Citigroup Reiterates “Buy” Rating for Karman (NYSE:KRMN)

Citigroup reaffirmed their buy rating on shares of Karman (NYSE:KRMN) in a research report sent to investors on Monday, Marketbeat Ratings reports. The brokerage currently has a $58.00 price objective on the stock, up from their previous price objective of $46.50.

Other analysts also recently issued reports about the stock. Royal Bank of Canada raised their target price on shares of Karman from $38.00 to $44.00 and gave the stock an “outperform” rating in a report on Wednesday, May 14th. Evercore ISI started coverage on shares of Karman in a research report on Monday, March 10th. They issued an “outperform” rating and a $38.00 price objective for the company. William Blair started coverage on shares of Karman in a research report on Monday, March 10th. They set an “outperform” rating for the company. Baird R W raised shares of Karman to a “strong-buy” rating in a research report on Monday, March 10th. Finally, Robert W. Baird lifted their target price on Karman from $40.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, May 14th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Karman presently has a consensus rating of “Buy” and a consensus price target of $47.50.

Karman Stock Performance

Shares of NYSE:KRMN opened at $46.02 on Monday. Karman has a 12 month low of $25.02 and a 12 month high of $47.55. The stock’s 50-day moving average is $38.48.

Karman (NYSE:KRMN) last announced its quarterly earnings results on Tuesday, May 13th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. The firm had revenue of $100.12 million during the quarter, compared to analyst estimates of $95.40 million. The company’s revenue for the quarter was up 20.6% on a year-over-year basis.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. bought a new stake in shares of Karman during the first quarter worth about $61,024,000. Price T Rowe Associates Inc. MD bought a new position in shares of Karman during the 1st quarter worth approximately $58,799,000. Invesco Ltd. acquired a new position in shares of Karman during the first quarter worth approximately $50,220,000. T. Rowe Price Investment Management Inc. acquired a new position in shares of Karman during the first quarter worth approximately $48,691,000. Finally, Alliancebernstein L.P. purchased a new stake in Karman in the 1st quarter valued at $37,182,000.

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.