Karman (NYSE:KRMN) Rating Increased to Overweight at Piper Sandler

Piper Sandler upgraded shares of Karman (NYSE:KRMN) from a neutral rating to an overweight rating in a research report sent to investors on Friday, Marketbeat Ratings reports. Piper Sandler currently has $127.00 price objective on the stock, up from their previous price objective of $110.00.

Other analysts have also issued research reports about the company. Raymond James Financial reissued a “strong-buy” rating and set a $130.00 price objective on shares of Karman in a report on Thursday, January 22nd. BWS Financial reaffirmed a “sell” rating and issued a $37.00 target price on shares of Karman in a research report on Thursday, January 22nd. Royal Bank Of Canada lifted their price target on shares of Karman from $85.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, January 22nd. Citigroup restated a “buy” rating on shares of Karman in a research note on Thursday, February 19th. Finally, Truist Financial set a $118.00 price target on shares of Karman in a research report on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Karman presently has a consensus rating of “Moderate Buy” and an average price target of $106.56.

Karman Stock Performance

KRMN traded up $3.46 on Friday, hitting $100.60. 4,074,480 shares of the stock traded hands, compared to its average volume of 2,519,557. The business has a fifty day moving average price of $94.16 and a two-hundred day moving average price of $77.38. The company has a current ratio of 2.86, a quick ratio of 2.69 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $13.31 billion and a PE ratio of 402.40. Karman has a 52 week low of $25.02 and a 52 week high of $118.38.

Hedge Funds Weigh In On Karman

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KRMN. Vanguard Group Inc. increased its holdings in shares of Karman by 151.1% during the fourth quarter. Vanguard Group Inc. now owns 9,342,230 shares of the company’s stock worth $683,571,000 after buying an additional 5,621,556 shares in the last quarter. Lexington Partners L.P. acquired a new stake in Karman during the 3rd quarter valued at $319,861,000. Invesco Ltd. increased its holdings in Karman by 27.3% during the 4th quarter. Invesco Ltd. now owns 4,088,649 shares of the company’s stock valued at $299,166,000 after purchasing an additional 877,462 shares in the last quarter. Donaldson Capital Management LLC acquired a new position in Karman in the third quarter worth $252,803,000. Finally, State Street Corp grew its holdings in shares of Karman by 35.0% during the fourth quarter. State Street Corp now owns 3,326,430 shares of the company’s stock worth $243,395,000 after purchasing an additional 862,089 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.