Kaman Gets Composite Assemblies Contract From Carestream

Kaman Corporation’s (NYSE:KAMN) business unit, Kaman Composites – Vermont, Inc. recently announced a deal with Carestream Health. The deal is related to the production of complex composite assemblies to support Carestream’s advanced DRX product line. As a matter of fact, this agreement will enable Kaman to expand its customer base in the medical imaging domain.

Based in Rochester, NY, Carestream Health is a leading global provider of medical imaging systems solutions, X-ray imaging systems and services for industrial, medical and electronic markets. The company’s proficiency lies in offering digital radiography and computed radiography systems with a solid track record of product innovation. Notably, it employs more than 6000 people throughout the world.

This latest deal with Carestream Health reflects Kaman’s strength in composites capabilities, required for catering to various requirements of the medical market. The production and delivery of all the composite detail parts and assemblies will take place from Kaman Composites-Vermont facility, located in Bennington, Vermont. Kaman expects deliveries to commence in 2020.

Kaman is well poised to gain from investments in organic growth initiatives, acquisitions, contract wins and disciplined capital deployment. Moreover, over the past six months, the Zacks Rank #1 (Strong Buy) company has gained 10.2%, outperforming the 6.6% growth of the industry it belongs to.

In addition, analysts have become increasingly bullish on Kaman. In the past couple of months, the Zacks Consensus Estimate for 2020 earnings has trended up 24.1% from $2.24 to $2.78.

Other Key Picks

Some other top-ranked stocks in the same space are Tennant Company (NYSE:TNC) , DXP Enterprises, Inc. (NASDAQ:DXPE) and Standex International Corporation (NYSE:SXI) . While Tennant sports a Zacks Rank #1, DXP Enterprises and Standex International carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Tennant surpassed estimates in each of the trailing four quarters, the average positive earnings surprise being 28.65%.

DXP Enterprises outpaced estimates thrice in the trailing four quarters, the average positive earnings surprise being 17.67%.

Standex International’s earnings surprise in the last reported quarter was 2.11%.

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