Fifth Third Bancorp Raises Holdings in Karman Holdings Inc. $KRMN

Key Points

• Fifth Third Bancorp dramatically increased its stake in Karman Holdings, boosting holdings by 38,874.1% in the first quarter to 67,815 shares valued at about $5.43 million.
• Karman’s latest earnings topped expectations, with Q1 EPS of $0.11 versus $0.08 expected and revenue of $151.21 million, up 51% year over year.
• Wall Street remains cautiously positive on KRMN overall, with a consensus Moderate Buy rating and an average target price of $103.50, though analyst views range from strong buy to sell.

Fifth Third Bancorp raised its stake in shares of Karman Holdings Inc. (NYSE:KRMN - Free Report) by 38,874.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 67,815 shares of the company's stock after acquiring an additional 67,641 shares during the period. Fifth Third Bancorp owned approximately 0.05% of Karman worth $5,429,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Millennium Management LLC purchased a new stake in shares of Karman during the first quarter worth $10,199,000. Goldman Sachs Group Inc. acquired a new position in Karman during the 1st quarter worth approximately $17,371,000. Jane Street Group LLC purchased a new stake in shares of Karman in the 1st quarter valued at approximately $532,000. Rhumbline Advisers purchased a new stake in shares of Karman in the 2nd quarter valued at approximately $1,316,000. Finally, New York State Common Retirement Fund acquired a new stake in shares of Karman in the 2nd quarter valued at $554,000.

Karman Stock Performance

Shares of KRMN stock opened at $46.34 on Friday. The stock has a fifty day moving average price of $53.92 and a 200 day moving average price of $77.60. The stock has a market cap of $6.14 billion, a PE ratio of 201.51 and a beta of 0.51. Karman Holdings Inc. has a 1 year low of $44.00 and a 1 year high of $118.38. The company has a debt-to-equity ratio of 2.08, a quick ratio of 3.38 and a current ratio of 3.53.

Karman (NYSE:KRMN - Get Free Report) last released its quarterly earnings results on Tuesday, May 12th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.03. Karman had a return on equity of 14.94% and a net margin of 5.73%.The business had revenue of $151.21 million during the quarter, compared to the consensus estimate of $150.19 million. During the same quarter in the previous year, the company posted $0.05 EPS. The business's revenue was up 51.0% on a year-over-year basis. Sell-side analysts forecast that Karman Holdings Inc. will post 0.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on KRMN. Weiss Ratings downgraded shares of Karman from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, June 29th. Piper Sandler decreased their price target on Karman from $127.00 to $114.00 and set an "overweight" rating for the company in a report on Tuesday, May 19th. BWS Financial reaffirmed a "sell" rating and set a $37.00 price objective on shares of Karman in a research report on Monday, May 18th. Evercore set a $100.00 price objective on Karman in a report on Wednesday, May 13th. Finally, Robert W. Baird raised their target price on Karman from $115.00 to $135.00 and gave the stock an "outperform" rating in a research report on Friday, March 20th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Karman has a consensus rating of "Moderate Buy" and an average target price of $103.50.

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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