Karman (NYSE:KRMN) Given New $70.00 Price Target at Royal Bank Of Canada

Karman (NYSE:KRMN) had its price target cut by Royal Bank Of Canada from $85.00 to $70.00 in a report published on Monday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities research analysts have also recently issued reports on the stock. Truist Financial decreased their price target on shares of Karman from $118.00 to $85.00 and set a “buy” rating on the stock in a research note on Thursday, August 13th. Citigroup boosted their price objective on shares of Karman from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, August 10th. BWS Financial reissued a “sell” rating and set a $37.00 price objective on shares of Karman in a research note on Monday, August 10th. Needham & Company LLC decreased their target price 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. Finally, Weiss Ratings cut shares of Karman from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, September 10th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Karman currently has a consensus rating of “Moderate Buy” and an average target price of $88.09.

Karman Stock Down 5.6%

Shares of NYSE:KRMN opened at $33.69 on Monday. 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 company has a market capitalization of $4.46 billion, a P/E ratio of 116.16 and a beta of 0.47. Karman has a 52-week low of $32.20 and a 52-week high of $118.38. The stock’s fifty day simple moving average is $46.38 and its 200-day simple moving average is $60.18.

Karman (NYSE:KRMN) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.14 EPS for the quarter, topping 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 firm had revenue of $182.06 million during the quarter. During the same quarter in the prior year, the business posted $0.10 EPS. The company’s revenue for the quarter was up 58.2% compared to the same quarter last year. As a group, equities research analysts forecast that Karman will post 0.59 earnings per share for the current fiscal year.

Insider Transactions at Karman

In related news, Director David Stinnett bought 27,000 shares of the stock in a transaction that occurred on Wednesday, September 16th. The stock was purchased at an average cost of $37.32 per share, for a total transaction of $1,007,640.00. Following the completion of the acquisition, the director owned 3,530,395 shares in the company, valued at $131,754,341.40. This trade represents a 0.77% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.77% of the company’s stock.

Hedge Funds Weigh In On Karman

A number of hedge funds have recently made changes to their positions in the stock. HBK Investments L P purchased a new stake in shares of Karman during the 2nd quarter valued at $998,000. Tidal Investments LLC raised its position in shares of Karman by 78.1% in the 2nd quarter. Tidal Investments LLC now owns 29,199 shares of the company’s stock worth $1,458,000 after buying an additional 12,807 shares during the period. Engineers Gate Manager LP purchased a new position in shares of Karman in the 2nd quarter worth $470,000. NewEdge Advisors LLC boosted its holdings in Karman by 163.3% in the second quarter. NewEdge Advisors LLC now owns 3,112 shares of the company’s stock valued at $155,000 after acquiring an additional 1,930 shares during the last quarter. Finally, Arizona State Retirement System boosted its holdings in Karman by 13.2% in the second quarter. Arizona State Retirement System now owns 16,456 shares of the company’s stock valued at $821,000 after acquiring an additional 1,915 shares during the last quarter.

Karman Company Profile

Karman is an aerospace and defense company that develops and manufactures mission-critical components, structures and systems for space and defense applications. Its offerings support launch vehicles, satellites, hypersonic systems and other advanced aerospace platforms.

The company provides capabilities across engineered metallic and composite structures, precision components, propulsion-related products and other specialized assemblies. Karman serves government and commercial aerospace customers involved in space launch, national security and defense programs.

Operating through a portfolio of aerospace and defense businesses, Karman combines design, engineering and manufacturing capabilities for complex, high-performance applications.