Jennison Associates LLC Acquires Shares of 171,757 Karman Holdings Inc. (NYSE:KRMN)

Jennison Associates LLC acquired a new stake in Karman Holdings Inc. (NYSE:KRMN - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 171,757 shares of the company's stock, valued at approximately $5,740,000. Jennison Associates LLC owned about 0.13% of Karman at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA bought a new stake in shares of Karman in the first quarter valued at about $33,985,000. Bank of New York Mellon Corp bought a new stake in shares of Karman in the first quarter valued at about $22,515,000. TimesSquare Capital Management LLC bought a new stake in shares of Karman in the first quarter valued at about $14,891,000. Stephens Investment Management Group LLC bought a new stake in shares of Karman in the first quarter valued at about $8,740,000. Finally, Caas Capital Management LP bought a new stake in shares of Karman in the first quarter valued at about $3,192,000.

Karman Price Performance

Shares of NYSE KRMN opened at $55.72 on Monday. The company has a debt-to-equity ratio of 1.15, a current ratio of 3.34 and a quick ratio of 3.23. Karman Holdings Inc. has a 12 month low of $25.02 and a 12 month high of $57.32. The business's 50-day simple moving average is $46.15.

Karman (NYSE:KRMN - Get Free Report) last issued its earnings results on Tuesday, May 13th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.02 by $0.03. The business had revenue of $100.12 million for the quarter, compared to analyst estimates of $95.40 million. Karman's revenue for the quarter was up 20.6% compared to the same quarter last year.

Analyst Ratings Changes

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

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