Karman (NYSE:KRMN) Stock Price Target Lowered at Royal Bank Of Canada

Key Points

• Royal Bank of Canada lowered Karman’s price target from $70 to $60 while maintaining an “outperform” rating, implying approximately 63% upside from the stock’s $36.70 price.
• Despite multiple recent target reductions, analysts remain broadly positive: Karman has a consensus “Moderate Buy” rating and an average price target of $77.57.
• Karman reported quarterly earnings of $0.14 per share, exceeding estimates by $0.01, while revenue rose 58.2% year over year to $182.06 million.

Karman (NYSE:KRMN - Get Free Report) had its price objective decreased by equities research analysts at Royal Bank Of Canada from $70.00 to $60.00 in a note issued to investors on Wednesday, 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 63.47% from the stock's current price.

KRMN has been the subject of a number of other reports. Truist Financial reduced their price target on shares of Karman from $118.00 to $85.00 and set a "buy" rating for the company in a research report on Thursday, August 13th. Piper Sandler dropped their price objective on Karman from $91.00 to $59.00 and set an "overweight" rating on the stock in a report on Friday. UBS Group set a $40.00 target price on Karman in a research report on Thursday, October 22nd. Oppenheimer assumed coverage on Karman in a report on Thursday, October 22nd. They issued an "outperform" rating and a $40.00 target price for the company. Finally, Needham & Company LLC decreased their target price on Karman from $125.00 to $80.00 and set a "buy" rating for the company in a research report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $77.57.

Karman Price Performance

Shares of KRMN traded down $1.03 during mid-day trading on Wednesday, reaching $36.70. The company's stock had a trading volume of 425,090 shares, compared to its average volume of 2,829,630. Karman has a 12-month low of $29.34 and a 12-month high of $118.38. The stock has a market cap of $4.86 billion, a PE ratio of 127.23 and a beta of 0.64. The company's 50 day moving average is $38.17 and its 200 day moving average is $65.22.

Karman (NYSE:KRMN - Get Free Report) last posted 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. The firm's revenue was up 58.2% compared to the same quarter last year. During the same period last year, the firm posted $0.10 EPS. As a group, sell-side analysts anticipate that Karman will post 0.59 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director David Stinnett purchased 27,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 16th. The stock was purchased at an average cost of $37.32 per share, with a total value of $1,007,640.00. Following the completion of the acquisition, the director directly 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 acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 5.77% of the company's stock.

Hedge Funds Weigh In On Karman

Large investors have recently bought and sold shares of the company. Parkside Financial Bank & Trust boosted its holdings in shares of Karman by 3,471.4% in the second quarter. Parkside Financial Bank & Trust now owns 500 shares of the company's stock valued at $25,000 after acquiring an additional 486 shares in the last quarter. CX Institutional acquired a new stake in Karman in the second quarter valued at about $28,000. Tsfg LLC acquired a new position in Karman during the 2nd quarter worth approximately $30,000. Pinnacle Wealth Planning Services Inc. acquired a new position in Karman during the 3rd quarter worth approximately $32,000. Finally, Hilltop National Bank increased its position in Karman by 87.8% during the 2nd quarter. Hilltop National Bank now owns 1,258 shares of the company's stock worth $63,000 after purchasing an additional 588 shares during the period.

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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