Karman (NYSE:KRMN) Director Buys $1,007,640.00 in Stock

Key Points

• Director David Stinnett bought 27,000 Karman shares at an average price of $37.32, investing $1.01 million and increasing his stake by 0.77% to 3.53 million shares.
• Karman reported quarterly EPS of $0.14, topping estimates by $0.01, while revenue rose 58.2% year over year to $182.06 million.
• The stock opened at $35.27, near its 52-week low of $33.99; analysts maintain a consensus “Moderate Buy” rating with an average price target of $89.45, despite wide target revisions.

Karman Holdings Inc. (NYSE:KRMN - Get Free Report) Director David Stinnett bought 27,000 shares of the stock in a transaction that occurred on Wednesday, September 16th. The stock was bought at an average price of $37.32 per share, with a total value of $1,007,640.00. Following the completion of the acquisition, the director owned 3,530,395 shares of the company's stock, valued at $131,754,341.40. This trade represents a 0.77% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Karman Stock Performance

NYSE:KRMN opened at $35.27 on Friday. The company has a quick ratio of 3.40, a current ratio of 3.56 and a debt-to-equity ratio of 2.01. The company has a market cap of $4.67 billion, a P/E ratio of 121.61 and a beta of 0.47. Karman Holdings Inc. has a fifty-two week low of $33.99 and a fifty-two week high of $118.38. The firm's 50 day moving average is $48.12 and its two-hundred day moving average is $63.33.

Karman (NYSE:KRMN - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.01. The company had revenue of $182.06 million during the quarter. Karman had a net margin of 6.31% and a return on equity of 15.54%. The firm's quarterly revenue was up 58.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.10 earnings per share. Analysts expect that Karman Holdings Inc. will post 0.59 EPS for the current year.

Hedge Funds Weigh In On Karman

A number of institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its stake in shares of Karman by 889.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 386 shares of the company's stock valued at $28,000 after acquiring an additional 347 shares in the last quarter. Huntington National Bank purchased a new position in Karman in the fourth quarter valued at about $32,000. Parkside Financial Bank & Trust boosted its holdings in Karman by 3,471.4% in the second quarter. Parkside Financial Bank & Trust now owns 500 shares of the company's stock valued at $25,000 after purchasing an additional 486 shares during the last quarter. CX Institutional acquired a new stake in Karman during the 2nd quarter valued at approximately $28,000. Finally, Tsfg LLC purchased a new stake in Karman during the 2nd quarter worth approximately $30,000.

Wall Street Analyst Weigh In

Several equities research analysts have commented on KRMN shares. Royal Bank Of Canada dropped their price target on Karman from $100.00 to $85.00 and set an "outperform" rating for the company in a research note on Friday, July 24th. Truist Financial decreased their target price on Karman from $118.00 to $85.00 and set a "buy" rating for the company in a report on Thursday, August 13th. Guggenheim initiated coverage on shares of Karman in a report on Monday. They issued a "buy" rating and a $63.00 price target on the stock. BWS Financial reaffirmed a "sell" rating and set a $37.00 price target on shares of Karman in a research report on Monday, August 10th. Finally, Citigroup boosted their price objective on shares of Karman from $76.00 to $78.00 and gave the stock a "buy" rating in a research note on Monday, August 10th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $89.45.

Karman Company Profile

Karman is an aerospace and defense company that develops and manufactures mission-critical components, structures and systems for space and defense applications. Its offerings support launch vehicles, satellites, hypersonic systems and other advanced aerospace platforms.

The company provides capabilities across engineered metallic and composite structures, precision components, propulsion-related products and other specialized assemblies. Karman serves government and commercial aerospace customers involved in space launch, national security and defense programs.

Operating through a portfolio of aerospace and defense businesses, Karman combines design, engineering and manufacturing capabilities for complex, high-performance applications.

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