Karman (NYSE:KRMN) Stock Jumps 7.5% – Still a Buy?

Karman Holdings Inc. (NYSE:KRMN) shares shot up 7.5% on Friday. The stock traded as high as $34.14 and last traded at $34.2750. 1,207,063 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 2,806,275 shares. The stock had previously closed at $31.89.

Analysts Set New Price Targets

Several research firms recently commented on KRMN. Piper Sandler reaffirmed an “overweight” rating and issued a $91.00 price objective (down from $114.00) on shares of Karman in a report on Friday, August 7th. Truist Financial cut their price target on Karman from $118.00 to $85.00 and set a “buy” rating for the company in a report on Thursday, August 13th. Guggenheim began coverage on Karman in a research report on Monday, September 14th. They issued a “buy” rating and a $63.00 price target for the company. BWS Financial reissued a “sell” rating and set a $37.00 price objective on shares of Karman in a report on Monday, August 10th. Finally, Weiss Ratings lowered Karman from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, September 10th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $88.09.

Karman Stock Performance

The company’s fifty day simple moving average is $45.46 and its 200 day simple moving average is $58.72. The stock has a market capitalization of $4.56 billion, a P/E ratio of 118.61 and a beta of 0.65. 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 (NYSE:KRMN) last issued its quarterly earnings data 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. The company had revenue of $182.06 million for the quarter. Karman had a return on equity of 15.54% and a net margin of 6.31%.The company’s quarterly revenue was up 58.2% on a year-over-year basis. During the same quarter last year, the business posted $0.10 EPS. As a group, sell-side analysts forecast that Karman Holdings Inc. will post 0.59 earnings per share for the current fiscal year.

Insider Buying and Selling at Karman

In other Karman news, Director David Stinnett purchased 27,000 shares of the stock in a transaction on Wednesday, September 16th. The shares were purchased at an average price of $37.32 per share, with a total value of $1,007,640.00. Following the acquisition, the director directly owned 3,530,395 shares in the company, valued at approximately $131,754,341.40. The trade was a 0.77% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.77% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Karman

Hedge funds have recently bought and sold shares of the stock. HBK Investments L P purchased a new position in Karman in the 2nd quarter worth approximately $998,000. Tidal Investments LLC grew its position in Karman by 78.1% in the second quarter. Tidal Investments LLC now owns 29,199 shares of the company’s stock worth $1,458,000 after acquiring an additional 12,807 shares in the last quarter. Engineers Gate Manager LP bought a new position in Karman in the second quarter valued at $470,000. NewEdge Advisors LLC raised its position in Karman by 163.3% during the second quarter. NewEdge Advisors LLC now owns 3,112 shares of the company’s stock valued at $155,000 after purchasing an additional 1,930 shares in the last quarter. Finally, Arizona State Retirement System lifted its stake in Karman by 13.2% during the second quarter. Arizona State Retirement System now owns 16,456 shares of the company’s stock worth $821,000 after purchasing an additional 1,915 shares during the last quarter.

About Karman

Karman (NYSE: KRMN), through its subsidiaries, provides engineered components and manufacturing services for the aerospace and defense industries. The company focuses on mission-critical products used in space launch vehicles, missile systems, hypersonic platforms and other high-performance aerospace applications.

Its capabilities include the design and production of composite and metallic structures, precision-machined components, complex assemblies, thermal protection products and other specialized hardware.