Karman (NYSE:KRMN) Sets New 12-Month High – Here’s Why

Karman Holdings Inc. (NYSE:KRMN)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $79.25 and last traded at $79.04, with a volume of 1006925 shares traded. The stock had previously closed at $74.71.

Analyst Upgrades and Downgrades

KRMN has been the subject of several research analyst reports. Raymond James Financial initiated coverage on shares of Karman in a research note on Friday, September 5th. They set a “strong-buy” rating and a $100.00 price target for the company. Truist Financial initiated coverage on shares of Karman in a research note on Friday, October 10th. They set a “buy” rating and a $89.00 price target for the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Karman in a research note on Wednesday, October 8th. Evercore ISI lifted their price target on shares of Karman from $58.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday, September 29th. Finally, Royal Bank Of Canada lifted their price target on shares of Karman from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Karman currently has an average rating of “Buy” and an average price target of $71.50.

Karman Stock Performance

The company has a debt-to-equity ratio of 1.30, a quick ratio of 2.58 and a current ratio of 2.75. The stock’s 50 day moving average price is $61.95 and its 200-day moving average price is $49.29.

Karman (NYSE:KRMN) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). The firm had revenue of $115.10 million for the quarter. The business’s quarterly revenue was up 35.3% on a year-over-year basis. Karman has set its FY 2025 guidance at EPS.

Insider Buying and Selling at Karman

In other Karman news, CFO Michael Willis sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $49.00, for a total value of $4,900,000.00. Following the completion of the sale, the chief financial officer directly owned 974,709 shares in the company, valued at $47,760,741. This trade represents a 9.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jonathan Beaudoin sold 80,000 shares of Karman stock in a transaction on Friday, July 25th. The stock was sold at an average price of $49.00, for a total transaction of $3,920,000.00. Following the completion of the transaction, the chief operating officer directly owned 740,861 shares in the company, valued at $36,302,189. This represents a 9.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,865,968 shares of company stock valued at $1,169,432,432 in the last ninety days.

Hedge Funds Weigh In On Karman

Institutional investors and hedge funds have recently bought and sold shares of the company. Baird Financial Group Inc. purchased a new position in Karman in the first quarter worth $1,632,000. Stephens Investment Management Group LLC purchased a new position in Karman in the 1st quarter worth $8,740,000. Sapient Capital LLC purchased a new position in Karman in the 2nd quarter worth $615,000. Woodline Partners LP purchased a new position in Karman in the 1st quarter worth $5,700,000. Finally, Charles Schwab Investment Management Inc. purchased a new position in Karman in the 1st quarter worth $4,293,000.

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.