Karman (NYSE:KRMN) Shares Up 8.3% – Time to Buy?

Karman Holdings Inc. (NYSE:KRMN)’s stock price rose 8.3% on Thursday. The stock traded as high as $32.28 and last traded at $32.6480. Approximately 1,089,451 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 2,798,533 shares. The stock had previously closed at $30.14.

Analysts Set New Price Targets

A number of equities analysts have issued reports on KRMN shares. Citigroup raised their target price on Karman from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Guggenheim initiated coverage on Karman in a research report on Monday, September 14th. They set a “buy” rating and a $63.00 target price for the company. BWS Financial reaffirmed a “sell” rating and issued a $37.00 price target on shares of Karman in a research note on Monday, August 10th. Needham & Company LLC lowered their price target on Karman from $125.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Finally, Weiss Ratings upgraded shares of Karman from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Karman currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.33.

Karman Trading Up 10.2%

The company’s fifty day simple moving average is $42.26 and its two-hundred day simple moving average is $54.38. The company has a market capitalization of $4.40 billion, a price-to-earnings ratio of 114.59 and a beta of 0.64. 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 (NYSE:KRMN) last announced its quarterly earnings results 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. Karman had a net margin of 6.31% and a return on equity of 15.54%. The company had revenue of $182.06 million during the quarter. During the same period last year, the firm earned $0.10 EPS. Karman’s quarterly revenue was up 58.2% on a year-over-year basis. Research analysts forecast that Karman Holdings Inc. will post 0.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Karman news, Director David Stinnett bought 27,000 shares of Karman stock in a transaction on Wednesday, September 16th. The shares were purchased at an average cost of $37.32 per share, for a total transaction of $1,007,640.00. Following the completion of the acquisition, the director owned 3,530,395 shares in the company, valued at approximately $131,754,341.40. The trade was a 0.77% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 5.77% of the company’s stock.

Institutional Investors Weigh In On Karman

Large investors have recently modified their holdings of the business. Parkside Financial Bank & Trust raised its position in shares of Karman by 3,471.4% during the second quarter. Parkside Financial Bank & Trust now owns 500 shares of the company’s stock worth $25,000 after purchasing an additional 486 shares during the period. CX Institutional acquired a new position in shares of Karman in the 2nd quarter valued at approximately $28,000. Tsfg LLC acquired a new position in shares of Karman in the 2nd quarter valued at approximately $30,000. Wilkerson Advisory Group LLC acquired a new position in shares of Karman in the 1st quarter valued at approximately $77,000. Finally, Hilltop National Bank raised its holdings in Karman by 87.8% during the 2nd quarter. Hilltop National Bank now owns 1,258 shares of the company’s stock worth $63,000 after buying an additional 588 shares during the period.

About Karman

Karman (NYSE: KRMN), through its subsidiaries, provides engineered components and manufacturing services for the aerospace and defense industries. The company focuses on mission-critical products used in space launch vehicles, missile systems, hypersonic platforms and other high-performance aerospace applications.

Its capabilities include the design and production of composite and metallic structures, precision-machined components, complex assemblies, thermal protection products and other specialized hardware.