Royal Bank Of Canada Cuts Karman (NYSE:KRMN) Price Target to $85.00

Karman (NYSE:KRMN) had its price target decreased by equities researchers at Royal Bank Of Canada from $93.00 to $85.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective points to a potential upside of 19.56% from the company’s previous close.

KRMN has been the subject of several other reports. Evercore ISI boosted their price target on Karman from $58.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday, September 29th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Karman in a research note on Wednesday, October 8th. Truist Financial began coverage on shares of Karman in a research report on Friday, October 10th. They issued a “buy” rating and a $89.00 target price for the company. Finally, Raymond James Financial began coverage on shares of Karman in a research note on Friday, September 5th. They issued a “strong-buy” rating and a $100.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Karman has an average rating of “Buy” and a consensus target price of $76.17.

Karman Price Performance

NYSE:KRMN traded down $3.89 during trading hours on Friday, reaching $71.09. 4,815,889 shares of the company were exchanged, compared to its average volume of 1,275,043. The firm has a market cap of $9.41 billion and a PE ratio of 473.96. Karman has a twelve month low of $25.02 and a twelve month high of $88.82. The stock’s 50-day moving average is $71.67 and its 200-day moving average is $54.95. The company has a current ratio of 2.75, a quick ratio of 2.58 and a debt-to-equity ratio of 1.30.

Karman (NYSE:KRMN) last posted its quarterly earnings data on Friday, November 7th. The company reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. The firm had revenue of $121.79 million during the quarter. During the same quarter last year, the firm posted $0.04 EPS. The company’s revenue was up 41.7% compared to the same quarter last year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Farther Finance Advisors LLC boosted its holdings in Karman by 56.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock valued at $33,000 after acquiring an additional 164 shares during the period. Global Retirement Partners LLC lifted its position in shares of Karman by 5,718.2% during the third quarter. Global Retirement Partners LLC now owns 640 shares of the company’s stock worth $46,000 after purchasing an additional 629 shares in the last quarter. Global Trust Asset Management LLC acquired a new stake in shares of Karman during the second quarter worth about $50,000. Penserra Capital Management LLC purchased a new position in shares of Karman in the second quarter valued at approximately $95,000. Finally, Amalgamated Bank acquired a new position in shares of Karman in the second quarter valued at approximately $100,000.

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.