Oppenheimer Begins Coverage on Karman (NYSE:KRMN)

Key Points

• Oppenheimer initiated coverage of Karman with an “outperform” rating and a $40 price target, implying approximately 13.2% upside from the reported $35.34 share price.
• Analyst sentiment remains broadly positive, with Karman holding a consensus “Moderate Buy” rating and an average price target of $83.69, though several firms have recently lowered their targets.
• Karman reported quarterly EPS of $0.14, exceeding estimates by $0.01, while revenue rose 58.2% year over year to $182.06 million; a company director also purchased roughly $1.0 million of shares.

Oppenheimer assumed coverage on shares of Karman (NYSE:KRMN - Get Free Report) in a research note issued to investors on Thursday, Briefing.com reports. The firm set an "outperform" rating and a $40.00 price target on the stock. Oppenheimer's price objective would suggest a potential upside of 13.20% from the stock's current price.

Several other brokerages also recently commented on KRMN. Citigroup increased their price objective on shares of Karman from $76.00 to $78.00 and gave the company a "buy" rating in a research report on Monday, August 10th. Piper Sandler reaffirmed an "overweight" rating and issued a $91.00 target price (down from $114.00) on shares of Karman in a report on Friday, August 7th. Royal Bank Of Canada dropped their target price on shares of Karman from $85.00 to $70.00 and set an "outperform" rating on the stock in a research note on Monday, September 28th. Weiss Ratings upgraded shares of Karman from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, October 8th. Finally, Needham & Company LLC reduced their price target on shares of 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 issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $83.69.

Karman Trading Up 0.9%

Karman stock opened at $35.34 on Thursday. Karman has a 12 month low of $29.34 and a 12 month high of $118.38. The company has a market capitalization of $4.68 billion, a price-to-earnings ratio of 121.86 and a beta of 0.64. The business's fifty day simple moving average is $39.72 and its two-hundred day simple moving average is $52.72. The company has a current ratio of 3.56, a quick ratio of 3.40 and a debt-to-equity ratio of 2.01.

Karman (NYSE:KRMN - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.01. The firm had revenue of $182.06 million during the quarter. Karman had a return on equity of 15.54% and a net margin of 6.31%. Karman's revenue was up 58.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.10 earnings per share. As a group, equities analysts predict that Karman will post 0.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Karman news, Director David Stinnett acquired 27,000 shares of Karman stock in a transaction that occurred on Wednesday, September 16th. The stock was bought at an average cost of $37.32 per share, for a total transaction of $1,007,640.00. Following the acquisition, the director owned 3,530,395 shares of the company's stock, valued at $131,754,341.40. This represents a 0.77% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 5.77% of the company's stock.

Hedge Funds Weigh In On Karman

Several hedge funds and other institutional investors have recently bought and sold shares of KRMN. Janney Montgomery Scott LLC boosted its holdings in shares of Karman by 8.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 3,949 shares of the company's stock valued at $316,000 after acquiring an additional 297 shares during the last quarter. SBI Securities Co. Ltd. raised its holdings in shares of Karman by 15.8% during the third quarter. SBI Securities Co. Ltd. now owns 2,526 shares of the company's stock valued at $82,000 after purchasing an additional 345 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in Karman by 3,471.4% during the second quarter. Parkside Financial Bank & Trust now owns 500 shares of the company's stock valued at $25,000 after purchasing an additional 486 shares during the period. CX Institutional bought a new position in Karman during the second quarter valued at approximately $28,000. Finally, Hilltop National Bank boosted its holdings in Karman by 87.8% in the second 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 last quarter.

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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