Karman (NYSE:KRMN) Hits New 12-Month High – Still a Buy?

Karman Holdings Inc. (NYSE:KRMN) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $117.72 and last traded at $111.5760, with a volume of 17313 shares traded. The stock had previously closed at $104.79.

Wall Street Analysts Forecast Growth

KRMN has been the topic of a number of analyst reports. Royal Bank Of Canada restated an “outperform” rating and issued a $125.00 price target on shares of Karman in a research note on Thursday. Evercore ISI reissued an “outperform” rating and set a $125.00 price target (up from $110.00) on shares of Karman in a report on Thursday. Raymond James Financial reiterated a “strong-buy” rating and issued a $130.00 price objective on shares of Karman in a research note on Thursday. Truist Financial set a $118.00 target price on shares of Karman in a research report on Friday, January 9th. Finally, KeyCorp started coverage on Karman in a research note on Thursday, December 18th. They set an “overweight” rating and a $80.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $98.44.

Karman Trading Up 6.0%

The company has a debt-to-equity ratio of 1.27, a quick ratio of 2.69 and a current ratio of 2.86. The firm has a market cap of $14.70 billion and a price-to-earnings ratio of 449.24. The business’s 50 day moving average price is $77.14 and its 200-day moving average price is $67.82.

Karman (NYSE:KRMN) last announced its quarterly earnings results on Friday, November 7th. The company reported $0.10 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.10. The business had revenue of $121.79 million for the quarter. Karman had a return on equity of 11.11% and a net margin of 2.65%.The firm’s revenue for the quarter was up 41.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.04 earnings per share.

Insider Buying and Selling

In related news, insider Stephanie Sawhill sold 62,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $63.93, for a total transaction of $3,963,660.00. Following the completion of the sale, the insider directly owned 504,939 shares in the company, valued at approximately $32,280,750.27. This trade represents a 10.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Michael Willis sold 115,000 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $58.63, for a total value of $6,742,450.00. Following the completion of the transaction, the chief financial officer owned 859,709 shares in the company, valued at $50,404,738.67. This trade represents a 11.80% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 251,000 shares of company stock worth $15,419,170.

Institutional Investors Weigh In On Karman

A number of hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in Karman by 83.7% in the 4th quarter. GAMMA Investing LLC now owns 373 shares of the company’s stock valued at $27,000 after purchasing an additional 170 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new stake in shares of Karman in the 3rd quarter worth about $29,000. Farther Finance Advisors LLC boosted its holdings in shares of Karman by 56.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock worth $33,000 after acquiring an additional 164 shares in the last quarter. Wexford Capital LP bought a new stake in shares of Karman during the third quarter worth $41,000. Finally, Hilltop National Bank bought a new position in shares of Karman in the fourth quarter worth about $42,000.

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.