Karman (NYSE:KRMN) Trading Up 8.7% – Here’s What Happened

by · The Cerbat Gem

Karman Holdings Inc. (NYSE:KRMN – Get Free Report) traded up 8.7% during trading on Thursday . The stock traded as high as $69.72 and last traded at $70.5750. 194,078 shares were traded during trading, a decline of 85% from the average session volume of 1,320,493 shares. The stock had previously closed at $64.94.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on KRMN shares. Citigroup assumed coverage on shares of Karman in a research note on Thursday, December 11th. They issued a “buy” rating and a $84.00 price objective on the stock. Royal Bank Of Canada reduced their target price on shares of Karman from $93.00 to $85.00 and set an “outperform” rating for the company in a report on Friday, November 7th. Raymond James Financial initiated coverage on shares of Karman in a research report on Friday, September 5th. They issued a “strong-buy” rating and a $100.00 price target on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Karman in a research report on Monday. Finally, Evercore ISI raised their target price on Karman from $58.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday, September 29th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $80.50.

View Our Latest Report on Karman

Karman Stock Performance

The company has a market cap of $9.08 billion and a P/E ratio of 274.31. The business’s 50 day simple moving average is $71.50 and its 200 day simple moving average is $60.25. The company has a current ratio of 2.86, a quick ratio of 2.69 and a debt-to-equity ratio of 1.27.

Karman (NYSE:KRMN – Get Free Report) last announced its quarterly earnings data on Friday, November 7th. The company reported $0.10 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.10. The firm had revenue of $121.79 million during the quarter. Karman had a net margin of 2.65% and a return on equity of 11.11%. The business’s revenue for the quarter was up 41.7% on a year-over-year basis. During the same period last year, the company earned $0.04 earnings per share.

Insider Activity

In other news, insider Stephanie Sawhill sold 62,000 shares of the company’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $63.93, for a total value of $3,963,660.00. Following the completion of the transaction, the insider owned 504,939 shares of the company’s stock, valued at $32,280,750.27. This represents a 10.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Michael Willis sold 115,000 shares of the stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $58.63, for a total value of $6,742,450.00. Following the sale, the chief financial officer owned 859,709 shares of the company’s stock, valued at $50,404,738.67. This represents a 11.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 251,000 shares of company stock worth $15,419,170 over the last ninety days.

Hedge Funds Weigh In On Karman

Hedge funds have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB bought a new position in shares of Karman during the third quarter worth $101,000. NewEdge Advisors LLC purchased a new stake in Karman in the 3rd quarter worth $127,000. Alyeska Investment Group L.P. boosted its holdings in shares of Karman by 285.7% during the 3rd quarter. Alyeska Investment Group L.P. now owns 192,841 shares of the company’s stock valued at $13,923,000 after purchasing an additional 142,841 shares during the last quarter. Voleon Capital Management LP purchased a new position in shares of Karman during the third quarter valued at about $312,000. Finally, Voloridge Investment Management LLC bought a new stake in shares of Karman in the third quarter worth about $10,717,000.

About Karman

(Get Free Report)

We specialize in the upfront design, testing, manufacturing, and sale of mission-critical systems for existing and emerging missile and defense, and space programs. Our integrated payload protection, propulsion, and interstage system solutions are deployed across a wide variety of existing and emerging programs supporting important Department of Defense (“DoD”) and space sector initiatives.

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