Karman (NYSE:KRMN) Upgraded at Barclays

Key Points

• Barclays upgraded Karman to “strong buy,” adding to an analyst consensus rating of “Buy.” Analysts’ average price target is $87.33, although several firms recently lowered their targets.
• Karman shares rose 3.4% to open at $32.77, substantially below the 52-week high of $118.38. The company recently exceeded quarterly EPS estimates, reporting $0.14 EPS and $182.1 million in revenue, up 58.2% year over year.
• Director David Stinnett purchased 27,000 shares for approximately $1.01 million, while institutional investors also increased or initiated positions in the aerospace and defense components manufacturer.

Karman (NYSE:KRMN - Get Free Report) was upgraded by Barclays to a "strong-buy" rating in a report released on Friday, Zacks reports.

Several other analysts also recently issued reports on KRMN. Needham & Company LLC cut their price target on Karman from $125.00 to $80.00 and set a "buy" rating on the stock in a report on Friday, August 7th. Piper Sandler reiterated an "overweight" rating and issued a $91.00 target price (down from $114.00) on shares of Karman in a research note on Friday, August 7th. 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 report on Thursday, August 13th. Citigroup upped their price target on shares of Karman from $76.00 to $78.00 and gave the stock a "buy" rating in a research report on Monday, August 10th. Finally, Guggenheim started coverage on shares of Karman in a report on Monday, September 14th. They issued a "buy" rating and a $63.00 price objective on the stock. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $87.33.

Karman Trading Up 3.4%

Karman stock opened at $32.77 on Friday. The company has a market cap of $4.34 billion, a P/E ratio of 112.99 and a beta of 0.64. Karman has a 1 year low of $30.87 and a 1 year high of $118.38. The firm's 50-day moving average is $43.61 and its 200-day moving average is $56.09. The company has a debt-to-equity ratio of 2.01, a quick ratio of 3.40 and a current ratio of 3.56.

Karman (NYSE:KRMN - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.13 by $0.01. The firm had revenue of $182.06 million for the quarter. Karman had a net margin of 6.31% and a return on equity of 15.54%. The business's revenue was up 58.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.10 EPS. On average, equities 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 purchased 27,000 shares of Karman stock in a transaction on Wednesday, September 16th. The stock was bought at an average price of $37.32 per share, for a total transaction of $1,007,640.00. Following the transaction, the director owned 3,530,395 shares of the company's stock, valued at $131,754,341.40. The trade was a 0.77% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 5.77% of the stock is owned by insiders.

Institutional Investors Weigh In On Karman

Several institutional investors have recently bought and sold shares of the stock. GK Wealth Management LLC bought a new stake in shares of Karman during the 3rd quarter worth about $65,000. Legacy Wealth Asset Management LLC boosted its holdings in shares of Karman by 83.8% in the third quarter. Legacy Wealth Asset Management LLC now owns 7,374 shares of the company's stock valued at $239,000 after acquiring an additional 3,361 shares in the last quarter. Congress Asset Management Co. increased its stake in shares of Karman by 23.8% during the third quarter. Congress Asset Management Co. now owns 1,068,811 shares of the company's stock valued at $34,651,000 after acquiring an additional 205,503 shares during the period. Moody National Bank Trust Division bought a new stake in Karman during the third quarter worth approximately $537,000. Finally, HBK Investments L P bought a new stake in Karman during the second quarter worth approximately $998,000.

Karman Company Profile

Karman NYSE: KRMN, through its subsidiaries, provides engineered components and manufacturing services for the aerospace and defense industries. The company focuses on mission-critical products used in space launch vehicles, missile systems, hypersonic platforms and other high-performance aerospace applications.

Its capabilities include the design and production of composite and metallic structures, precision-machined components, complex assemblies, thermal protection products and other specialized hardware.

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