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

Key Points

• Karman stock hit a new 52-week low on Tuesday, trading as low as $43.68 before last changing hands around $44.30.
• Despite the slide, recent earnings were solid: Karman reported $0.11 EPS versus $0.08 expected and revenue of $151.21 million, up 51% year over year.
• Analyst sentiment remains mixed but mostly positive, with a Moderate Buy consensus and an average price target of $103.50, even after several firms cut targets.

Karman Holdings Inc. (NYSE:KRMN - Get Free Report)'s stock price hit a new 52-week low on Tuesday . The company traded as low as $43.68 and last traded at $44.2960, with a volume of 190816 shares changing hands. The stock had previously closed at $44.88.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Citigroup reduced their price target on shares of Karman from $97.00 to $76.00 and set a "buy" rating on the stock in a research report on Wednesday, July 1st. BWS Financial reaffirmed a "sell" rating and issued a $37.00 target price on shares of Karman in a research note on Monday, May 18th. Piper Sandler reduced their target price on shares of Karman from $127.00 to $114.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 19th. Needham & Company LLC reissued a "buy" rating and set a $125.00 price target on shares of Karman in a research note on Thursday, April 9th. Finally, Truist Financial upgraded shares of Karman to a "strong-buy" rating in a research report on Friday, May 1st. Two equities research 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 given a Sell rating to the company's stock. According to data from MarketBeat.com, Karman currently has a consensus rating of "Moderate Buy" and a consensus price target of $103.50.

Karman Stock Performance

The firm has a fifty day moving average of $53.65 and a 200-day moving average of $77.40. The company has a quick ratio of 3.38, a current ratio of 3.53 and a debt-to-equity ratio of 2.08. The firm has a market cap of $5.92 billion, a P/E ratio of 194.54 and a beta of 0.51.

Karman (NYSE:KRMN - Get Free Report) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.03. Karman had a return on equity of 14.94% and a net margin of 5.73%.The firm had revenue of $151.21 million during the quarter, compared to analysts' expectations of $150.19 million. During the same period in the previous year, the business posted $0.05 EPS. The company's quarterly revenue was up 51.0% compared to the same quarter last year. Research analysts predict that Karman Holdings Inc. will post 0.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Karman

A number of institutional investors and hedge funds have recently modified their holdings of KRMN. Vanguard Group Inc. boosted its position in shares of Karman by 151.1% in the 4th quarter. Vanguard Group Inc. now owns 9,342,230 shares of the company's stock worth $683,571,000 after purchasing an additional 5,621,556 shares during the last quarter. Falcon Wealth Planning acquired a new stake in shares of Karman during the first quarter worth $205,684,000. Schusterman Interests LLC bought a new stake in Karman in the third quarter valued at about $148,024,000. Trustees of the University of Pennsylvania acquired a new position in Karman in the fourth quarter valued at about $142,869,000. Finally, Van ECK Associates Corp lifted its stake in Karman by 125.3% in the fourth quarter. Van ECK Associates Corp now owns 2,867,379 shares of the company's stock valued at $209,806,000 after buying an additional 1,594,518 shares during the period.

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. 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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