Karman (NYSE:KRMN) Stock Gets Price Target Trim from KeyCorp

Karman (NYSE:KRMN) had its price target lowered by KeyCorp from $100.00 to $65.00 in a report issued on Monday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

KRMN has been the topic of a number of other research reports. UBS Group set a $40.00 price target on shares of Karman in a research note on Thursday, October 22nd. Weiss Ratings raised shares of Karman from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Royal Bank Of Canada dropped their price objective on shares of Karman from $70.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, October 28th. Guggenheim started coverage on shares of Karman in a research report on Monday, September 14th. They issued a “buy” rating and a $63.00 price objective on the stock. Finally, Barclays began coverage on shares of Karman in a research report on Friday, October 9th. They issued an “overweight” rating and a $79.00 price objective on the stock. Two 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 given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $75.07.

Karman Trading Down 12.9%

NYSE:KRMN opened at $34.40 on Monday. Karman has a fifty-two week low of $29.34 and a fifty-two week high of $118.38. The company has a debt-to-equity ratio of 2.01, a current ratio of 3.56 and a quick ratio of 3.40. The stock has a market capitalization of $4.56 billion, a PE ratio of 85.89 and a beta of 0.45. The business’s 50-day simple moving average is $36.29 and its 200-day simple moving average is $63.19.

Karman (NYSE:KRMN) last posted its earnings results 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 business had revenue of $182.06 million during the quarter. Karman had a return on equity of 15.54% and a net margin of 6.31%. Karman’s revenue for the quarter was up 58.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.10 earnings per share. Sell-side analysts expect that Karman will post 0.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director David Stinnett bought 27,000 shares of the business’s stock in a transaction on Wednesday, September 16th. The shares were purchased at an average price of $37.32 per share, for a total transaction of $1,007,640.00. Following the purchase, the director owned 3,530,395 shares of the company’s stock, valued at approximately $131,754,341.40. The trade was a 0.77% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.77% of the company’s stock.

Hedge Funds Weigh In On Karman

Several hedge funds have recently made changes to their positions in the business. Lido Advisors LLC lifted its position in Karman by 104.2% during the 3rd quarter. Lido Advisors LLC now owns 19,130 shares of the company’s stock worth $620,000 after buying an additional 473,007 shares in the last quarter. Rokos Capital Management LLP acquired a new position in shares of Karman during the 1st quarter worth about $35,261,000. Wellington Management Group LLP bought a new position in shares of Karman in the 2nd quarter valued at about $16,086,000. Ranger Investment Management L.P. bought a new position in shares of Karman in the 2nd quarter valued at about $13,902,000. Finally, Bank of America Corp DE grew its holdings in shares of Karman by 123.8% in the 1st quarter. Bank of America Corp DE now owns 459,531 shares of the company’s stock valued at $36,785,000 after acquiring an additional 254,161 shares in the last quarter.

About Karman

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.