Citigroup Forecasts Strong Price Appreciation for Karman (NYSE:KRMN) Stock

Karman (NYSE:KRMN) had its price objective boosted by equities researchers at Citigroup from $46.50 to $58.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price would suggest a potential upside of 22.73% from the company’s current price.

Several other brokerages have also issued reports on KRMN. Robert W. Baird raised their target price on Karman from $40.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, May 14th. Evercore ISI assumed coverage on shares of Karman in a research report on Monday, March 10th. They issued an “outperform” rating and a $38.00 price objective on the stock. William Blair began coverage on shares of Karman in a research report on Monday, March 10th. They set an “outperform” rating for the company. Royal Bank of Canada raised their price target on shares of Karman from $38.00 to $44.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 14th. Finally, Baird R W upgraded Karman to a “strong-buy” rating in a research note on Monday, March 10th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $47.50.

Karman Stock Performance

NYSE:KRMN traded up $0.81 on Monday, hitting $47.26. The stock had a trading volume of 372,841 shares, compared to its average volume of 886,530. Karman has a 52 week low of $25.02 and a 52 week high of $47.55. The company’s fifty day moving average price is $37.65.

Karman (NYSE:KRMN) last issued its quarterly earnings data on Tuesday, May 13th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.02 by $0.03. The company had revenue of $100.12 million during the quarter, compared to analysts’ expectations of $95.40 million. Karman’s revenue was up 20.6% compared to the same quarter last year.

Hedge Funds Weigh In On Karman

A number of large investors have recently made changes to their positions in KRMN. SBI Securities Co. Ltd. bought a new position in shares of Karman in the first quarter worth $107,000. US Bancorp DE bought a new position in shares of Karman in the first quarter worth $124,000. Hollencrest Capital Management bought a new position in shares of Karman in the first quarter worth $155,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Karman in the first quarter worth $170,000. Finally, Phoenix Financial Ltd. bought a new position in shares of Karman in the first quarter worth $435,000.

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.