Karman Holdings Inc. $KRMN Shares Sold by Comerica Bank

Key Points

• Comerica Bank cut its stake in Karman by 19.8% in Q4, selling 16,310 shares and ending the period with 66,086 shares valued at about $4.84 million.
• Karman's latest quarter delivered $0.11 EPS (in line with estimates) and revenue of $134.49 million, a 47.5% year-over-year increase, while analysts expect about $0.62 EPS for the current year.
• The stock opened at $65.37 (down 3.8%), has a market cap of $8.66 billion and a very high P/E of 502.85, and carries a consensus rating of "Moderate Buy" with an average price target of $117.10.

Comerica Bank lowered its position in shares of Karman Holdings Inc. (NYSE:KRMN - Free Report) by 19.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 66,086 shares of the company's stock after selling 16,310 shares during the period. Comerica Bank's holdings in Karman were worth $4,835,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Robert Wood Johnson Foundation acquired a new position in shares of Karman in the third quarter worth about $70,488,000. Congress Asset Management Co. acquired a new position in shares of Karman in the fourth quarter worth about $24,212,000. Federated Hermes Inc. acquired a new position in shares of Karman in the third quarter worth about $2,055,000. TimesSquare Capital Management LLC lifted its stake in shares of Karman by 361.7% in the third quarter. TimesSquare Capital Management LLC now owns 1,546,905 shares of the company's stock worth $111,687,000 after acquiring an additional 1,211,845 shares in the last quarter. Finally, Mass General Brigham Inc acquired a new position in shares of Karman in the fourth quarter worth about $114,295,000.

Karman Stock Down 3.8%

Shares of Karman stock opened at $65.37 on Friday. The company has a current ratio of 3.29, a quick ratio of 3.17 and a debt-to-equity ratio of 1.50. The business's 50 day simple moving average is $88.66 and its 200-day simple moving average is $84.15. The stock has a market capitalization of $8.66 billion, a price-to-earnings ratio of 502.85 and a beta of 0.69. Karman Holdings Inc. has a twelve month low of $36.11 and a twelve month high of $118.38.

Karman (NYSE:KRMN - Get Free Report) last announced its quarterly earnings results on Wednesday, March 25th. The company reported $0.11 earnings per share for the quarter, hitting analysts' consensus estimates of $0.11. The business had revenue of $134.49 million for the quarter. Karman had a return on equity of 13.15% and a net margin of 3.68%.The company's revenue for the quarter was up 47.5% on a year-over-year basis. Equities research analysts forecast that Karman Holdings Inc. will post 0.62 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on KRMN. Robert W. Baird upped their price objective on Karman from $115.00 to $135.00 and gave the company an "outperform" rating in a research note on Friday, March 20th. BWS Financial restated a "sell" rating and set a $37.00 price objective on shares of Karman in a research note on Friday, March 27th. Evercore upped their price objective on Karman from $110.00 to $125.00 and gave the company an "outperform" rating in a research note on Thursday, January 22nd. Weiss Ratings cut Karman from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday, April 24th. Finally, Needham & Company LLC restated a "buy" rating and set a $125.00 price objective on shares of Karman in a research note on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Karman has a consensus rating of "Moderate Buy" and an average price target of $117.10.

Karman Company 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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