Karman (NYSE:KRMN) Stock Gets Price Target Trim from Royal Bank Of Canada

Karman (NYSE:KRMN) had its price objective decreased by Royal Bank Of Canada from $70.00 to $60.00 in a research report sent to investors on Wednesday,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the stock.

A number of other equities research analysts also recently weighed in on KRMN. Piper Sandler lowered their target price on shares of Karman from $91.00 to $59.00 and set an “overweight” rating on the stock in a research note on Friday, October 23rd. UBS Group set a $40.00 price target on shares of Karman in a research note on Thursday, October 22nd. Weiss Ratings raised shares of Karman from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Truist Financial decreased their price target on shares of Karman from $118.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, August 13th. Finally, Barclays initiated coverage on shares of Karman in a research report on Friday, October 9th. They set an “overweight” rating and a $79.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Karman currently has an average rating of “Moderate Buy” and a consensus price target of $77.57.

Karman Price Performance

KRMN stock opened at $39.81 on Wednesday. The firm has a 50 day moving average of $37.11 and a 200-day moving average of $64.25. The firm has a market capitalization of $5.28 billion, a P/E ratio of 90.63 and a beta of 0.64. 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 $29.34 and a 12 month high of $118.38.

Karman (NYSE:KRMN) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.14 earnings per share for the quarter, topping 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 firm had revenue of $182.06 million for the quarter. During the same period in the previous year, the company posted $0.10 EPS. The company’s revenue for the quarter was up 58.2% compared to the same quarter last year. As a group, sell-side analysts predict that Karman will post 0.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Karman news, Director David Stinnett purchased 27,000 shares of the stock in a transaction on Wednesday, September 16th. The stock was acquired at an average cost of $37.32 per share, with a total value of $1,007,640.00. Following the completion of the purchase, the director directly owned 3,530,395 shares of the company’s stock, valued at approximately $131,754,341.40. This trade represents a 0.77% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.77% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. First Trust Advisors LP boosted its holdings in shares of Karman by 3.3% during the 1st quarter. First Trust Advisors LP now owns 2,891,687 shares of the company’s stock valued at $231,480,000 after buying an additional 93,565 shares in the last quarter. Congress Asset Management Co. grew its holdings in Karman by 23.8% in the third quarter. Congress Asset Management Co. now owns 1,068,811 shares of the company’s stock worth $34,651,000 after purchasing an additional 205,503 shares during the period. Amundi increased its stake in shares of Karman by 44.6% during the first quarter. Amundi now owns 512,231 shares of the company’s stock valued at $41,004,000 after purchasing an additional 158,068 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Karman by 123.8% during the first quarter. Bank of America Corp DE now owns 459,531 shares of the company’s stock valued at $36,785,000 after purchasing an additional 254,161 shares in the last quarter. Finally, Rokos Capital Management LLP purchased a new position in shares of Karman during the first quarter valued at approximately $35,261,000.

Karman Company Profile

Karman Holdings Corp., doing business as Karman Space & Defense, is an aerospace and defense company that develops and manufactures mission-critical components, assemblies and structures. Its products are used in space-launch vehicles, missiles, hypersonic systems and other defense applications where performance, reliability and precision are essential.

The company’s capabilities include the production of composite and metallic structures, propulsion-related components, precision-machined parts and other highly engineered hardware.