Karman (NYSE:KRMN) Shares Gap Up – Still a Buy?

Shares of Karman Holdings Inc. (NYSE:KRMN) gapped up prior to trading on Wednesday . The stock had previously closed at $45.83, but opened at $48.49. Karman shares last traded at $50.1710, with a volume of 551,989 shares.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on KRMN shares. Weiss Ratings cut shares of Karman from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, June 29th. Truist Financial upgraded Karman to a “strong-buy” rating in a report on Friday, May 1st. Royal Bank Of Canada reissued an “outperform” rating and set a $100.00 price objective on shares of Karman in a research report on Tuesday, June 2nd. Piper Sandler lowered their target price on Karman from $127.00 to $114.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 19th. Finally, Evercore set a $100.00 target price on Karman in a research report on Wednesday, May 13th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $103.50.

Karman Trading Up 10.2%

The company has a market cap of $6.70 billion, a price-to-earnings ratio of 219.67 and a beta of 0.51. The company’s 50 day moving average price is $54.76 and its 200 day moving average price is $78.26. The company has a debt-to-equity ratio of 2.08, a quick ratio of 3.38 and a current ratio of 3.53.

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

Institutional Trading of Karman

Several large investors have recently made changes to their positions in KRMN. Legacy Wealth Asset Management LLC increased its holdings in shares of Karman by 32.1% during the 2nd quarter. Legacy Wealth Asset Management LLC now owns 4,013 shares of the company’s stock valued at $200,000 after acquiring an additional 976 shares during the last quarter. Hilltop National Bank boosted its position in Karman by 87.8% during the second quarter. Hilltop National Bank now owns 1,258 shares of the company’s stock worth $63,000 after purchasing an additional 588 shares during the period. CX Institutional bought a new stake in Karman during the second quarter worth approximately $28,000. BankChampaign National Association acquired a new position in Karman during the first quarter valued at approximately $254,000. Finally, Bank of America Corp DE grew its holdings in Karman by 123.8% during the first quarter. Bank of America Corp DE now owns 459,531 shares of the company’s stock valued at $36,785,000 after purchasing an additional 254,161 shares during the last quarter.

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.