Karman (NYSE:KRMN) Given New $65.00 Price Target at KeyCorp

Key Points

• KeyCorp lowered Karman’s price target to $65 from $100 while maintaining an “overweight” rating, implying 63.28% upside from the stock’s $39.81 price. The analyst consensus remains “Moderate Buy,” with an average target of $75.07.
• Karman reported quarterly revenue of $182.06 million, up 58.2% year over year, and earnings of $0.14 per share, exceeding estimates by $0.01.
• The stock has declined substantially from its 12-month high of $118.38 and currently trades at a high forward valuation, with a price-to-earnings ratio of 137.28; meanwhile, a company director purchased 27,000 shares worth about $1.01 million.

Karman (NYSE:KRMN - Get Free Report) had its price objective dropped by equities researchers at KeyCorp from $100.00 to $65.00 in a research report issued on Monday, Benzinga reports. The firm currently has an "overweight" rating on the stock. KeyCorp's target price indicates a potential upside of 63.28% from the company's current price.

Other equities research analysts also recently issued reports about the stock. Guggenheim started coverage on shares of Karman in a research report on Monday, September 14th. They set a "buy" rating and a $63.00 target price on the stock. Needham & Company LLC reduced their target price on Karman from $125.00 to $80.00 and set a "buy" rating on the stock in a report on Friday, August 7th. Royal Bank Of Canada decreased their target price on shares of Karman from $70.00 to $60.00 and set an "outperform" rating for the company in a research report on Wednesday, October 28th. Truist Financial dropped their price target on shares of Karman from $118.00 to $85.00 and set a "buy" rating on the stock in a research report on Thursday, August 13th. Finally, Piper Sandler reduced their price objective on shares of Karman from $91.00 to $59.00 and set an "overweight" rating on the stock in a research note on Friday, October 23rd. 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 given a Sell rating to the stock. Based on data from MarketBeat.com, Karman presently has a consensus rating of "Moderate Buy" and an average price target of $75.07.

Karman Price Performance

Karman stock opened at $39.81 on Monday. The stock has a 50-day moving average price of $37.11 and a two-hundred day moving average price of $64.25. Karman has a 12 month low of $29.34 and a 12 month high of $118.38. The company has a market capitalization of $5.28 billion, a PE ratio of 137.28 and a beta of 0.44. The company has a current ratio of 3.56, a quick ratio of 3.40 and a debt-to-equity ratio of 2.01.

Karman (NYSE:KRMN - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.01. Karman had a return on equity of 15.54% and a net margin of 6.31%. The company had revenue of $182.06 million for the quarter. During the same quarter last year, the firm posted $0.10 earnings per share. The business's revenue for the quarter was up 58.2% on a year-over-year basis. Analysts expect that Karman will post 0.59 EPS for the current year.

Insider Transactions at Karman

In other Karman news, Director David Stinnett purchased 27,000 shares of the company's stock in a transaction on Wednesday, September 16th. The shares were purchased at an average cost of $37.32 per share, with a total value of $1,007,640.00. Following the completion of the purchase, the director owned 3,530,395 shares in the company, valued at $131,754,341.40. This 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 the SEC website. Company insiders own 5.77% of the company's stock.

Institutional Investors Weigh In On Karman

A number of large investors have recently bought and sold shares of KRMN. Grandeur Peak Global Advisors LLC increased its stake in Karman by 98.4% during the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 59,025 shares of the company's stock valued at $2,947,000 after purchasing an additional 29,281 shares in the last quarter. Readystate Asset Management LP acquired a new position in shares of Karman during the second quarter valued at about $5,675,000. Vontobel Holding Ltd. increased its position in shares of Karman by 53.3% during the third quarter. Vontobel Holding Ltd. now owns 131,881 shares of the company's stock worth $4,276,000 after acquiring an additional 45,847 shares in the last quarter. Wellington Management Group LLP bought a new stake in shares of Karman during the second quarter worth about $16,086,000. Finally, Bouvel Investment Partners LLC bought a new stake in shares of Karman during the third quarter worth about $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.

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