Karman (NYSE:KRMN) Stock Price Up 9.2% – Here’s Why

Karman Holdings Inc. (NYSE:KRMN)’s share price was up 9.2% during mid-day trading on Thursday. The stock traded as high as $41.70 and last traded at $41.4840. 1,609,343 shares traded hands during trading, a decline of 43% from the average session volume of 2,831,442 shares. The stock had previously closed at $37.98.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on KRMN. BWS Financial restated a “sell” rating and issued a $37.00 price objective on shares of Karman in a research report on Monday, August 10th. Oppenheimer began coverage on Karman in a research report on Thursday, October 22nd. They set an “outperform” rating and a $40.00 price target for the company. Needham & Company LLC reduced their price objective on shares of Karman from $125.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Barclays began coverage on Karman in a report on Friday, October 9th. They issued an “overweight” rating and a $79.00 price target for the company. Finally, Piper Sandler reduced their target price on Karman from $91.00 to $59.00 and set an “overweight” rating on the stock in a report on Friday, October 23rd. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $77.57.

Karman Stock Performance

The company has a market capitalization of $5.28 billion, a price-to-earnings ratio of 137.28 and a beta of 0.64. The stock has a 50 day simple moving average of $37.11 and a 200 day simple moving average of $64.25. The company has a quick ratio of 3.40, a current ratio of 3.56 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 for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. Karman had a net margin of 6.31% and a return on equity of 15.54%. The business had revenue of $182.06 million for the quarter. During the same quarter in the prior year, the firm earned $0.10 earnings per share. Karman’s revenue for the quarter was up 58.2% compared to the same quarter last year. As a group, analysts anticipate that Karman Holdings Inc. will post 0.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Karman news, Director David Stinnett bought 27,000 shares of the stock in a transaction that occurred on Wednesday, September 16th. The shares were acquired 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. The trade was a 0.77% increase in their position. The acquisition 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 company insiders.

Institutional Investors Weigh In On Karman

Large investors have recently modified their holdings of the business. Oregon Public Employees Retirement Fund bought a new stake in Karman during the third quarter valued at $908,000. VIRGINIA RETIREMENT SYSTEMS ET Al grew its position in Karman by 170.8% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 13,000 shares of the company’s stock worth $421,000 after purchasing an additional 8,200 shares in the last quarter. D.A. Davidson & CO. raised its stake in shares of Karman by 19.5% during the 3rd quarter. D.A. Davidson & CO. now owns 13,815 shares of the company’s stock worth $448,000 after purchasing an additional 2,250 shares during the period. Pinnacle Wealth Planning Services Inc. bought a new position in Karman during the third quarter valued at $32,000. Finally, Park Avenue Securities LLC raised its position in shares of Karman by 17.2% in the third quarter. Park Avenue Securities LLC now owns 20,753 shares of the company’s stock valued at $673,000 after purchasing an additional 3,041 shares during the period.

Karman Company Profile

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.