Oppenheimer Begins Coverage on Karman (NYSE:KRMN)

Investment analysts at Oppenheimer started coverage on shares of Karman (NYSE:KRMN) in a research note issued on Thursday, Briefing.com reports. The brokerage set an “outperform” rating and a $40.00 price target on the stock. Oppenheimer’s target price would indicate a potential upside of 13.20% from the stock’s current price.

A number of other research firms also recently issued reports on KRMN. Citigroup raised their price objective on shares of Karman from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Royal Bank Of Canada decreased their price target on shares of Karman from $85.00 to $70.00 and set an “outperform” rating on the stock in a research report on Monday, September 28th. Weiss Ratings upgraded shares of Karman from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Barclays assumed coverage on shares of Karman in a research report on Friday, October 9th. They set an “overweight” rating and a $79.00 price objective for the company. Finally, Guggenheim started coverage on Karman in a report on Monday, September 14th. They set a “buy” rating and a $63.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $83.69.

Karman Trading Up 0.9%

Shares of NYSE:KRMN opened at $35.34 on Thursday. The stock has a market capitalization of $4.68 billion, a price-to-earnings ratio of 121.86 and a beta of 0.64. The company has a debt-to-equity ratio of 2.01, a quick ratio of 3.40 and a current ratio of 3.56. The stock’s 50-day simple moving average is $39.72 and its two-hundred day simple moving average is $52.72. Karman has a 52-week low of $29.34 and a 52-week high of $118.38.

Karman (NYSE:KRMN) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. Karman had a return on equity of 15.54% and a net margin of 6.31%. The business had revenue of $182.06 million during the quarter. During the same quarter in the prior year, the firm earned $0.10 earnings per share. The company’s revenue for the quarter was up 58.2% compared to the same quarter last year. Analysts expect that Karman will post 0.59 EPS for the current year.

Insider Buying and Selling

In other news, Director David Stinnett bought 27,000 shares of the firm’s stock in a transaction on Wednesday, September 16th. The shares were bought at an average price of $37.32 per share, for a total transaction of $1,007,640.00. Following the purchase, the director owned 3,530,395 shares in the company, valued at approximately $131,754,341.40. The trade was a 0.77% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.77% of the company’s stock.

Hedge Funds Weigh In On Karman

A number of hedge funds have recently modified their holdings of KRMN. Grandeur Peak Global Advisors LLC lifted its position in shares of Karman by 98.4% in the second quarter. Grandeur Peak Global Advisors LLC now owns 59,025 shares of the company’s stock valued at $2,947,000 after acquiring an additional 29,281 shares in the last quarter. Readystate Asset Management LP bought a new position in shares of Karman during the second quarter worth $5,675,000. Wellington Management Group LLP purchased a new position in Karman during the second quarter valued at $16,086,000. Dimensional Fund Advisors LP grew its stake in Karman by 81.1% during the first quarter. Dimensional Fund Advisors LP now owns 47,381 shares of the company’s stock valued at $3,793,000 after acquiring an additional 21,224 shares in the last quarter. Finally, Bouvel Investment Partners LLC bought a new stake in Karman in the 3rd quarter valued at $1,841,000.

Karman Company Profile

Karman Holdings Corp., doing business as Karman Space & Defense, is an aerospace and defense company that develops and manufactures mission-critical components, assemblies and structures. Its products are used in space-launch vehicles, missiles, hypersonic systems and other defense applications where performance, reliability and precision are essential.

The company’s capabilities include the production of composite and metallic structures, propulsion-related components, precision-machined parts and other highly engineered hardware.