Citigroup Forecasts Strong Price Appreciation for Karman (NYSE:KRMN) Stock

Key Points

• Citigroup raised Karman’s price target to $78 from $76 and maintained a “buy” rating, implying 33.04% upside from the prior close.
• Analyst sentiment remains broadly positive, with a MarketBeat consensus rating of “Moderate Buy” and an average price target of $95.40, despite several firms recently cutting their targets.
• Karman reported quarterly EPS of $0.14, beating 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 increased by Citigroup from $76.00 to $78.00 in a research report issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the stock. Citigroup's price target would indicate a potential upside of 33.04% from the company's previous close.

A number of other research firms have also weighed in on KRMN. Truist Financial raised shares of Karman to a "strong-buy" rating in a research note on Friday, May 1st. KeyCorp lowered their target price on shares of Karman from $122.00 to $100.00 and set an "overweight" rating on the stock in a report on Wednesday, May 20th. Weiss Ratings downgraded Karman from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, June 29th. Royal Bank Of Canada lowered their price target on Karman from $100.00 to $85.00 and set an "outperform" rating for the company in a research report on Friday, July 24th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $91.00 target price (down from $114.00) on shares of Karman in a report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Karman has a consensus rating of "Moderate Buy" and a consensus target price of $95.40.

Karman Stock Up 0.7%

Shares of NYSE:KRMN opened at $58.63 on Monday. 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 has a 52-week low of $43.68 and a 52-week high of $118.38. The business's 50 day simple moving average is $49.86 and its two-hundred day simple moving average is $72.89. The firm has a market cap of $7.77 billion, a P/E ratio of 203.51 and a beta of 0.56.

Karman (NYSE:KRMN - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.13 by $0.01. Karman had a return on equity of 15.54% and a net margin of 6.31%.The company had revenue of $182.06 million for the quarter. During the same period in the previous year, the company earned $0.10 earnings per share. Karman's revenue for the quarter was up 58.2% compared to the same quarter last year. As a group, research analysts forecast that Karman will post 0.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KRMN. Millennium Management LLC bought a new position in shares of Karman during the 1st quarter valued at approximately $10,199,000. Goldman Sachs Group Inc. bought a new stake in shares of Karman in the 1st quarter worth approximately $17,371,000. Jane Street Group LLC purchased a new position in Karman in the first quarter valued at approximately $532,000. Rhumbline Advisers purchased a new position in Karman in the second quarter valued at approximately $1,316,000. Finally, New York State Common Retirement Fund bought a new position in Karman during the second quarter valued at $554,000.

About Karman

We specialize in the upfront design, testing, manufacturing, and sale of mission-critical systems for existing and emerging missile and defense, and space programs. Our integrated payload protection, propulsion, and interstage system solutions are deployed across a wide variety of existing and emerging programs supporting important Department of Defense (“DoD”) and space sector initiatives. We estimate that no single program accounted for more than 10% of sales for the nine months ended September 30, 2024 or the twelve months ended December 31, 2023, with revenue from over 100 active programs supporting current production and next-generation space, missile, hypersonic, and defense applications.

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