Karman (NYSE:KRMN) Upgraded by Guggenheim to "Strong-Buy" Rating

Key Points

• Guggenheim upgraded Karman to “Strong Buy,” adding to a generally positive analyst outlook. MarketBeat reports a consensus rating of “Moderate Buy” and an average price target of $89.45.
• Karman shares opened at $37.03, down 1.2%, and remain well below their 52-week high of $118.38. The stock has a $4.91 billion market capitalization and trades at a P/E ratio of 127.69.
• The aerospace and defense company reported 58.2% year-over-year revenue growth to $182.06 million and quarterly EPS of $0.14, beating analyst expectations by $0.01.

Karman (NYSE:KRMN - Get Free Report) was upgraded by analysts at Guggenheim to a "strong-buy" rating in a report issued on Monday, Zacks reports.

KRMN has been the topic of several other reports. Citigroup boosted their target price on shares of Karman from $76.00 to $78.00 and gave the company a "buy" rating in a report on Monday, August 10th. Royal Bank Of Canada reduced their price target on shares of Karman from $100.00 to $85.00 and set an "outperform" rating on the stock in a research report on Friday, July 24th. BWS Financial reiterated a "sell" rating and issued a $37.00 price objective on shares of Karman in a report on Monday, August 10th. Needham & Company LLC lowered their price objective on Karman from $125.00 to $80.00 and set a "buy" rating for the company in a research report on Friday, August 7th. Finally, Piper Sandler reissued an "overweight" rating and set a $91.00 target price (down from $114.00) on shares of Karman in a research note on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $89.45.

Karman Stock Down 1.2%

Shares of NYSE:KRMN opened at $37.03 on Monday. Karman has a 52-week low of $33.99 and a 52-week high of $118.38. The stock has a market cap of $4.91 billion, a P/E ratio of 127.69 and a beta of 0.47. The business has a fifty day moving average of $48.41 and a two-hundred day moving average of $63.70. The company has a quick ratio of 3.40, a current ratio of 3.56 and a debt-to-equity ratio of 2.01.

Karman (NYSE:KRMN - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.14 EPS 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 business had revenue of $182.06 million for the quarter. During the same quarter in the prior year, the firm earned $0.10 EPS. The firm's revenue was up 58.2% on a year-over-year basis. On average, research analysts expect that Karman will post 0.59 earnings per share for the current year.

Institutional Investors Weigh In On Karman

A number of institutional investors have recently made changes to their positions in KRMN. Falcon Wealth Planning purchased a new position in Karman in the 1st quarter valued at approximately $205,684,000. Trustees of the University of Pennsylvania purchased a new stake in shares of Karman during the fourth quarter worth $142,869,000. Van ECK Associates Corp raised its stake in shares of Karman by 125.3% in the fourth 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 shares of Karman in the first quarter valued at $35,261,000. Finally, Wellington Management Group LLP purchased a new position in Karman in the second quarter valued at $16,086,000.

About Karman

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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