Kaman Seals New K-Max Aircraft Order From Precision Lift
Zacks Investment Research | Dec 06, 2018 09:55PM ET
Kaman Corporation’s (NYSE:KAMN) business arm, Kaman Aerosystems lately clinched the third order for its premium K-MAX helicopter in the current quarter. The recent order for this state-of-the-art medium-to-heavy lift aircraft is placed by Baker City, OR-based elevator manufacturer, Precision Lift, LLC.
Inside the Headlines
K-MAX is Kaman’s premium single-seat, single-engine and low-maintenance helicopter. The aircraft is optimized for different external load operations, including specialized features like counter-rotating rotor system, and designed especially for vertical reference flight. Notably, the aircraft can lift weight up to 6,000 pounds. So far, K-Max has significantly aided Kaman in expanding the fleet size and lifting capability of many operations across the globe. On grounds of growing popularity, the company recently approved the Lot II and Lot III production plans for this aircraft.
The aforementioned deal marks the second K-Max order placed by Precision Lift in the past 12 months. Notably, the reliability and versatility of its first K-MAX helicopter remarkably aided Precision Lift in improving its operational efficacy and significantly strengthening the existing Air Tractor AT-802 aircraft fleet. The company perceives the latest K-Max airplane to expand the current portfolio of its firefighting assets.
The aforementioned Precision Lift order is the third K-Max order secured by Kaman during this quarter. Prior to this, on Nov 28, 2018, the company sealed two orders for K-MAX helicopters from both Mountain Blade Runner Helicopters and St. Louis Helicopter LLC.
Zacks Rank and Price Performance
Kaman currently carries a Zacks Rank #3 (Hold). The company is poised to grow on the back of strength in Distribution segment’s business, mergers & acquisitions, deleveraging initiatives, along with new contract wins. Nonetheless, weakening Aerospace segment remains a cause of concern. Moreover, over the past month, the stock has lost 9.4%, wider than 3.9% decline of the Original post
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