Renaissance Capital LLC Takes Position in Karman Holdings Inc. $KRMN

Key Points

• Renaissance Capital LLC bought 32,365 shares of Karman (≈$2.37M) in Q4, making the stock 1.7% of its portfolio and its 21st largest holding.
• Karman reported Q quarter EPS of $0.11 (in line with estimates) and revenue of $134.5M, up 47.5% year-over-year, while the company trades with a market cap of $9.3B and an elevated PE of 539.6.
• Analyst sentiment is mostly positive with a consensus rating of Moderate Buy and a $117.10 target, though estimates and price targets vary widely (Baird $135, Piper Sandler $127, one sell at $37).

Renaissance Capital LLC acquired a new stake in Karman Holdings Inc. (NYSE:KRMN - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 32,365 shares of the company's stock, valued at approximately $2,368,000. Karman makes up 1.7% of Renaissance Capital LLC's portfolio, making the stock its 21st largest position.

Other large investors have also made changes to their positions in the company. GAMMA Investing LLC lifted its position in shares of Karman by 83.7% in the fourth quarter. GAMMA Investing LLC now owns 373 shares of the company's stock worth $27,000 after buying an additional 170 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new stake in shares of Karman in the third quarter worth about $29,000. Farther Finance Advisors LLC lifted its position in shares of Karman by 56.4% in the third quarter. Farther Finance Advisors LLC now owns 455 shares of the company's stock worth $33,000 after buying an additional 164 shares in the last quarter. Rakuten Securities Inc. lifted its position in shares of Karman by 28.5% in the fourth quarter. Rakuten Securities Inc. now owns 487 shares of the company's stock worth $36,000 after buying an additional 108 shares in the last quarter. Finally, Wexford Capital LP purchased a new stake in shares of Karman in the third quarter worth about $41,000.

Karman Trading Down 0.1%

Shares of KRMN stock opened at $70.14 on Monday. Karman Holdings Inc. has a 1 year low of $33.73 and a 1 year high of $118.38. The company has a debt-to-equity ratio of 1.50, a current ratio of 3.29 and a quick ratio of 3.17. The stock's 50 day simple moving average is $89.53 and its two-hundred day simple moving average is $84.44. The company has a market cap of $9.30 billion, a PE ratio of 539.57 and a beta of 2.58.

Karman (NYSE:KRMN - Get Free Report) last issued its quarterly earnings data on Wednesday, March 25th. The company reported $0.11 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.11. Karman had a return on equity of 13.15% and a net margin of 3.68%.The business had revenue of $134.49 million for the quarter. The business's revenue was up 47.5% compared to the same quarter last year. Research analysts predict that Karman Holdings Inc. will post 0.62 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Robert W. Baird boosted 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. Needham & Company LLC reiterated a "buy" rating and issued a $125.00 target price on shares of Karman in a research report on Thursday, April 9th. BWS Financial reiterated a "sell" rating and issued a $37.00 target price on shares of Karman in a research report on Friday, March 27th. Piper Sandler upgraded Karman from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $110.00 to $127.00 in a research report on Friday, March 6th. Finally, KeyCorp boosted their target price on Karman from $80.00 to $122.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $117.10.

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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