Karman (NYSE:KRMN) Price Target Raised to $80.00

Key Points

• Barclays raised its Karman price target from $79 to $80 and maintained an “overweight” rating, implying about 72% upside from the reported share price of $46.52.
• Analyst views are mixed: other firms recently cut their targets, while the overall consensus remains “Moderate Buy” with a $73.07 price target.
• Karman reported quarterly EPS of $0.19, beating the $0.16 estimate, and revenue rose 65.6% year over year to $201.62 million.

Karman (NYSE:KRMN - Get Free Report) had its price target hoisted by equities researchers at Barclays from $79.00 to $80.00 in a report released on Monday, Benzinga reports. The firm currently has an "overweight" rating on the stock. Barclays's price target points to a potential upside of 71.97% from the stock's current price.

A number of other brokerages have also recently commented on KRMN. Needham & Company LLC cut their target price on shares of Karman from $80.00 to $50.00 and set a "buy" rating on the stock in a report on Friday. Truist Financial decreased their price target on shares of Karman from $118.00 to $85.00 and set a "buy" rating for the company in a research note on Thursday, August 13th. KeyCorp lowered their price objective on shares of Karman from $100.00 to $65.00 and set an "overweight" rating on the stock in a research report on Monday, November 2nd. Weiss Ratings raised shares of Karman from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, October 8th. Finally, BWS Financial restated a "sell" rating and issued a $37.00 price objective on shares of Karman in a research note on Monday, August 10th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $73.07.

Karman Stock Performance

Shares of NYSE KRMN traded up $0.91 during trading hours on Monday, reaching $46.52. The stock had a trading volume of 542,962 shares, compared to its average volume of 2,883,177. The firm has a 50-day moving average of $35.93 and a 200-day moving average of $62.50. The firm has a market cap of $6.17 billion, a price-to-earnings ratio of 117.84 and a beta of 0.45. The company has a current ratio of 3.10, a quick ratio of 2.87 and a debt-to-equity ratio of 2.21. Karman has a fifty-two week low of $29.34 and a fifty-two week high of $118.38.

Karman (NYSE:KRMN - Get Free Report) last released its quarterly earnings results on Friday, November 6th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.16 by $0.03. Karman had a return on equity of 17.68% and a net margin of 7.54%. The company had revenue of $201.62 million for the quarter. During the same period last year, the firm earned $0.10 EPS. The company's quarterly revenue was up 65.6% on a year-over-year basis. Equities research analysts predict that Karman will post 0.63 earnings per share for the current year.

Insider Buying and Selling at Karman

In related 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 cost of $37.32 per share, for a total transaction of $1,007,640.00. Following the purchase, the director owned 3,530,395 shares of the company's stock, valued at $131,754,341.40. This trade represents a 0.77% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 5.77% of the company's stock.

Institutional Investors Weigh In On Karman

Hedge funds have recently modified their holdings of the stock. William Blair Investment Management LLC lifted its holdings in Karman by 87.4% in the third quarter. William Blair Investment Management LLC now owns 1,832,222 shares of the company's stock valued at $59,401,000 after acquiring an additional 854,760 shares during the period. Lido Advisors LLC grew its stake in shares of Karman by 104.2% during the 3rd quarter. Lido Advisors LLC now owns 19,130 shares of the company's stock worth $620,000 after purchasing an additional 473,007 shares during the period. Rokos Capital Management LLP acquired a new position in shares of Karman during the 1st quarter worth $35,261,000. Wellington Management Group LLP acquired a new position in shares of Karman during the 2nd quarter worth $16,086,000. Finally, Ranger Investment Management L.P. purchased a new position in shares of Karman in the 2nd quarter valued at about $13,902,000.

About Karman

Karman Holdings, Inc is an aerospace and defense company that designs and manufactures systems and components for missile and space programs. Its products support applications including propulsion, payload delivery, launch vehicles and spacecraft.

The company supplies mission-critical hardware such as rocket motor components, separation systems, structures and related assemblies. Its products are used by government and commercial customers across the United States and in international markets.

Karman brings together businesses with capabilities in engineering, manufacturing and testing for aerospace and defense applications.

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