Karman (NYSE:KRMN) Stock Falls 10% – What’s Next?

Karman Holdings Inc. (NYSE:KRMN)’s share price dropped 10% on Wednesday. The stock traded as low as $36.80 and last traded at $35.5780. 213,062 shares changed hands during trading, a decline of 92% from the average session volume of 2,817,359 shares. The stock had previously closed at $39.51.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Citigroup increased their price target on shares of Karman from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Oppenheimer initiated coverage on shares of Karman in a report on Thursday, October 22nd. They issued an “outperform” rating and a $40.00 target price on the stock. Guggenheim started coverage on shares of Karman in a research note on Monday, September 14th. They issued a “buy” rating and a $63.00 target price on the stock. Weiss Ratings raised shares of Karman from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Finally, KeyCorp decreased their price objective on shares of Karman from $100.00 to $65.00 and set an “overweight” rating on the stock in a research report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $75.07.

Karman Price Performance

The company has a quick ratio of 3.40, a current ratio of 3.56 and a debt-to-equity ratio of 2.01. The firm has a 50 day moving average price of $36.59 and a 200 day moving average price of $63.56. The stock has a market cap of $4.37 billion, a P/E ratio of 114.08 and a beta of 0.45.

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 during the quarter. During the same quarter in the previous year, the company posted $0.10 EPS. The company’s quarterly revenue was up 58.2% on a year-over-year basis. On average, analysts forecast that Karman Holdings Inc. will post 0.59 EPS for the current fiscal year.

Insider Transactions at Karman

In other Karman news, Director David Stinnett purchased 27,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 16th. The shares were bought at an average price 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 in the company, valued at $131,754,341.40. This trade represents a 0.77% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 5.77% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Karman

Several institutional investors and hedge funds have recently modified their holdings of the stock. Rokos Capital Management LLP acquired a new stake in Karman during the first quarter valued at $35,261,000. Wellington Management Group LLP acquired a new stake in Karman in the second quarter valued at approximately $16,086,000. Ranger Investment Management L.P. acquired a new stake in Karman in the second quarter valued at approximately $13,902,000. Bank of America Corp DE grew its position in shares of Karman by 123.8% in 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 during the period. Finally, Congress Asset Management Co. raised its position in shares of Karman by 23.8% in the third quarter. Congress Asset Management Co. now owns 1,068,811 shares of the company’s stock valued at $34,651,000 after buying an additional 205,503 shares during the last quarter.

About Karman

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.