traded hands. Kaman Corporation (NYSE:KAMN) has risen 15.45% since April 22, 2016 and is uptrending. It has outperformed by 10.04% the S&P500.

Analysts await Kaman Corporation (NYSE:KAMN) to report earnings on March, 6. They expect $0.69 earnings per share, 0.00% or $0.00 from last year’s $0.69 per share. KAMN’s profit will be $18.60M for 17.87 P/E if the $0.69 EPS becomes a reality. After $0.64 actual earnings per share reported by Kaman Corporation for the previous quarter, Wall Street now forecasts 7.81% EPS growth.

Kaman Corporation (NYSE:KAMN) Ratings Coverage

Out of 2 analysts covering Kaman (NYSE:KAMN), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. Kaman has been the topic of 2 analyst reports since July 21, 2015 according to StockzIntelligence Inc. As per Thursday, December 10, the company rating was upgraded by Longbow. KeyBanc Capital Markets initiated the shares of KAMN in a report on Tuesday, July 21 with “Sector Weight” rating.

According to Zacks Investment Research, “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.”

Insitutional Activity: The institutional sentiment increased to 1.62 in Q2 2016. Its up 0.67, from 0.95 in 2016Q1. The ratio is positive, as 17 funds sold all Kaman Corporation shares owned while 45 reduced positions. 8 funds bought stakes while 51 increased positions. They now own 26.13 million shares or 1.49% less from 26.53 million shares in 2016Q1.
Creative Planning holds 0% or 340 shares in its portfolio. Wells Fargo & Com Mn accumulated 0% or 35,030 shares. Barclays Public Ltd Co has invested 0% of its portfolio in Kaman Corporation (NYSE:KAMN). Northern Tru has 651,502 shares for 0.01% of their US portfolio. Arizona State Retirement Systems holds 0.01% or 14,027 shares in its portfolio. Huntington National Bank & Trust owns 2,000 shares or 0% of their US portfolio. Hennessy Advsr has 0.13% invested in the company for 102,000 shares. Loomis Sayles & Ltd Partnership accumulated 11 shares or 0% of the stock. Texas Permanent School Fund has 20,693 shares for 0.01% of their US portfolio. Ny State Teachers Retirement Sys, a New York-based fund reported 67,819 shares. Mycio Wealth Prns Lc holds 1,000 shares or 0.01% of its portfolio. The California-based California Employees Retirement System has invested 0% in Kaman Corporation (NYSE:KAMN). Guggenheim Ltd Liability Company accumulated 23,389 shares or 0% of the stock. Teton Advisors owns 197,301 shares or 0.76% of their US portfolio. The New York-based Bancshares Of Ny Mellon Corp has invested 0% in Kaman Corporation (NYSE:KAMN).

Insider Transactions: Since May 26, 2016, the stock had 2 insider purchases, and 2 insider sales for $427,288 net activity. On Monday, August 15 Steiner Gregory L. sold $176,636 worth of the stock or 4,005 shares. Tedone John J sold $423,214 worth of stock or 9,442 shares. $358,572 worth of shares were sold by GOODRICH PHILIP A on Thursday, May 26. On Tuesday, November 1 Keating Neal J bought $87,272 worth of the stock or 2,000 shares.

More news for Kaman Corporation (NYSE:KAMN) were recently published by: Businesswire.com, which released: “Kaman Corporation Announces Release Date for Third Quarter 2016 Earnings” on October 11, 2016. Seekingalpha.com‘s article titled: “Kaman Corporation’s (KAMN) CEO Neal Keating on Q3 2016 Results – Earnings Call …” and published on October 29, 2016 is yet another important article.

KAMN Company Profile

Kaman Corporation, incorporated on December 13, 1945, conducts business in the aerospace and distribution markets. The Firm operates through two divisions: Distribution and Aerospace. The Company’s brands include KAflex, KAron and K-MAX. The Firm produces the wing control surfaces (inboard and outboard flaps, slats and deceleron assemblies) for the United States Air Force’s (USAF’s) A-10 fleet. The Company’s bearings products are included on various military platforms manufactured in North America, Asia and Europe. These products are used as original equipment or specified as replacement parts by the manufacturers. These products are self-lubricating, ball and roller bearings for aircraft flight controls, turbine engines, landing gear and helicopter driveline couplings. The Company’s bearings offerings include super precision miniature ball bearings used in aerospace applications, dental products, surgical power tools, analytical devices and various industrial applications.

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