Freemont Management S.A. Purchases Shares of 27,200 Karman Holdings Inc. $KRMN

Key Points

• Freemont Management S.A. opened a new position in Karman Holdings, buying 27,200 shares worth about $2.18 million in the first quarter.
• Despite recent buying by several hedge funds, Karman stock fell 2.3% and was trading at $46.34, near its 52-week low of $44.00 and well below its 52-week high of $118.38.
• Karman posted better-than-expected earnings for the quarter, with EPS of $0.11 versus $0.08 expected and revenue up 51% year over year; analysts currently rate the stock a Moderate Buy with a consensus price target of $103.50.

Freemont Management S.A. acquired a new position in Karman Holdings Inc. (NYSE:KRMN - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 27,200 shares of the company's stock, valued at approximately $2,177,000.

Several other hedge funds have also recently made changes to their positions in the business. AustralianSuper Pty Ltd bought a new stake in Karman in the fourth quarter valued at $33,679,000. UBS Group AG raised its holdings in Karman by 103.7% in the 4th quarter. UBS Group AG now owns 926,976 shares of the company's stock worth $67,827,000 after purchasing an additional 471,894 shares in the last quarter. Congress Asset Management Co. bought a new position in Karman in the 4th quarter worth $24,212,000. Aubrey Capital Management Ltd purchased a new stake in shares of Karman in the 4th quarter worth about $3,687,000. Finally, Mass General Brigham Inc purchased a new stake in shares of Karman in the 4th quarter worth about $114,295,000.

Karman Stock Down 2.3%

Shares of Karman stock opened at $46.34 on Friday. The company has a debt-to-equity ratio of 2.08, a current ratio of 3.53 and a quick ratio of 3.38. The company has a 50-day moving average of $53.92 and a 200 day moving average of $77.60. The firm has a market cap of $6.14 billion, a price-to-earnings 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.

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

Wall Street Analysts Forecast Growth

KRMN has been the topic of several research analyst reports. BWS Financial reiterated a "sell" rating and set a $37.00 price target on shares of Karman in a research report on Monday, May 18th. Needham & Company LLC restated a "buy" rating and issued a $125.00 price objective on shares of Karman in a report on Thursday, April 9th. Evercore set a $100.00 price objective on Karman in a research report on Wednesday, May 13th. Citigroup decreased their target price on Karman from $97.00 to $76.00 and set a "buy" rating for the company in a research report on Wednesday, July 1st. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $100.00 target price on shares of Karman in a research note on Tuesday, June 2nd. 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $103.50.

Karman Profile

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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