Karman (NYSE:KRMN) Reaches New 12-Month High – What’s Next?

Shares of Karman Holdings Inc. (NYSE:KRMN) reached a new 52-week high on Wednesday . The stock traded as high as $109.81 and last traded at $108.2030, with a volume of 489864 shares trading hands. The stock had previously closed at $107.49.

Analyst Ratings Changes

KRMN has been the topic of a number of recent research reports. Royal Bank Of Canada dropped their price objective on shares of Karman from $93.00 to $85.00 and set an “outperform” rating on the stock in a research note on Friday, November 7th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Karman in a research report on Monday, December 29th. KeyCorp assumed coverage on Karman in a report on Thursday, December 18th. They issued an “overweight” rating and a $80.00 target price on the stock. Citigroup lifted their target price on shares of Karman from $84.00 to $123.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Evercore ISI increased their target price on Karman from $58.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday, September 29th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Karman has a consensus rating of “Moderate Buy” and an average price target of $83.50.

Karman Price Performance

The stock has a 50-day simple moving average of $72.91 and a 200 day simple moving average of $65.37. The company has a debt-to-equity ratio of 1.27, a quick ratio of 2.69 and a current ratio of 2.86. The company has a market cap of $14.37 billion and a P/E ratio of 433.63.

Karman (NYSE:KRMN) last posted its quarterly earnings results on Friday, November 7th. The company reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. Karman had a net margin of 2.65% and a return on equity of 11.11%. The firm had revenue of $121.79 million during the quarter. During the same period last year, the company earned $0.04 EPS. The business’s revenue for the quarter was up 41.7% on a year-over-year basis.

Insider Buying and Selling

In other Karman news, insider Stephanie Sawhill sold 62,000 shares of the business’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $63.93, for a total transaction of $3,963,660.00. Following the transaction, the insider directly owned 504,939 shares of the company’s stock, valued at approximately $32,280,750.27. The trade was a 10.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael Willis sold 115,000 shares of Karman stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $58.63, for a total value of $6,742,450.00. Following the sale, the chief financial officer owned 859,709 shares in the company, valued at $50,404,738.67. This represents a 11.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 251,000 shares of company stock valued at $15,419,170 over the last quarter.

Institutional Investors Weigh In On Karman

Several hedge funds have recently bought and sold shares of the business. Lexington Partners L.P. purchased a new stake in Karman in the third quarter worth about $319,861,000. Donaldson Capital Management LLC purchased a new stake in shares of Karman in the 3rd quarter worth approximately $252,803,000. Schusterman Interests LLC bought a new position in Karman during the 3rd quarter valued at approximately $148,024,000. Vanguard Group Inc. raised its stake in Karman by 99.0% during the third quarter. Vanguard Group Inc. now owns 3,720,674 shares of the company’s stock valued at $268,633,000 after buying an additional 1,851,394 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings in Karman by 2,745.0% in the third quarter. First Trust Advisors LP now owns 1,875,197 shares of the company’s stock worth $135,389,000 after acquiring an additional 1,809,284 shares in the last quarter.

Karman Company Profile

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.