Karman (NYSE:KRMN) Shares Climb 8.3% – Should You Buy?

by · The Markets Daily

Karman Holdings Inc. (NYSE:KRMN – Get Free Report) was up 8.3% during mid-day trading on Thursday. The company traded as high as $32.28 and last traded at $32.6480. 1,089,451 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 2,798,533 shares. The stock had previously closed at $30.14.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on KRMN. Royal Bank Of Canada reduced their target price on shares of Karman from $85.00 to $70.00 and set an “outperform” rating for the company in a report on Monday, September 28th. Truist Financial lowered their price target on shares of Karman from $118.00 to $85.00 and set a “buy” rating on the stock in a research note on Thursday, August 13th. Guggenheim initiated coverage on shares of Karman in a research note on Monday, September 14th. They issued a “buy” rating and a $63.00 price target on the stock. Needham & Company LLC cut their price target on shares of Karman from $125.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. Finally, BWS Financial restated a “sell” rating and set a $37.00 price objective on shares of Karman in a research note on Monday, August 10th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Karman currently has a consensus rating of “Moderate Buy” and an average price target of $87.33.

Read Our Latest Report on Karman

Karman Price Performance

The stock has a market capitalization of $4.62 billion, a P/E ratio of 120.14 and a beta of 0.64. The company’s 50-day simple moving average is $41.36 and its 200-day simple moving average is $53.89. The company has a debt-to-equity ratio of 2.01, a current ratio of 3.56 and a quick ratio of 3.40.

Karman (NYSE:KRMN – Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The business had revenue of $182.06 million for the quarter. Karman had a net margin of 6.31% and a return on equity of 15.54%. The firm’s quarterly revenue was up 58.2% on a year-over-year basis. During the same quarter last year, the company posted $0.10 EPS. As a group, sell-side analysts expect that Karman Holdings Inc. will post 0.59 EPS for the current fiscal year.

Insider Buying and Selling at Karman

In other Karman news, Director David Stinnett acquired 27,000 shares of Karman stock in a transaction that occurred on Wednesday, September 16th. The shares were acquired at an average cost of $37.32 per share, with a total value of $1,007,640.00. Following the completion of the purchase, the director directly owned 3,530,395 shares of the company’s stock, valued at $131,754,341.40. This represents a 0.77% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.77% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Karman

Several institutional investors and hedge funds have recently added to or reduced their stakes in KRMN. Vontobel Holding Ltd. lifted its position in shares of Karman by 53.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 131,881 shares of the company’s stock worth $4,276,000 after purchasing an additional 45,847 shares during the period. State of Alaska Department of Revenue acquired a new position in Karman in the third quarter valued at approximately $865,000. Bouvel Investment Partners LLC bought a new position in shares of Karman during the 3rd quarter worth approximately $1,841,000. GK Wealth Management LLC bought a new position in shares of Karman during the 3rd quarter worth approximately $65,000. Finally, Legacy Wealth Asset Management LLC boosted its holdings in shares of Karman by 83.8% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 7,374 shares of the company’s stock worth $239,000 after buying an additional 3,361 shares in the last quarter.

About Karman

(Get Free Report)

Karman (NYSE: KRMN), through its subsidiaries, provides engineered components and manufacturing services for the aerospace and defense industries. The company focuses on mission-critical products used in space launch vehicles, missile systems, hypersonic platforms and other high-performance aerospace applications.

Its capabilities include the design and production of composite and metallic structures, precision-machined components, complex assemblies, thermal protection products and other specialized hardware.

Recommended Stories