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

Karman (NYSE:KRMN) had its target price decreased by Royal Bank Of Canada from $100.00 to $85.00 in a research report released on Friday morning, MarketBeat Ratings reports. Royal Bank Of Canada currently has an outperform rating on the stock.

KRMN has been the topic of several other research reports. Needham & Company LLC restated a “buy” rating and set a $125.00 price objective on shares of Karman in a report on Thursday, April 9th. BWS Financial reiterated a “sell” rating and issued a $37.00 target price on shares of Karman in a research note on Monday, May 18th. Weiss Ratings downgraded shares of Karman from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, June 29th. Piper Sandler cut their price target on shares of Karman from $127.00 to $114.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 19th. Finally, Citigroup decreased their price target on shares of Karman from $97.00 to $76.00 and set a “buy” rating for the company in a report on Wednesday, July 1st. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Karman has an average rating of “Moderate Buy” and a consensus target price of $102.00.

Karman Trading Up 0.7%

Shares of NYSE:KRMN opened at $47.76 on Friday. The business’s 50-day moving average is $52.30 and its 200 day moving average is $76.58. Karman has a 1 year low of $43.68 and a 1 year high of $118.38. The firm has a market capitalization of $6.33 billion, a P/E ratio of 207.66 and a beta of 0.51. The company has a debt-to-equity ratio of 2.08, a current ratio of 3.53 and a quick ratio of 3.38.

Karman (NYSE:KRMN) last released its quarterly earnings results on Tuesday, May 12th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.03. The company had revenue of $151.21 million during the quarter, compared to analysts’ expectations of $150.19 million. Karman had a return on equity of 14.94% and a net margin of 5.73%.The firm’s revenue was up 51.0% compared to the same quarter last year. During the same period last year, the business posted $0.05 earnings per share. On average, research analysts predict that Karman will post 0.58 earnings per share for the current fiscal year.

Institutional Trading of Karman

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Karman by 151.1% during the 4th quarter. Vanguard Group Inc. now owns 9,342,230 shares of the company’s stock worth $683,571,000 after purchasing an additional 5,621,556 shares during the period. Falcon Wealth Planning purchased a new position in shares of Karman during the 1st quarter valued at about $205,684,000. Schusterman Interests LLC acquired a new position in shares of Karman in the 3rd quarter valued at about $148,024,000. Trustees of the University of Pennsylvania acquired a new position in shares of Karman in the 4th quarter valued at about $142,869,000. Finally, Van ECK Associates Corp boosted its stake in shares of Karman by 125.3% in the fourth quarter. Van ECK Associates Corp now owns 2,867,379 shares of the company’s stock worth $209,806,000 after buying an additional 1,594,518 shares during the last quarter.

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.