Kaman Corp.: Ground control to Major Profits
Stow your gear and lock those seatbacks to their upright position, Kaman Corp. (Nasdaq:KAMN) is prepared for takeoff.
After quietly rising to $1 billion in annual revenue, the 63-year-old Connecticut company’s stock is reflecting the infusion of a new management team, a reorganization to focus on its core aerospace and industrial distribution operations, and some key acquisitions.
Kaman’s shares hit an all-time high of $39.31 the day after Christmas. Then, after sinking to a 52-week low of $21.15 on July 7 on aerospace concerns, share prices started to climb, raising investors’ hopes that the stock will again challenge that year-end peak. Kaman closed Monday at $28.80.
Analysts who follow Kaman believe the stock is worth acquiring: three rate it a “strong buy,” and two have it as a “buy,” according to Thomson Reuters. The median price target is $36, reflecting a 20% upside potential. While down some 22% this year, over the past five years Kaman’s shares increased 108%.
Kaman operates in two arenas, industrial distribution and aerospace. Most of its operations are in the Americas, but the company does have a presence in Europe, Asia and Australia.
Kaman is a defense contractor, and its primary subsidiary is Kaman Aerospace. But industrial accounts for nearly two-thirds of its business, and is the . . .
After quietly rising to $1 billion in annual revenue, the 63-year-old Connecticut company’s stock is reflecting the infusion of a new management team, a reorganization to focus on its core aerospace and industrial distribution operations, and some key acquisitions.
Kaman’s shares hit an all-time high of $39.31 the day after Christmas. Then, after sinking to a 52-week low of $21.15 on July 7 on aerospace concerns, share prices started to climb, raising investors’ hopes that the stock will again challenge that year-end peak. Kaman closed Monday at $28.80.
Analysts who follow Kaman believe the stock is worth acquiring: three rate it a “strong buy,” and two have it as a “buy,” according to Thomson Reuters. The median price target is $36, reflecting a 20% upside potential. While down some 22% this year, over the past five years Kaman’s shares increased 108%.
Kaman operates in two arenas, industrial distribution and aerospace. Most of its operations are in the Americas, but the company does have a presence in Europe, Asia and Australia.
Kaman is a defense contractor, and its primary subsidiary is Kaman Aerospace. But industrial accounts for nearly two-thirds of its business, and is the . . .
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About the Author
Contributing author Paul Rolfes is assistant business editor at The Courier-Journal, the largest daily newspaper in Kentucky.