Karman (NYSE:KRMN) Hits New 52-Week High - Should You Buy?

Key Points

• Karman Holdings Inc. reached a new 52-week high of $80.90 during trading, reflecting a significant increase from its previous close of $77.21.
• Analysts have a generally positive outlook, with Evercore ISI having raised their target price from $58.00 to $75.00 and a mix of "Buy" and "Strong Buy" ratings from several firms.
• In recent insider transactions, COO Jonathan Beaudoin and another insider sold a substantial number of shares, indicating a potential decrease in their stakes in the company.

Karman Holdings Inc. (NYSE:KRMN - Get Free Report) reached a new 52-week high during trading on Thursday . The company traded as high as $80.90 and last traded at $80.50, with a volume of 145803 shares. The stock had previously closed at $77.21.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Evercore ISI increased their target price on Karman from $58.00 to $75.00 and gave the stock an "outperform" rating in a research note on Monday, September 29th. Royal Bank Of Canada increased their target price on Karman from $55.00 to $57.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Karman in a research report on Wednesday, October 8th. Truist Financial started coverage on Karman in a research report on Friday, October 10th. They set a "buy" rating and a $89.00 price objective on the stock. Finally, Raymond James Financial started coverage on Karman in a research report on Friday, September 5th. They set a "strong-buy" rating and a $100.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $71.50.

Karman Stock Performance

The business has a fifty day simple moving average of $64.85 and a two-hundred day simple moving average of $50.84. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.75 and a quick ratio of 2.58.

Karman (NYSE:KRMN - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.11 by ($0.01). The business had revenue of $115.10 million during the quarter. Karman's quarterly revenue was up 35.3% compared to the same quarter last year. Karman has set its FY 2025 guidance at EPS.

Insider Transactions at Karman

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

Hedge Funds Weigh In On Karman

Several institutional investors have recently added to or reduced their stakes in KRMN. Vanguard Group Inc. purchased a new position in Karman during the 1st quarter valued at approximately $61,024,000. Price T Rowe Associates Inc. MD purchased a new position in Karman during the 1st quarter valued at approximately $58,799,000. Invesco Ltd. purchased a new position in Karman during the 1st quarter valued at approximately $50,220,000. T. Rowe Price Investment Management Inc. purchased a new position in shares of Karman in the 1st quarter worth approximately $48,691,000. Finally, Alliancebernstein L.P. purchased a new position in shares of Karman in the 1st quarter worth approximately $37,182,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.