Karman (NYSE:KRMN) Reaches New 12-Month High - Here's What Happened

Key Points

• Karman Holdings Inc. (NYSE: KRMN) reached a new 52-week high of $67.96, closing at $67.46 with over 1.3 million shares traded.
• Wall Street analysts have a positive outlook on Karman, with a consensus rating of "Buy" and an average price target of $60.60, with Citigroup, Raymond James, and Royal Bank of Canada raising their respective price targets.
• Insider transactions have shown significant selling activity, with COO Jonathan Beaudoin and CFO Michael Willis each selling large blocks of stock, resulting in notable decreases in their ownership stakes.

Karman Holdings Inc. (NYSE:KRMN - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $67.96 and last traded at $67.46, with a volume of 1389048 shares trading hands. The stock had previously closed at $66.12.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on KRMN. Citigroup restated a "buy" rating and issued a $58.00 price target (up from $46.50) on shares of Karman in a research note on Monday, June 9th. Raymond James Financial started coverage on Karman in a research report on Friday, September 5th. They issued a "strong-buy" rating and a $100.00 price target for the company. Finally, Royal Bank Of Canada raised 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. Two analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. According to data from MarketBeat.com, Karman currently has an average rating of "Buy" and an average price target of $60.60.

Karman Price Performance

The company has a quick ratio of 2.58, a current ratio of 2.75 and a debt-to-equity ratio of 1.30. The company has a fifty day simple moving average of $54.60 and a 200-day simple moving average of $44.87.

Karman (NYSE:KRMN - Get Free Report) last released its quarterly 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). Karman'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 Buying and Selling at Karman

In other Karman news, COO Jonathan Beaudoin sold 80,000 shares of the business's stock in a transaction dated Friday, July 25th. The shares were 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 in the company, valued at $36,302,189. This represents a 9.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael Willis sold 100,000 shares of the company'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 $4,900,000.00. Following the sale, the chief financial officer owned 974,709 shares in the company, valued at $47,760,741. The trade was a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,865,968 shares of company stock valued at $1,169,432,432 over the last three months.

Institutional Trading of Karman

Large investors have recently made changes to their positions in the company. Stephens Investment Management Group LLC purchased a new stake in shares of Karman during the first quarter worth approximately $8,740,000. Baird Financial Group Inc. purchased a new stake in shares of Karman during the first quarter worth approximately $1,632,000. Sapient Capital LLC purchased a new position in Karman in the second quarter valued at approximately $615,000. Charles Schwab Investment Management Inc. purchased a new position in Karman in the first quarter valued at approximately $4,293,000. Finally, T. Rowe Price Investment Management Inc. purchased a new position in Karman in the first quarter valued at approximately $48,691,000.

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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