Karman (NYSE:KRMN) Sets New 52-Week High – Time to Buy?

Karman Holdings Inc. (NYSE:KRMN) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $109.81 and last traded at $108.2030, with a volume of 489864 shares. The stock had previously closed at $107.49.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. KeyCorp initiated coverage on shares of Karman in a research report on Thursday, December 18th. They set an “overweight” rating and a $80.00 price target on the stock. Truist Financial set a $118.00 price objective on shares of Karman in a research report on Friday, January 9th. Evercore ISI increased their price objective on shares of Karman from $58.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday, September 29th. Citigroup boosted their target price on Karman from $84.00 to $123.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Royal Bank Of Canada reduced their target price on Karman from $93.00 to $85.00 and set an “outperform” rating for the company in a report on Friday, November 7th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Karman has an average rating of “Moderate Buy” and a consensus target price of $83.50.

Karman Trading Down 0.5%

The company has a quick ratio of 2.69, a current ratio of 2.86 and a debt-to-equity ratio of 1.27. The firm has a market cap of $14.42 billion and a P/E ratio of 435.80. The firm’s 50-day simple moving average is $74.92 and its 200 day simple moving average is $66.37.

Karman (NYSE:KRMN) last issued its quarterly earnings results on Friday, November 7th. The company reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. The company had revenue of $121.79 million during the quarter. Karman had a net margin of 2.65% and a return on equity of 11.11%. The company’s revenue for the quarter was up 41.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.04 EPS.

Insiders Place Their Bets

In related news, COO Jonathan Beaudoin sold 74,000 shares of the business’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $63.69, for a total value of $4,713,060.00. Following the sale, the chief operating officer directly owned 666,861 shares in the company, valued at approximately $42,472,377.09. The trade was a 9.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Stephanie Sawhill sold 62,000 shares of the company’s stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $63.93, for a total transaction of $3,963,660.00. Following the sale, the insider directly owned 504,939 shares in the company, valued at approximately $32,280,750.27. This trade represents a 10.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 251,000 shares of company stock valued at $15,419,170 over the last ninety days.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC increased its position in shares of Karman by 56.4% during the third quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock valued at $33,000 after buying an additional 164 shares during the period. GAMMA Investing LLC boosted its position in shares of Karman by 83.7% in the fourth quarter. GAMMA Investing LLC now owns 373 shares of the company’s stock valued at $27,000 after acquiring an additional 170 shares during the period. Amalgamated Bank grew its stake in Karman by 9.4% during the third quarter. Amalgamated Bank now owns 2,183 shares of the company’s stock valued at $158,000 after acquiring an additional 188 shares in the last quarter. Barclays PLC grew its stake in Karman by 2.2% during the third quarter. Barclays PLC now owns 12,964 shares of the company’s stock valued at $936,000 after acquiring an additional 273 shares in the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new stake in Karman during the 3rd quarter worth approximately $29,000.

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.