Karman (NYSE:KRMN) Trading 6.2% Higher After Analyst Upgrade

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

KRMN has been the subject of several other research reports. Truist Financial decreased their price objective on Karman from $118.00 to $85.00 and set a “buy” rating for the company in a report on Thursday, August 13th. KeyCorp cut 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. BWS Financial reiterated a “sell” rating and issued a $37.00 target price on shares of Karman in a research note on Monday, August 10th. Needham & Company LLC lowered their target price on shares of Karman from $125.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Finally, Royal Bank Of Canada dropped their price objective on Karman from $100.00 to $85.00 and set an “outperform” rating on the stock in a report on Friday, July 24th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $89.45.

Institutional Investors Weigh In On Karman

Institutional investors and hedge funds have recently bought and sold shares of the stock. First Trust Advisors LP raised its position in shares of Karman by 3.3% during the 1st quarter. First Trust Advisors LP now owns 2,891,687 shares of the company’s stock valued at $231,480,000 after buying an additional 93,565 shares in the last quarter. Van ECK Associates Corp raised its position in Karman by 125.3% during the fourth quarter. Van ECK Associates Corp now owns 2,867,379 shares of the company’s stock valued at $209,806,000 after purchasing an additional 1,594,518 shares in the last quarter. Falcon Wealth Planning bought a new stake in Karman during the first quarter worth about $205,684,000. Trustees of the University of Pennsylvania purchased a new position in shares of Karman in the 4th quarter worth about $142,869,000. Finally, Bank of New York Mellon Corp increased its position in shares of Karman by 14.0% during the 4th quarter. Bank of New York Mellon Corp now owns 1,495,619 shares of the company’s stock valued at $109,434,000 after purchasing an additional 184,099 shares during the last quarter.

Karman Trading Down 1.2%

The stock has a fifty day moving average of $48.41 and a two-hundred day moving average of $63.70. The company has a market capitalization of $4.91 billion, a PE ratio of 127.69 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.

Karman (NYSE:KRMN) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The business had revenue of $182.06 million for the quarter. Karman had a net margin of 6.31% and a return on equity of 15.54%. The firm’s revenue was up 58.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.10 earnings per share. As a group, sell-side analysts anticipate that Karman Holdings Inc. will post 0.59 earnings per share for the current fiscal year.

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.