Karman (NYSE:KRMN) Sets New 52-Week Low – Time to Sell?

Karman Holdings Inc. (NYSE:KRMN) reached a new 52-week low during mid-day trading on Wednesday. The company traded as low as $31.24 and last traded at $31.1480, with a volume of 736234 shares changing hands. The stock had previously closed at $33.29.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on KRMN shares. Guggenheim began coverage on shares of Karman in a research report on Monday, September 14th. They issued a “buy” rating and a $63.00 price target for the company. Piper Sandler reiterated an “overweight” rating and set a $91.00 target price (down from $114.00) on shares of Karman in a research report on Friday, August 7th. Citigroup boosted their price target on Karman from $76.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Barclays started coverage on shares of Karman in a report on Thursday. They issued an “overweight” rating and a $79.00 target price on the stock. Finally, Needham & Company LLC reduced their price target on shares of Karman from $125.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Karman currently has an average rating of “Moderate Buy” and a consensus price target of $87.33.

Karman Stock Up 1.2%

The stock has a market capitalization of $4.21 billion, a price-to-earnings ratio of 109.50 and a beta of 0.64. The company has a quick ratio of 3.40, a current ratio of 3.56 and a debt-to-equity ratio of 2.01. The stock has a 50 day moving average price of $43.91 and a 200 day moving average price of $56.25.

Karman (NYSE:KRMN) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.14 earnings per share (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 during the quarter. During the same period in the prior year, the company earned $0.10 EPS. The business’s quarterly revenue was up 58.2% compared to the same quarter last year. As a group, analysts forecast that Karman Holdings Inc. will post 0.59 EPS for the current year.

Insider Activity at Karman

In other Karman news, Director David Stinnett acquired 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 completion of the purchase, the director directly owned 3,530,395 shares in the company, valued at $131,754,341.40. This trade represents a 0.77% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 5.77% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors 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 first quarter. First Trust Advisors LP now owns 2,891,687 shares of the company’s stock worth $231,480,000 after acquiring an additional 93,565 shares during the last quarter. Van ECK Associates Corp raised its holdings in Karman by 125.3% during the 4th quarter. Van ECK Associates Corp now owns 2,867,379 shares of the company’s stock worth $209,806,000 after purchasing an additional 1,594,518 shares during the last quarter. Falcon Wealth Planning acquired a new position in shares of Karman in the 1st quarter worth approximately $205,684,000. Congress Asset Management Co. boosted its stake in shares of Karman by 23.8% in the 3rd quarter. Congress Asset Management Co. now owns 1,068,811 shares of the company’s stock valued at $34,651,000 after purchasing an additional 205,503 shares during the last quarter. Finally, Amundi increased its position in shares of Karman by 44.6% during the first quarter. Amundi now owns 512,231 shares of the company’s stock worth $41,004,000 after buying an additional 158,068 shares during the period.

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.