Karman (NYSE:KRMN) Trading 6.2% Higher – Still a Buy?

Karman Holdings Inc. (NYSE:KRMN)’s stock price traded up 6.2% during mid-day trading on Tuesday . The stock traded as high as $36.34 and last traded at $36.8890. Approximately 1,093,114 shares changed hands during trading, a decline of 59% from the average session volume of 2,677,028 shares. The stock had previously closed at $34.74.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on KRMN. Needham & Company LLC cut their target price on Karman from $125.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. Piper Sandler reiterated an “overweight” rating and issued a $91.00 price target (down from $114.00) on shares of Karman in a research note on Friday, August 7th. Guggenheim started coverage on shares of Karman in a report on Monday. They set a “buy” rating and a $63.00 price objective on the stock. Weiss Ratings downgraded shares of Karman from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday. Finally, Royal Bank Of Canada lowered their target price on shares of Karman from $100.00 to $85.00 and set an “outperform” rating for the company in a report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Karman currently has an average rating of “Moderate Buy” and a consensus target price of $89.45.

Karman Price Performance

The firm has a market capitalization of $5.05 billion, a PE ratio of 131.20 and a beta of 0.47. The company has a current ratio of 3.56, a quick ratio of 3.40 and a debt-to-equity ratio of 2.01. The company has a fifty day moving average price of $48.95 and a two-hundred day moving average price of $64.38.

Karman (NYSE:KRMN) last released its quarterly 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. Karman had a return on equity of 15.54% and a net margin of 6.31%.The firm had revenue of $182.06 million for the quarter. During the same quarter in the prior year, the business earned $0.10 EPS. The company’s quarterly revenue was up 58.2% compared to the same quarter last year. Sell-side analysts forecast that Karman Holdings Inc. will post 0.59 earnings per share for the current year.

Institutional Trading of Karman

Several institutional investors and hedge funds have recently bought and sold shares of the business. Parkside Financial Bank & Trust grew its position in Karman by 3,471.4% during the 2nd quarter. Parkside Financial Bank & Trust now owns 500 shares of the company’s stock worth $25,000 after purchasing an additional 486 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Karman by 889.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 386 shares of the company’s stock valued at $28,000 after buying an additional 347 shares during the last quarter. CX Institutional acquired a new stake in shares of Karman during the second quarter worth about $28,000. Tsfg LLC acquired a new stake in shares of Karman during the second quarter worth about $30,000. Finally, Huntington National Bank purchased a new position in shares of Karman during the fourth quarter worth about $32,000.

Karman Company Profile

Karman is an aerospace and defense company that develops and manufactures mission-critical components, structures and systems for space and defense applications. Its offerings support launch vehicles, satellites, hypersonic systems and other advanced aerospace platforms.

The company provides capabilities across engineered metallic and composite structures, precision components, propulsion-related products and other specialized assemblies. Karman serves government and commercial aerospace customers involved in space launch, national security and defense programs.

Operating through a portfolio of aerospace and defense businesses, Karman combines design, engineering and manufacturing capabilities for complex, high-performance applications.