Karman (NYSE:KRMN) Earns Overweight Rating from Piper Sandler

Key Points

• Piper Sandler reiterated its “overweight” rating on Karman but cut its price target from $114 to $91, implying 54.89% upside from the prior close.
• Analyst sentiment remains broadly positive, with Karman holding a “Moderate Buy” consensus rating and an average price target of $95.20, despite several recent target reductions.
• Karman’s latest quarter showed 58.2% year-over-year revenue growth to $182.06 million and adjusted earnings of $0.14 per share, slightly ahead of analyst expectations.

Karman (NYSE:KRMN - Get Free Report)'s stock had its "overweight" rating reiterated by stock analysts at Piper Sandler in a research report issued on Friday,Benzinga reports. They presently have a $91.00 price objective on the stock, down from their previous price objective of $114.00. Piper Sandler's price objective suggests a potential upside of 54.89% from the stock's previous close.

Several other equities analysts also recently weighed in on KRMN. Weiss Ratings downgraded shares of Karman from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, June 29th. Evercore set a $100.00 price target on shares of Karman in a research report on Wednesday, May 13th. Needham & Company LLC dropped their price objective on shares of Karman from $125.00 to $80.00 and set a "buy" rating for the company in a research note on Friday. Truist Financial upgraded Karman to a "strong-buy" rating in a research report on Friday, May 1st. Finally, Royal Bank Of Canada reduced their target price on Karman from $100.00 to $85.00 and set an "outperform" rating on the stock in a research note on Friday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $95.20.

Karman Stock Performance

Shares of KRMN stock opened at $58.75 on Friday. The company has a debt-to-equity ratio of 2.01, a quick ratio of 3.40 and a current ratio of 3.56. The stock has a market cap of $7.79 billion, a PE ratio of 202.59 and a beta of 0.56. Karman has a 1 year low of $43.68 and a 1 year high of $118.38. The stock has a fifty day moving average price of $49.86 and a 200 day moving average price of $72.89.

Karman (NYSE:KRMN - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.13 by $0.01. The business had revenue of $182.06 million during the quarter. Karman had a return on equity of 15.54% and a net margin of 6.31%.The company's quarterly revenue was up 58.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.10 EPS. Sell-side analysts forecast that Karman will post 0.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Karman

Several large investors have recently added to or reduced their stakes in KRMN. Legacy Wealth Asset Management LLC boosted its stake in Karman by 32.1% in the 2nd quarter. Legacy Wealth Asset Management LLC now owns 4,013 shares of the company's stock worth $200,000 after buying an additional 976 shares during the last quarter. Hilltop National Bank increased its stake in shares of Karman by 87.8% during the 2nd quarter. Hilltop National Bank now owns 1,258 shares of the company's stock valued at $63,000 after acquiring an additional 588 shares during the last quarter. CX Institutional purchased a new position in shares of Karman during the 2nd quarter worth about $28,000. BankChampaign National Association acquired a new stake in shares of Karman in the first quarter worth approximately $254,000. Finally, Bank of America Corp DE grew its holdings in Karman by 123.8% in the first quarter. Bank of America Corp DE now owns 459,531 shares of the company's stock valued at $36,785,000 after purchasing an additional 254,161 shares during the period.

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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