Citigroup Boosts Karman (NYSE:KRMN) Price Target to $78.00

Karman (NYSE:KRMN) had its target price lifted by stock analysts at Citigroup from $76.00 to $78.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target points to a potential upside of 33.04% from the stock’s previous close.

Several other research firms also 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. Weiss Ratings downgraded Karman from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, June 29th. Needham & Company LLC cut their price target on Karman from $125.00 to $80.00 and set a “buy” rating for the company in a report on Friday. KeyCorp cut their target price on Karman from $122.00 to $100.00 and set an “overweight” rating for the company in a research note on Wednesday, May 20th. Finally, Evercore set a $100.00 target price on shares of Karman in a research note on Wednesday, May 13th. Two research 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 assigned a Sell rating to the stock. According to MarketBeat.com, Karman presently has an average rating of “Moderate Buy” and an average target price of $95.40.

Karman Trading Up 0.7%

Shares of Karman stock opened at $58.63 on Monday. The stock has a market capitalization of $7.77 billion, a P/E ratio of 203.51 and a beta of 0.56. Karman has a 52-week low of $43.68 and a 52-week high of $118.38. The company has a debt-to-equity ratio of 2.01, a quick ratio of 3.40 and a current ratio of 3.56. The stock’s 50-day simple moving average is $49.86 and its 200 day simple moving average is $72.89.

Karman (NYSE:KRMN) last posted its earnings results on Thursday, August 6th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.01. Karman had a net margin of 6.31% and a return on equity of 15.54%. The firm had revenue of $182.06 million during the quarter. During the same quarter in the previous year, the business earned $0.10 EPS. Karman’s revenue for the quarter was up 58.2% on a year-over-year basis. As a group, research analysts anticipate that Karman will post 0.57 EPS for the current year.

Institutional Trading of Karman

Hedge funds and other institutional investors have recently bought and sold shares of the stock. AustralianSuper Pty Ltd bought a new stake in shares of Karman during the 4th quarter valued at $33,679,000. UBS Group AG increased its position in Karman by 103.7% during the 4th quarter. UBS Group AG now owns 926,976 shares of the company’s stock valued at $67,827,000 after buying an additional 471,894 shares in the last quarter. Aubrey Capital Management Ltd bought a new stake in Karman in the fourth quarter worth $3,687,000. Mass General Brigham Inc purchased a new stake in shares of Karman in the fourth quarter worth $114,295,000. Finally, Vanguard Group Inc. raised its position in shares of Karman by 151.1% in the 4th quarter. Vanguard Group Inc. now owns 9,342,230 shares of the company’s stock worth $683,571,000 after purchasing an additional 5,621,556 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.