Norges Bank Makes New Investment in Karman Holdings Inc. $KRMN

Norges Bank bought a new position in Karman Holdings Inc. (NYSE:KRMN) in the 4th quarter, HoldingsChannel reports. The fund bought 315,934 shares of the company’s stock, valued at approximately $23,117,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AustralianSuper Pty Ltd bought a new position in Karman in the 4th quarter worth about $33,679,000. UBS Group AG lifted its stake in shares of Karman by 103.7% in the 4th quarter. UBS Group AG now owns 926,976 shares of the company’s stock worth $67,827,000 after acquiring an additional 471,894 shares during the period. Congress Asset Management Co. acquired a new stake in shares of Karman in the 4th quarter worth approximately $24,212,000. Aubrey Capital Management Ltd acquired a new stake in shares of Karman in the 4th quarter worth approximately $3,687,000. Finally, TimesSquare Capital Management LLC lifted its stake in shares of Karman by 361.7% in the 3rd quarter. TimesSquare Capital Management LLC now owns 1,546,905 shares of the company’s stock worth $111,687,000 after acquiring an additional 1,211,845 shares during the period.

Karman Stock Performance

Shares of KRMN opened at $48.23 on Wednesday. The company’s fifty day moving average is $70.14 and its 200-day moving average is $81.45. Karman Holdings Inc. has a 12 month low of $43.49 and a 12 month high of $118.38. The firm has a market cap of $6.39 billion, a price-to-earnings ratio of 209.70 and a beta of 0.32. The company has a quick ratio of 3.38, a current ratio of 3.53 and a debt-to-equity ratio of 2.08.

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $100.00 price target on shares of Karman in a research note on Tuesday, June 2nd. Weiss Ratings raised shares of Karman from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. KeyCorp reduced their price target on shares of Karman from $122.00 to $100.00 and set an “overweight” rating for the company in a research note on Wednesday, May 20th. Robert W. Baird upped their price target on shares of Karman from $115.00 to $135.00 and gave the stock an “outperform” rating in a research note on Friday, March 20th. Finally, Needham & Company LLC reissued a “buy” rating and set a $125.00 target price on shares of Karman in a research note on Thursday, April 9th. Two investment 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 given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $105.60.

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.