Karman (NYSE:KRMN) Stock Price Target Cut by Royal Bank Of Canada

Karman (NYSE:KRMN) had its target price decreased by equities researchers at Royal Bank Of Canada from $85.00 to $70.00 in a report released on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price points to a potential upside of 113.36% from the stock’s current price.

KRMN has been the subject of a number of other reports. Truist Financial lowered their price target on Karman from $118.00 to $85.00 and set a “buy” rating for the company in a research report on Thursday, August 13th. BWS Financial reaffirmed a “sell” rating and set a $37.00 price target on shares of Karman in a research note on Monday, August 10th. Guggenheim assumed coverage on shares of Karman in a research report on Monday, September 14th. They issued a “buy” rating and a $63.00 price objective on the stock. Weiss Ratings lowered Karman from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, September 10th. Finally, Piper Sandler reiterated 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. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $88.09.

Karman Trading Down 2.6%

KRMN opened at $32.81 on Monday. The stock has a 50-day moving average of $46.11 and a 200 day moving average of $59.67. The company has a current ratio of 3.56, a quick ratio of 3.40 and a debt-to-equity ratio of 2.01. Karman has a 12 month low of $32.20 and a 12 month high of $118.38. The firm has a market cap of $4.35 billion, a P/E ratio of 113.13 and a beta of 0.47.

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

Insider Buying and Selling

In other Karman news, Director David Stinnett acquired 27,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 16th. The shares were bought at an average cost of $37.32 per share, with a total value of $1,007,640.00. Following the completion of the acquisition, the director directly owned 3,530,395 shares in the company, valued at $131,754,341.40. This represents a 0.77% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.77% of the company’s stock.

Hedge Funds Weigh In On Karman

Institutional investors and hedge funds have recently bought and sold shares of the company. First Trust Advisors LP boosted its position in shares of Karman by 3.3% in the 1st quarter. First Trust Advisors LP now owns 2,891,687 shares of the company’s stock worth $231,480,000 after purchasing an additional 93,565 shares in the last quarter. Van ECK Associates Corp raised its stake in Karman by 125.3% in the fourth quarter. Van ECK Associates Corp now owns 2,867,379 shares of the company’s stock valued at $209,806,000 after buying an additional 1,594,518 shares during the last quarter. Falcon Wealth Planning acquired a new stake in Karman in the first quarter worth about $205,684,000. Bank of New York Mellon Corp grew its stake in shares of Karman by 14.0% during the fourth quarter. Bank of New York Mellon Corp now owns 1,495,619 shares of the company’s stock worth $109,434,000 after acquiring an additional 184,099 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Karman by 17.8% during the fourth quarter. Geode Capital Management LLC now owns 1,156,163 shares of the company’s stock valued at $84,620,000 after acquiring an additional 174,561 shares in the last quarter.

Key Stories Impacting Karman

Here are the key news stories impacting Karman this week:

• Positive Sentiment: RBC Capital reiterated a Buy/Outperform view on Karman, indicating the firm still sees substantial long-term upside despite lowering its target. Karman Holdings Inc. Gets a Buy from RBC Capital
• Positive Sentiment: Director David Stinnett purchased 27,000 Karman shares for approximately $1 million. The insider buying may signal confidence that the recent selloff has created an attractive entry point. David Stinnett Purchases Karman Holdings Shares
• Positive Sentiment: Karman’s planned $94 million European acquisition would expand its international presence and could broaden its defense-program exposure, supporting future revenue growth. Karman Expands Into Europe With $94M Purchase
• Positive Sentiment: Brown Capital Management highlighted Karman’s proprietary technology as a driver of sustainable revenue growth, reinforcing the longer-term investment thesis. Karman Proprietary Technology and Revenue Growth
• Neutral Sentiment: RBC said Karman is taking steps to address bearish concerns ahead of a potential third-quarter “clearing event,” suggesting upcoming results or guidance may be important for the stock’s next direction. Karman Moves to Counter Bearish Concerns
• Negative Sentiment: RBC cut its Karman price target to $70 from $85 while maintaining an Outperform rating. The target reduction likely reflects more cautious assumptions and is weighing on sentiment, despite the firm’s continued bullish stance. RBC Cuts Karman Price Target

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.