Brokerages Set Karman Holdings Inc. (NYSE:KRMN) Target Price at $49.25

Key Points

• Karman Holdings Inc. (NYSE:KRMN) has received an average rating of "Buy" from six research firms, with a consensus price target of $49.25.
• Insider sales included CFO Michael Willis and COO Jonathan Beaudoin, who each sold 100,000 and 80,000 shares respectively, both transactions leading to a decrease in their ownership stakes.
• Despite a 35.3% revenue increase year-over-year, Karman missed earnings expectations with $0.10 earnings per share (EPS), slightly lower than the consensus estimate of $0.11.

Shares of Karman Holdings Inc. (NYSE:KRMN - Get Free Report) have earned an average recommendation of "Buy" from the six analysts that are currently covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $50.75.

Several research firms recently issued reports on KRMN. Robert W. Baird increased their target price on Karman from $40.00 to $50.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 14th. Citigroup reaffirmed a "buy" rating and issued a $58.00 price objective (up from $46.50) on shares of Karman in a research note on Monday, June 9th. Finally, Royal Bank Of Canada raised their price objective on Karman from $55.00 to $57.00 and gave the company an "outperform" rating in a research note on Friday.

Insider Transactions at Karman

In other news, COO Jonathan Beaudoin sold 80,000 shares of Karman stock in a transaction on Friday, July 25th. The stock was sold at an average price of $49.00, for a total value of $3,920,000.00. Following the transaction, the chief operating officer directly owned 740,861 shares in the company, valued at approximately $36,302,189. This trade represents a 9.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Stephanie Sawhill sold 62,000 shares of Karman stock in a transaction on Friday, July 25th. The shares were sold at an average price of $49.00, for a total value of $3,038,000.00. Following the completion of the transaction, the insider owned 566,939 shares in the company, valued at $27,780,011. This represents a 9.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,865,968 shares of company stock valued at $1,169,432,432.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Global Trust Asset Management LLC acquired a new stake in shares of Karman in the 2nd quarter worth $50,000. Penserra Capital Management LLC acquired a new stake in shares of Karman in the 2nd quarter worth $95,000. Amalgamated Bank acquired a new stake in shares of Karman in the 2nd quarter worth $100,000. SBI Securities Co. Ltd. acquired a new stake in shares of Karman in the 1st quarter worth $107,000. Finally, US Bancorp DE acquired a new stake in Karman during the 1st quarter worth about $124,000.

Karman Stock Down 0.7%

Karman stock traded down $0.33 during mid-day trading on Friday, reaching $45.45. 287,944 shares of the stock traded hands, compared to its average volume of 1,169,214. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.23 and a current ratio of 3.34. Karman has a 12-month low of $25.02 and a 12-month high of $57.31. The firm's 50-day simple moving average is $48.36.

Karman (NYSE:KRMN - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.10 EPS for the quarter, missing analysts' consensus estimates of $0.11 by ($0.01). The firm's quarterly revenue was up 35.3% compared to the same quarter last year.

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.