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

Key Points

• Royal Bank of Canada lowered Karman’s price target to $70 from $85 but maintained an “outperform” rating, implying roughly 96% upside from the reported $35.70 share price.
• Analyst sentiment remains positive overall, with Karman holding a “Moderate Buy” consensus rating and an average price target of $88.09, despite several recent target reductions.
• Karman exceeded quarterly earnings expectations with $0.14 in EPS versus $0.13 expected, while revenue rose 58.2% year over year to $182.06 million. Director David Stinnett also purchased 27,000 shares worth approximately $1.01 million.

Karman (NYSE:KRMN - Get Free Report) had its price target lowered by equities research analysts at Royal Bank Of Canada from $85.00 to $70.00 in a report released on Monday, Benzinga reports. The firm currently has an "outperform" rating on the stock. Royal Bank Of Canada's target price would indicate a potential upside of 96.11% from the company's previous close.

KRMN has been the subject of several other research reports. Truist Financial decreased their target price on Karman from $118.00 to $85.00 and set a "buy" rating for the company in a research report on Thursday, August 13th. Guggenheim started coverage on shares of Karman in a research report on Monday, September 14th. They issued a "buy" rating and a $63.00 price objective for the company. Needham & Company LLC reduced 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. Citigroup raised their price target on shares of Karman from $76.00 to $78.00 and gave the company a "buy" rating in a report on Monday, August 10th. Finally, Piper Sandler reissued an "overweight" rating and issued a $91.00 price objective (down from $114.00) on shares of Karman in a research report on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $88.09.

Karman Stock Up 0.0%

KRMN opened at $35.70 on Monday. Karman has a 12 month low of $32.20 and a 12 month high of $118.38. The business has a 50-day moving average of $46.61 and a two-hundred day moving average of $60.66. The company has a debt-to-equity ratio of 2.01, a current ratio of 3.56 and a quick ratio of 3.40. The stock has a market capitalization of $4.73 billion, a price-to-earnings ratio of 123.09 and a beta of 0.47.

Karman (NYSE:KRMN - Get Free Report) last issued its 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. The business had revenue of $182.06 million for the quarter. Karman had a return on equity of 15.54% and a net margin of 6.31%.The company's quarterly revenue was up 58.2% compared to the same quarter last year. During the same period last year, the business posted $0.10 earnings per share. On average, research analysts expect that Karman will post 0.59 earnings per share for the current year.

Insiders Place Their Bets

In other Karman news, Director David Stinnett bought 27,000 shares of the stock in a transaction on Wednesday, September 16th. The shares were bought at an average price of $37.32 per share, with a total value of $1,007,640.00. Following the purchase, the director directly owned 3,530,395 shares in the company, valued at $131,754,341.40. The trade was a 0.77% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 5.77% of the company's stock.

Institutional Investors Weigh In On Karman

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Falcon Wealth Planning acquired a new stake in shares of Karman in the first quarter worth about $205,684,000. Van ECK Associates Corp raised its stake in shares of Karman by 125.3% in the 4th quarter. Van ECK Associates Corp now owns 2,867,379 shares of the company's stock valued at $209,806,000 after acquiring an additional 1,594,518 shares in the last quarter. Rokos Capital Management LLP acquired a new stake in Karman in the 1st quarter worth approximately $35,261,000. Wellington Management Group LLP bought a new stake in Karman during the second quarter worth approximately $16,086,000. Finally, Norges Bank bought a new position in shares of Karman in the fourth quarter valued at approximately $23,117,000.

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.

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