Karman’s (KRMN) “Overweight” Rating Reaffirmed at Piper Sandler

Piper Sandler restated their overweight rating on shares of Karman (NYSE:KRMN) in a research note published on Friday,Benzinga reports. They currently have a $91.00 price objective on the stock, down from their previous price objective of $114.00.

KRMN has been the topic of several other reports. Citigroup dropped their target price on Karman from $97.00 to $76.00 and set a “buy” rating on the stock in a report on Wednesday, July 1st. KeyCorp dropped their price target on shares of Karman from $122.00 to $100.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 20th. Evercore set a $100.00 price objective on shares of Karman in a research note on Wednesday, May 13th. BWS Financial reaffirmed a “sell” rating and issued a $37.00 price objective on shares of Karman in a research report on Monday, May 18th. Finally, Weiss Ratings lowered Karman from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, June 29th. Two research 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $95.20.

Karman Price Performance

Shares of NYSE KRMN opened at $58.75 on Friday. Karman has a fifty-two week low of $43.68 and a fifty-two week high of $118.38. The company has a 50 day simple moving average of $49.86 and a two-hundred day simple moving average of $72.89. The company has a market capitalization of $7.79 billion, a price-to-earnings ratio of 202.59 and a beta of 0.56. The company has a debt-to-equity ratio of 2.01, a quick ratio of 3.40 and a current ratio of 3.56.

Karman (NYSE:KRMN) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The firm had revenue of $182.06 million for the quarter. Karman had a return on equity of 15.54% and a net margin of 6.31%.The business’s revenue for the quarter was up 58.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.10 earnings per share. Analysts expect that Karman will post 0.57 EPS for the current fiscal year.

Institutional Trading of Karman

Large investors have recently added to or reduced their stakes in the company. AustralianSuper Pty Ltd bought a new stake in Karman in the fourth quarter worth about $33,679,000. UBS Group AG increased its stake in Karman by 103.7% in the fourth quarter. UBS Group AG now owns 926,976 shares of the company’s stock worth $67,827,000 after purchasing an additional 471,894 shares during the period. Aubrey Capital Management Ltd purchased a new stake in Karman in the fourth quarter worth $3,687,000. Mass General Brigham Inc bought a new stake in shares of Karman during the fourth quarter worth $114,295,000. Finally, Vanguard Group Inc. grew its holdings in shares of Karman by 151.1% in the fourth 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 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.