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

Karman (NYSE:KRMN) had its price target decreased by analysts at Royal Bank Of Canada from $100.00 to $85.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price would suggest a potential upside of 71.51% from the company’s current price.

Several other brokerages have also commented on KRMN. Weiss Ratings lowered Karman from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, June 29th. Citigroup dropped their price objective on Karman from $97.00 to $76.00 and set a “buy” rating for the company in a research note on Wednesday, July 1st. Needham & Company LLC reissued a “buy” rating and set a $125.00 price objective on shares of Karman in a report on Thursday, April 9th. KeyCorp reduced their target price 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. Finally, Piper Sandler dropped their target price on shares of Karman from $127.00 to $114.00 and set an “overweight” rating for the company in a research report on Tuesday, May 19th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Karman presently has an average rating of “Moderate Buy” and an average price target of $102.00.

Karman Price Performance

NYSE:KRMN traded down $0.16 during mid-day trading on Friday, hitting $49.56. The company’s stock had a trading volume of 652,632 shares, compared to its average volume of 2,663,585. The company has a market capitalization of $6.57 billion, a price-to-earnings ratio of 215.21 and a beta of 0.51. The company has a current ratio of 3.53, a quick ratio of 3.38 and a debt-to-equity ratio of 2.08. Karman has a fifty-two week low of $43.68 and a fifty-two week high of $118.38. The stock has a fifty day moving average of $52.60 and a 200-day moving average of $76.84.

Karman (NYSE:KRMN) last released its quarterly earnings data on Tuesday, May 12th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.03. Karman had a return on equity of 14.94% and a net margin of 5.73%.The company had revenue of $151.21 million for the quarter, compared to the consensus estimate of $150.19 million. During the same period in the previous year, the business earned $0.05 earnings per share. The company’s quarterly revenue was up 51.0% on a year-over-year basis. As a group, equities analysts forecast that Karman will post 0.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its stake in shares of Karman by 83.7% during the fourth quarter. GAMMA Investing LLC now owns 373 shares of the company’s stock valued at $27,000 after purchasing an additional 170 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Karman by 889.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 386 shares of the company’s stock valued at $28,000 after acquiring an additional 347 shares during the period. CX Institutional acquired a new position in shares of Karman during the second quarter valued at $28,000. Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new position in shares of Karman during the third quarter valued at $29,000. Finally, Huntington National Bank bought a new position in Karman in the fourth quarter valued at about $32,000.

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. 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.