Karman (NYSE:KRMN) Trading 7.9% Higher – Here’s What Happened

Karman Holdings Inc. (NYSE:KRMN) shares shot up 7.9% during mid-day trading on Thursday . The company traded as high as $87.17 and last traded at $87.4230. 2,478,038 shares changed hands during trading, an increase of 18% from the average session volume of 2,101,093 shares. The stock had previously closed at $81.00.

Analyst Upgrades and Downgrades

KRMN has been the topic of several analyst reports. KeyCorp upped their price target on Karman from $80.00 to $122.00 and gave the company an “overweight” rating in a research report on Wednesday, January 28th. BWS Financial reaffirmed a “sell” rating and issued a $37.00 price target on shares of Karman in a report on Thursday, January 22nd. Piper Sandler initiated coverage on Karman in a research note on Wednesday, January 21st. They set a “neutral” rating and a $98.00 price objective for the company. Weiss Ratings restated a “hold (c-)” rating on shares of Karman in a research note on Monday, December 29th. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $130.00 price objective on shares of Karman in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $103.33.

Karman Stock Performance

The firm has a market cap of $11.70 billion and a PE ratio of 353.28. The company has a 50 day simple moving average of $90.18 and a 200-day simple moving average of $74.22. The company has a debt-to-equity ratio of 1.27, a current ratio of 2.86 and a quick ratio of 2.69.

Institutional Investors Weigh In On Karman

A number of hedge funds and other institutional investors have recently modified their holdings of KRMN. Vanguard Group Inc. grew its position in Karman by 151.1% during the 4th quarter. Vanguard Group Inc. now owns 9,342,230 shares of the company’s stock worth $683,571,000 after acquiring an additional 5,621,556 shares during the last quarter. Lexington Partners L.P. bought a new stake in Karman in the third quarter valued at approximately $319,861,000. Invesco Ltd. boosted its stake in shares of Karman by 27.3% during the fourth quarter. Invesco Ltd. now owns 4,088,649 shares of the company’s stock valued at $299,166,000 after purchasing an additional 877,462 shares during the period. Donaldson Capital Management LLC bought a new position in shares of Karman in the third quarter worth approximately $252,803,000. Finally, State Street Corp increased its stake in shares of Karman by 35.0% in the fourth quarter. State Street Corp now owns 3,326,430 shares of the company’s stock worth $243,395,000 after buying an additional 862,089 shares during the period.

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.