Piper Sandler Issues Pessimistic Forecast for Karman (NYSE:KRMN) Stock Price

Karman (NYSE:KRMN) had its target price dropped by equities research analysts at Piper Sandler from $127.00 to $114.00 in a research note issued on Tuesday, MarketBeat.com reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s target price would suggest a potential upside of 71.84% from the company’s current price.

A number of other equities research analysts have also recently weighed in on KRMN. KeyCorp upped their price objective on shares of Karman from $80.00 to $122.00 and gave the stock an “overweight” rating in a report on Wednesday, January 28th. Weiss Ratings raised Karman from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Robert W. Baird raised their price objective on Karman from $115.00 to $135.00 and gave the company an “outperform” rating in a research report on Friday, March 20th. Royal Bank Of Canada lifted their price objective on Karman from $85.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, January 22nd. Finally, Citigroup cut their target price on Karman from $127.00 to $97.00 and set a “buy” rating on the stock in a research note on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.30.

Karman Price Performance

Shares of KRMN stock opened at $66.34 on Tuesday. The business’s fifty day moving average is $83.56 and its 200 day moving average is $83.07. The company has a quick ratio of 3.38, a current ratio of 3.53 and a debt-to-equity ratio of 2.08. The stock has a market cap of $8.79 billion, a price-to-earnings ratio of 288.45 and a beta of 0.68. Karman has a twelve month low of $41.29 and a twelve month high of $118.38.

Karman (NYSE:KRMN) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.08 by $0.03. The business had revenue of $151.21 million during the quarter, compared to analyst estimates of $150.19 million. Karman had a return on equity of 14.94% and a net margin of 5.73%.The company’s revenue for the quarter was up 51.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.05 earnings per share. Research analysts expect that Karman will post 0.59 EPS for the current fiscal year.

Institutional Investors Weigh In On Karman

A number of hedge funds have recently bought and sold shares of KRMN. Vanguard Group Inc. grew its stake in shares of Karman by 151.1% in the 4th quarter. Vanguard Group Inc. now owns 9,342,230 shares of the company’s stock worth $683,571,000 after buying an additional 5,621,556 shares in the last quarter. Lexington Partners L.P. bought a new position in shares of Karman in the 3rd quarter valued at about $319,861,000. Invesco Ltd. lifted its holdings in shares of Karman by 27.3% in the 4th quarter. Invesco Ltd. now owns 4,088,649 shares of the company’s stock valued at $299,166,000 after acquiring an additional 877,462 shares during the last quarter. Donaldson Capital Management LLC purchased a new position in Karman in the third quarter worth about $252,803,000. Finally, State Street Corp increased its stake in Karman by 35.0% during the fourth quarter. State Street Corp now owns 3,326,430 shares of the company’s stock worth $243,395,000 after acquiring an additional 862,089 shares during the last quarter.

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. 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.