Karman (NYSE:KRMN) Sets New 52-Week Low – Here’s What Happened

Karman Holdings Inc. (NYSE:KRMN)’s share price reached a new 52-week low on Tuesday. The company traded as low as $30.51 and last traded at $30.7720, with a volume of 283,094 shares. The stock had previously closed at $31.88.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on KRMN. Weiss Ratings upgraded shares of Karman from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Guggenheim initiated 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. Truist Financial reduced their price objective on Karman from $118.00 to $85.00 and set a “buy” rating on the stock in a research note on Thursday, August 13th. Piper Sandler reissued an “overweight” rating and set a $91.00 price objective (down from $114.00) on shares of Karman in a research note on Friday, August 7th. Finally, Royal Bank Of Canada decreased their price objective on Karman from $85.00 to $70.00 and set an “outperform” rating on the stock in a research report on Monday, September 28th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $87.33.

Karman Stock Performance

The stock has a market cap of $3.99 billion, a P/E ratio of 65.54 and a beta of 0.64. The business has a 50 day moving average price of $42.26 and a 200 day moving average price of $54.38. 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 announced its quarterly earnings data on Thursday, August 6th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.13 by $0.01. Karman had a return on equity of 15.54% and a net margin of 6.31%. The company had revenue of $182.06 million for the quarter. During the same period last year, the company earned $0.10 EPS. The business’s revenue was up 58.2% compared to the same quarter last year. As a group, sell-side analysts expect that Karman Holdings Inc. will post 0.59 EPS for the current year.

Insider Activity at Karman

In related news, Director David Stinnett purchased 27,000 shares of Karman stock in a transaction that occurred on Wednesday, September 16th. The shares were bought at an average price of $37.32 per share, with a total value of $1,007,640.00. Following the purchase, the director directly owned 3,530,395 shares of the company’s stock, valued at approximately $131,754,341.40. This represents a 0.77% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.77% of the company’s stock.

Hedge Funds Weigh In On Karman

A number of hedge funds have recently added to or reduced their stakes in the stock. Grandeur Peak Global Advisors LLC lifted its stake in Karman by 98.4% in the second quarter. Grandeur Peak Global Advisors LLC now owns 59,025 shares of the company’s stock worth $2,947,000 after acquiring an additional 29,281 shares during the period. Wellington Management Group LLP bought a new position in Karman during the 2nd quarter worth about $16,086,000. Readystate Asset Management LP purchased a new position in Karman during the 2nd quarter valued at about $5,675,000. Dimensional Fund Advisors LP increased its position in Karman by 81.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 47,381 shares of the company’s stock valued at $3,793,000 after purchasing an additional 21,224 shares during the period. Finally, Bouvel Investment Partners LLC bought a new stake in shares of Karman in the 3rd quarter valued at about $1,841,000.

Karman Company Profile

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.