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Kaman Subsidiary Increases Stake in Goa JV Stake Ownership
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Kaman Corporation’s subsidiary, Kaman Aerospace Group, Inc. (Kaman), recently strengthened ownership rights over its Indian joint venture (JV) – Kineco Kaman Composites India Pvt. Ltd. – by increasing stake to 49% from 26%. The move is in sync with the company’s strategic efforts to capture demand from the rapidly growing Indian aerospace market.
Kaman Corporation’s stock looks bearish at the moment. Over the last one month, shares of this Zacks Rank #5 (Strong Sell) stock recorded a loss of 6.88%, wider than the loss of 1.71% incurred by the Zacks classified Machinery-General Industrial market. However, the company is poised to grow on the back of new contract wins, greater operational efficacy and strategic business expansion in niche business hubs.
Inside the Headlines
Kineco Kaman Composites India Pvt. Ltd. is Kaman’s Goa-based JV with Kineco Limited (Kineco). Kineco Kaman Composites produces advanced complex structures for imaging/medical, aerospace and other industries for major clients such as Hindustan Aeronautics Limited, BAE Systems and Vikram Sarabhai Space Centre.
Notably, the JV is a ‘One Stop’ provider of seamless services such as tooling, designing, testing and certification. This business intends to undertake its prime expansion move over the next 12–18 months. Kaman noted that the first expansion move of the JV would be backed by a massive investment plan, which has already secured approval from the Goa Investment Promotion Board.
Kaman believes that its JV business with Kineco will significantly drive top- and bottom-line growth in the near term.
To Conclude
Dismal macroeconomic environment in certain major end markets has been affecting Kaman Corporation’s business. However, the company is poised to enhance near-term profitability on the back of its realignment and productivity maximization programs. Notably, the company anticipates that its JV with Kineco would soon be conducive to the revenue and margin growth trajectory in the quarters ahead.
Stocks that Warrant a Look
Some better-ranked stocks within the industry are listed below:
ARC Document Solutions, Inc. (ARC - Free Report) , a Zacks Rank #2 (Buy) stock, has a positive average earnings surprise of 45.83% for the trailing four quarters.
Avery Dennison Corporation (AVY - Free Report) also holds a Zacks Rank #2 and generated an average positive earnings surprise of 6.17% over the past four quarters.
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Kaman Subsidiary Increases Stake in Goa JV Stake Ownership
Kaman Corporation’s subsidiary, Kaman Aerospace Group, Inc. (Kaman), recently strengthened ownership rights over its Indian joint venture (JV) – Kineco Kaman Composites India Pvt. Ltd. – by increasing stake to 49% from 26%. The move is in sync with the company’s strategic efforts to capture demand from the rapidly growing Indian aerospace market.
Kaman Corporation’s stock looks bearish at the moment. Over the last one month, shares of this Zacks Rank #5 (Strong Sell) stock recorded a loss of 6.88%, wider than the loss of 1.71% incurred by the Zacks classified Machinery-General Industrial market. However, the company is poised to grow on the back of new contract wins, greater operational efficacy and strategic business expansion in niche business hubs.
Inside the Headlines
Kineco Kaman Composites India Pvt. Ltd. is Kaman’s Goa-based JV with Kineco Limited (Kineco). Kineco Kaman Composites produces advanced complex structures for imaging/medical, aerospace and other industries for major clients such as Hindustan Aeronautics Limited, BAE Systems and Vikram Sarabhai Space Centre.
Notably, the JV is a ‘One Stop’ provider of seamless services such as tooling, designing, testing and certification. This business intends to undertake its prime expansion move over the next 12–18 months. Kaman noted that the first expansion move of the JV would be backed by a massive investment plan, which has already secured approval from the Goa Investment Promotion Board.
Kaman believes that its JV business with Kineco will significantly drive top- and bottom-line growth in the near term.
To Conclude
Dismal macroeconomic environment in certain major end markets has been affecting Kaman Corporation’s business. However, the company is poised to enhance near-term profitability on the back of its realignment and productivity maximization programs. Notably, the company anticipates that its JV with Kineco would soon be conducive to the revenue and margin growth trajectory in the quarters ahead.
Stocks that Warrant a Look
Some better-ranked stocks within the industry are listed below:
ACCO Brands Corporation (ACCO - Free Report) has a positive average earnings surprise of 24.74% for the last four quarters and currently boasts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here
ARC Document Solutions, Inc. (ARC - Free Report) , a Zacks Rank #2 (Buy) stock, has a positive average earnings surprise of 45.83% for the trailing four quarters.
Avery Dennison Corporation (AVY - Free Report) also holds a Zacks Rank #2 and generated an average positive earnings surprise of 6.17% over the past four quarters.
Zacks’ Best Private Investment Ideas
In addition to the recommendations that are available to the public on our website, how would you like to follow all Zacks' private buys and sells in real time?
Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Starting today, for the next month, you can have unrestricted access. Click here for Zacks' private trades >>