Bank of New York Mellon Corp Takes $22.52 Million Position in Karman Holdings Inc. (NYSE:KRMN)

Bank of New York Mellon Corp acquired a new stake in shares of Karman Holdings Inc. (NYSE:KRMN - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 673,708 shares of the company's stock, valued at approximately $22,515,000. Bank of New York Mellon Corp owned about 0.51% of Karman as of its most recent filing with the Securities & Exchange Commission.

Karman Stock Performance

Shares of KRMN traded down $0.58 during trading hours on Friday, hitting $55.72. 2,782,268 shares of the company were exchanged, compared to its average volume of 1,213,450. The business's fifty day moving average is $46.15. The company has a quick ratio of 3.23, a current ratio of 3.34 and a debt-to-equity ratio of 1.15. Karman Holdings Inc. has a one year low of $25.02 and a one year high of $57.32.

Karman (NYSE:KRMN - Get Free Report) last released its quarterly earnings data on Tuesday, May 13th. The company reported $0.05 earnings per share for the quarter, beating analysts' consensus estimates of $0.02 by $0.03. The company had revenue of $100.12 million for the quarter, compared to analyst estimates of $95.40 million. The firm's revenue for the quarter was up 20.6% compared to the same quarter last year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Citigroup restated a "buy" rating and issued a $58.00 price objective (up from $46.50) on shares of Karman in a report on Monday, June 9th. Robert W. Baird raised their target price on shares of Karman from $40.00 to $50.00 and gave the company an "outperform" rating in a report on Wednesday, May 14th. Finally, Royal Bank Of Canada lifted their price objective on Karman from $44.00 to $51.00 and gave the company an "outperform" rating in a report on Thursday, July 3rd. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $49.25.

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.