Karman (NYSE:KRMN) Hits New 1-Year Low – Here’s What Happened

Karman Holdings Inc. (NYSE:KRMN) hit a new 52-week low during trading on Tuesday . The company traded as low as $43.68 and last traded at $44.2960, with a volume of 190816 shares traded. The stock had previously closed at $44.88.

Analyst Ratings Changes

A number of research analysts recently commented on KRMN shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $125.00 price target on shares of Karman in a research note on Thursday, April 9th. Piper Sandler reduced their price objective on shares of Karman from $127.00 to $114.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 19th. BWS Financial restated a “sell” rating and issued a $37.00 target price on shares of Karman in a research report on Monday, May 18th. KeyCorp dropped their target price on shares of Karman from $122.00 to $100.00 and set an “overweight” rating for the company in a research report on Wednesday, May 20th. Finally, Truist Financial raised shares of Karman to a “strong-buy” rating in a report on Friday, May 1st. Two equities research 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 given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $103.50.

Karman Stock Up 1.9%

The firm’s fifty day moving average price is $52.93 and its 200-day moving average price is $77.03. The company has a market capitalization of $6.30 billion, a price-to-earnings ratio of 206.81 and a beta of 0.51. The company has a debt-to-equity ratio of 2.08, a current ratio of 3.53 and a quick ratio of 3.38.

Karman (NYSE:KRMN) last issued its quarterly earnings data on Tuesday, May 12th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.03. Karman had a net margin of 5.73% and a return on equity of 14.94%. The business had revenue of $151.21 million during the quarter, compared to analyst estimates of $150.19 million. During the same quarter last year, the business earned $0.05 EPS. The firm’s quarterly revenue was up 51.0% on a year-over-year basis. Sell-side analysts expect that Karman Holdings Inc. will post 0.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Karman

A number of hedge funds have recently modified their holdings of the business. Millennium Management LLC bought a new stake in shares of Karman in the first quarter worth $10,199,000. Goldman Sachs Group Inc. bought a new position in Karman during the 1st quarter worth $17,371,000. Jane Street Group LLC bought a new position in Karman during the 1st quarter worth $532,000. Rhumbline Advisers acquired a new position in Karman during the 2nd quarter worth about $1,316,000. Finally, New York State Common Retirement Fund acquired a new position in Karman during the 2nd quarter worth about $554,000.

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.