Karman (NYSE:KRMN) Reaches New 1-Year High - Here's What Happened

Key Points

• Karman Holdings Inc. (NYSE:KRMN) reached a new 52-week high of $79.25 during trading, closing at $79.04 with over a million shares exchanged.
• Equities analysts have given Karman a general rating of Buy, with price targets ranging from $57.00 to $100.00.
• Insiders have sold a significant number of shares recently, totaling approximately $1.17 billion in the last quarter, indicating potential concerns about the company's stock performance.

Karman Holdings Inc. (NYSE:KRMN - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $79.25 and last traded at $79.04, with a volume of 1006925 shares changing hands. The stock had previously closed at $74.71.

Wall Street Analyst Weigh In

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

Karman Price Performance

The company has a debt-to-equity ratio of 1.30, a current ratio of 2.75 and a quick ratio of 2.58. The firm has a 50-day moving average price of $60.87 and a two-hundred day moving average price of $48.91.

Karman (NYSE:KRMN - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.01). The company had revenue of $115.10 million for the quarter. The business's revenue for the quarter was up 35.3% on a year-over-year basis. Karman has set its FY 2025 guidance at EPS.

Insider Activity at Karman

In related news, COO Jonathan Beaudoin sold 80,000 shares of Karman stock in a transaction dated 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 sale, the chief operating officer directly owned 740,861 shares of the company's stock, valued at $36,302,189. This trade represents a 9.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephanie Sawhill sold 62,000 shares of Karman stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $49.00, for a total value of $3,038,000.00. Following the sale, the insider directly owned 566,939 shares in the company, valued at approximately $27,780,011. This trade represents a 9.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,865,968 shares of company stock worth $1,169,432,432.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Voya Investment Management LLC increased its holdings in Karman by 50.9% in the 3rd quarter. Voya Investment Management LLC now owns 450,669 shares of the company's stock valued at $32,538,000 after buying an additional 151,954 shares during the period. Oak Thistle LLC acquired a new stake in shares of Karman during the 3rd quarter valued at about $1,772,000. Osaic Holdings Inc. acquired a new stake in shares of Karman during the 2nd quarter valued at about $123,000. Orion Porfolio Solutions LLC bought a new position in Karman during the second quarter worth about $299,000. Finally, Vident Advisory LLC bought a new position in Karman during the second quarter worth about $245,000.

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.

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