Royal Bank Of Canada Cuts Karman (NYSE:KRMN) Price Target to $85.00

Karman (NYSE:KRMN) had its price target decreased by Royal Bank Of Canada from $93.00 to $85.00 in a report released on Friday morning,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the stock.

A number of other analysts have also commented on KRMN. Raymond James Financial started coverage on shares of Karman in a research report on Friday, September 5th. They issued a “strong-buy” rating and a $100.00 price objective on the stock. Evercore ISI boosted their price target on shares of Karman from $58.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday, September 29th. Truist Financial assumed coverage on shares of Karman in a research report on Friday, October 10th. They set a “buy” rating and a $89.00 price target on the stock. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Karman in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Karman presently has a consensus rating of “Buy” and an average price target of $76.17.

Karman Price Performance

KRMN traded up $1.40 during midday trading on Friday, hitting $72.08. The company had a trading volume of 566,135 shares, compared to its average volume of 1,276,558. The firm’s 50-day simple moving average is $72.03 and its 200-day simple moving average is $55.52. Karman has a twelve month low of $25.02 and a twelve month high of $88.82. 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 company has a market capitalization of $9.54 billion and a PE ratio of 480.81.

Karman (NYSE:KRMN) last released its earnings results on Friday, November 7th. The company reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. The company had revenue of $121.79 million during the quarter. The company’s revenue for the quarter was up 41.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.04 earnings per share.

Hedge Funds Weigh In On Karman

Large investors have recently bought and sold shares of the company. Lexington Partners L.P. acquired a new stake in Karman during the 3rd quarter worth approximately $319,861,000. Donaldson Capital Management LLC acquired a new stake in Karman in the third quarter valued at $252,803,000. Vanguard Group Inc. raised its position in Karman by 99.0% during the 3rd quarter. Vanguard Group Inc. now owns 3,720,674 shares of the company’s stock worth $268,633,000 after purchasing an additional 1,851,394 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new stake in shares of Karman in the 1st quarter valued at about $58,799,000. Finally, Invesco Ltd. acquired a new stake in shares of Karman in the first quarter valued at about $50,220,000.

Karman Company Profile

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.