Karman (NYSE:KRMN) Trading Down 4.2% – What’s Next?
by Scott Moore · The Cerbat GemKarman Holdings Inc. (NYSE:KRMN – Get Free Report) fell 4.2% on Tuesday . The stock traded as low as $74.31 and last traded at $74.3250. 149,095 shares traded hands during trading, a decline of 89% from the average session volume of 1,354,917 shares. The stock had previously closed at $77.57.
Analysts Set New Price Targets
A number of research analysts recently weighed in on the company. Truist Financial started coverage on Karman in a research note on Friday, October 10th. They set a “buy” rating and a $89.00 price target on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Karman in a research report on Monday, December 22nd. Raymond James Financial began 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 for the company. Royal Bank Of Canada dropped their price objective on shares of Karman from $93.00 to $85.00 and set an “outperform” rating on the stock in a research note on Friday, November 7th. Finally, Citigroup assumed coverage on shares of Karman in a research report on Thursday, December 11th. They set a “buy” rating and a $84.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $80.43.
Read Our Latest Stock Report on KRMN
Karman Stock Performance
The company’s 50 day moving average price is $71.59 and its 200-day moving average price is $62.14. The stock has a market cap of $10.01 billion and a P/E ratio of 302.28. The company has a debt-to-equity ratio of 1.27, a quick ratio of 2.69 and a current ratio of 2.86.
Karman (NYSE:KRMN – Get Free Report) last released its quarterly earnings results on Friday, November 7th. The company reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. The business had revenue of $121.79 million for the quarter. Karman had a net margin of 2.65% and a return on equity of 11.11%. The firm’s revenue for the quarter was up 41.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.04 earnings per share.
Insider Activity at Karman
In other Karman news, insider Stephanie Sawhill sold 62,000 shares of the business’s stock in a transaction on 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 transaction, the insider owned 504,939 shares of the company’s stock, valued at approximately $32,280,750.27. The trade was a 10.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jonathan Beaudoin sold 74,000 shares of the firm’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $63.69, for a total value of $4,713,060.00. Following the sale, the chief operating officer directly owned 666,861 shares of the company’s stock, valued at approximately $42,472,377.09. This represents a 9.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 251,000 shares of company stock valued at $15,419,170.
Institutional Investors Weigh In On Karman
Several institutional investors have recently added to or reduced their stakes in KRMN. Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new stake in shares of Karman in the third quarter valued at approximately $29,000. Farther Finance Advisors LLC raised its holdings in Karman by 56.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock valued at $33,000 after acquiring an additional 164 shares during the period. Wexford Capital LP purchased a new stake in shares of Karman during the third quarter worth $41,000. Global Retirement Partners LLC boosted its holdings in shares of Karman by 5,718.2% in the third quarter. Global Retirement Partners LLC now owns 640 shares of the company’s stock worth $46,000 after acquiring an additional 629 shares during the period. Finally, Global Trust Asset Management LLC purchased a new position in shares of Karman in the second quarter valued at $50,000.
About Karman
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. We estimate that no single program accounted for more than 10% of sales for the nine months ended September 30, 2024 or the twelve months ended December 31, 2023, with revenue from over 100 active programs supporting current production and next-generation space, missile, hypersonic, and defense applications.