Karman (NYSE:KRMN) Director Purchases 275 Shares

Key Points

• Director Stephen Twitty purchased 275 Karman shares at an average price of $36.79, investing $10,117.25 and increasing his direct ownership by 11.64% to 2,638 shares.
• Karman stock opened at $35.27, down 4.5%, and remains well below its 52-week high of $118.38. The company has a $4.67 billion market capitalization and trades at a price-to-earnings ratio of 121.61.
• Karman reported quarterly revenue growth of 58.2% year over year and EPS of $0.14, slightly above estimates. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $89.45, although several firms recently lowered their targets.

Karman Holdings Inc. (NYSE:KRMN - Get Free Report) Director Stephen Twitty acquired 275 shares of Karman stock in a transaction that occurred on Wednesday, September 16th. The shares were purchased at an average price of $36.79 per share, for a total transaction of $10,117.25. Following the completion of the purchase, the director directly owned 2,638 shares of the company's stock, valued at $97,052.02. The trade was a 11.64% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Karman Stock Down 4.5%

KRMN stock opened at $35.27 on Friday. The company has a debt-to-equity ratio of 2.01, a current ratio of 3.56 and a quick ratio of 3.40. Karman Holdings Inc. has a 1-year low of $33.99 and a 1-year high of $118.38. The firm has a fifty day moving average price of $48.12 and a two-hundred day moving average price of $63.33. The firm has a market cap of $4.67 billion, a price-to-earnings ratio of 121.61 and a beta of 0.47.

Karman (NYSE:KRMN - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.13 by $0.01. Karman had a net margin of 6.31% and a return on equity of 15.54%. The company had revenue of $182.06 million for the quarter. During the same quarter in the previous year, the business posted $0.10 earnings per share. The company's quarterly revenue was up 58.2% compared to the same quarter last year. Research analysts predict that Karman Holdings Inc. will post 0.59 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on KRMN shares. Guggenheim started coverage on Karman in a research note on Monday. They issued a "buy" rating and a $63.00 target price for the company. Needham & Company LLC dropped their price target on Karman from $125.00 to $80.00 and set a "buy" rating on the stock in a research report on Friday, August 7th. Royal Bank Of Canada cut their price target on Karman from $100.00 to $85.00 and set an "outperform" rating on the stock in a report on Friday, July 24th. Piper Sandler restated an "overweight" rating and set a $91.00 price objective (down from $114.00) on shares of Karman in a research report on Friday, August 7th. Finally, Weiss Ratings downgraded Karman from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, September 10th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $89.45.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. HBK Investments L P acquired a new stake in shares of Karman in the second quarter valued at approximately $998,000. Tidal Investments LLC boosted its position in shares of Karman by 78.1% during the second quarter. Tidal Investments LLC now owns 29,199 shares of the company's stock worth $1,458,000 after buying an additional 12,807 shares during the period. Engineers Gate Manager LP bought a new position in Karman in the 2nd quarter worth approximately $470,000. NewEdge Advisors LLC grew its holdings in Karman by 163.3% in the 2nd quarter. NewEdge Advisors LLC now owns 3,112 shares of the company's stock worth $155,000 after buying an additional 1,930 shares in the last quarter. Finally, Arizona State Retirement System increased its position in Karman by 13.2% in the 2nd quarter. Arizona State Retirement System now owns 16,456 shares of the company's stock valued at $821,000 after acquiring an additional 1,915 shares during the period.

About Karman

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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