Karman (NYSE:KRMN) Price Target Cut to $80.00 by Analysts at Needham & Company LLC

Key Points

• Needham cut Karman’s price target from $125 to $80 while maintaining a “buy” rating, implying approximately 45.5% upside from the stock’s $54.98 price. The analyst consensus remains “Moderate Buy,” with an average target of $97.50.
• Karman recently exceeded quarterly earnings expectations, reporting $0.14 EPS versus $0.13 expected and $182.06 million in revenue, up 58.2% year over year. Analysts estimate full-year EPS of $0.58.
• The stock remains well below its 52-week high of $118.38 and carries a high valuation, with a market capitalization of $7.29 billion and a price-to-earnings ratio of 239.05.

Karman (NYSE:KRMN - Get Free Report) had its price objective dropped by equities researchers at Needham & Company LLC from $125.00 to $80.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. Needham & Company LLC's price target would indicate a potential upside of 45.51% from the company's current price.

Several other equities research analysts have also recently issued reports on the company. Evercore set a $100.00 price objective on Karman in a report on Wednesday, May 13th. Royal Bank Of Canada dropped their target price on shares of Karman from $100.00 to $85.00 and set an "outperform" rating for the company in a report on Friday, July 24th. Weiss Ratings cut shares of Karman from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, June 29th. BWS Financial reaffirmed a "sell" rating and issued a $37.00 price target on shares of Karman in a report on Monday, May 18th. Finally, Piper Sandler cut their price objective on shares of Karman from $127.00 to $114.00 and set an "overweight" rating for the company in a research report on Tuesday, May 19th. Two analysts have rated the stock with a Strong Buy rating, seven 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.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $97.50.

Karman Stock Down 0.3%

Karman stock opened at $54.98 on Friday. The business's 50-day simple moving average is $49.84 and its two-hundred day simple moving average is $73.24. The company has a debt-to-equity ratio of 2.08, a quick ratio of 3.38 and a current ratio of 3.53. The company has a market cap of $7.29 billion, a PE ratio of 239.05 and a beta of 0.55. Karman has a fifty-two week low of $43.68 and a fifty-two week high of $118.38.

Karman (NYSE:KRMN - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.14 EPS for the quarter, topping analysts' consensus estimates of $0.13 by $0.01. The firm had revenue of $182.06 million during the quarter. Karman had a return on equity of 14.94% and a net margin of 5.73%.The company's revenue for the quarter was up 58.2% compared to the same quarter last year. During the same period last year, the firm earned $0.10 EPS. Equities analysts anticipate that Karman will post 0.58 EPS for the current year.

Institutional Trading of Karman

Hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its holdings in shares of Karman by 889.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 386 shares of the company's stock worth $28,000 after purchasing an additional 347 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new position in shares of Karman during the 3rd quarter worth approximately $29,000. Kestra Advisory Services LLC acquired a new stake in shares of Karman in the 4th quarter valued at approximately $32,000. Huntington National Bank purchased a new stake in shares of Karman in the fourth quarter valued at approximately $32,000. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Karman in the fourth quarter valued at approximately $35,000.

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. 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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