Karman Holdings Inc. $KRMN Shares Bought by Amundi

Key Points

• Amundi increased its Karman Holdings stake by 44.6% in the first quarter, purchasing 158,068 additional shares for a total holding of 512,231 shares worth approximately $41 million. Several other institutional investors also increased or initiated positions.
• Analysts remain broadly positive, with Karman receiving a “Moderate Buy” consensus rating and an average price target of $102, although targets range from $37 to $125.
• Karman’s latest quarterly results exceeded expectations: earnings per share came in at $0.11 versus $0.08 expected, while revenue rose 51% year over year to $151.21 million. Shares opened at $47.95, near the company’s 52-week low of $43.68.

Amundi boosted its holdings in shares of Karman Holdings Inc. (NYSE:KRMN - Free Report) by 44.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 512,231 shares of the company's stock after buying an additional 158,068 shares during the quarter. Amundi owned 0.39% of Karman worth $41,004,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of KRMN. California State Teachers Retirement System increased its stake in shares of Karman by 23.4% in the first quarter. California State Teachers Retirement System now owns 61,105 shares of the company's stock worth $4,891,000 after acquiring an additional 11,597 shares during the period. Royal Bank of Canada grew its position in Karman by 17.9% during the 1st quarter. Royal Bank of Canada now owns 101,236 shares of the company's stock worth $8,104,000 after purchasing an additional 15,357 shares during the period. Ranger Investment Management L.P. raised its stake in shares of Karman by 12.8% during the 1st quarter. Ranger Investment Management L.P. now owns 297,540 shares of the company's stock valued at $23,818,000 after buying an additional 33,786 shares during the last quarter. Rokos Capital Management LLP purchased a new position in shares of Karman during the 1st quarter valued at about $35,261,000. Finally, Empowered Funds LLC acquired a new position in shares of Karman in the 1st quarter valued at about $11,958,000.

Wall Street Analysts Forecast Growth

KRMN has been the subject of several recent research reports. Weiss Ratings cut Karman from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday, June 29th. Citigroup lowered their price objective on Karman from $97.00 to $76.00 and set a "buy" rating on the stock in a research report on Wednesday, July 1st. Evercore set a $100.00 price objective on shares of Karman in a research note on Wednesday, May 13th. Needham & Company LLC reissued a "buy" rating and issued a $125.00 price target on shares of Karman in a research note on Thursday, April 9th. Finally, BWS Financial reissued a "sell" rating and issued a $37.00 price target on shares of Karman in a report on Monday, May 18th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $102.00.

Karman Stock Performance

NYSE KRMN opened at $47.95 on Monday. The company has a market cap of $6.36 billion, a PE ratio of 208.50 and a beta of 0.56. The stock's 50 day simple moving average is $50.62 and its 200-day simple moving average is $74.78. Karman Holdings Inc. has a 1-year low of $43.68 and a 1-year high of $118.38. The company has a debt-to-equity ratio of 2.08, a current ratio of 3.53 and a quick ratio of 3.38.

Karman (NYSE:KRMN - Get Free Report) last issued its quarterly earnings results on Tuesday, May 12th. The company reported $0.11 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 firm had revenue of $151.21 million during the quarter, compared to analysts' expectations of $150.19 million. During the same period in the previous year, the business earned $0.05 earnings per share. The firm's revenue for the quarter was up 51.0% on a year-over-year basis. As a group, equities research analysts anticipate that Karman Holdings Inc. will post 0.58 EPS for the current fiscal year.

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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