Karman (NYSE:KRMN) Upgraded at Guggenheim

Guggenheim upgraded shares of Karman (NYSE:KRMN) to a strong-buy rating in a research note issued to investors on Monday,Zacks reports.

Other research analysts also recently issued reports about the company. Citigroup boosted their target price on Karman from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Piper Sandler reissued an “overweight” rating and issued a $91.00 price target (down from $114.00) on shares of Karman in a report on Friday, August 7th. KeyCorp dropped their price target on Karman from $122.00 to $100.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 20th. Needham & Company LLC cut their price objective on shares of Karman from $125.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Finally, Royal Bank Of Canada decreased their price objective on shares of Karman from $100.00 to $85.00 and set an “outperform” rating for the company in a research report on Friday, July 24th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $89.45.

Karman Price Performance

Shares of KRMN opened at $37.03 on Monday. The company has a 50 day moving average of $48.41 and a two-hundred day moving average of $63.70. The company has a quick ratio of 3.40, a current ratio of 3.56 and a debt-to-equity ratio of 2.01. Karman has a twelve month low of $33.99 and a twelve month high of $118.38. The company has a market cap of $4.91 billion, a price-to-earnings ratio of 127.69 and a beta of 0.47.

Karman (NYSE:KRMN) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. Karman had a return on equity of 15.54% and a net margin of 6.31%.The business had revenue of $182.06 million for the quarter. During the same period in the previous year, the company posted $0.10 earnings per share. The business’s revenue for the quarter was up 58.2% on a year-over-year basis. As a group, analysts predict that Karman will post 0.59 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. HBK Investments L P purchased a new position in shares of Karman in the second quarter worth about $998,000. Tidal Investments LLC boosted its position in Karman by 78.1% in the second quarter. Tidal Investments LLC now owns 29,199 shares of the company’s stock valued at $1,458,000 after buying an additional 12,807 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in Karman in the second quarter valued at approximately $470,000. NewEdge Advisors LLC increased its holdings in Karman by 163.3% in the 2nd quarter. NewEdge Advisors LLC now owns 3,112 shares of the company’s stock worth $155,000 after buying an additional 1,930 shares during the period. Finally, Arizona State Retirement System raised its position in Karman by 13.2% during the 2nd quarter. Arizona State Retirement System now owns 16,456 shares of the company’s stock worth $821,000 after buying an additional 1,915 shares during the last quarter.

Karman Company Profile

Karman is an aerospace and defense company that develops and manufactures mission-critical components, structures and systems for space and defense applications. Its offerings support launch vehicles, satellites, hypersonic systems and other advanced aerospace platforms.

The company provides capabilities across engineered metallic and composite structures, precision components, propulsion-related products and other specialized assemblies. Karman serves government and commercial aerospace customers involved in space launch, national security and defense programs.

Operating through a portfolio of aerospace and defense businesses, Karman combines design, engineering and manufacturing capabilities for complex, high-performance applications.