Karman (NYSE:KRMN) Reaches New 52-Week High - Here's Why

Karman Holdings Inc. (NYSE:KRMN - Get Free Report)'s stock price hit a new 52-week high on Thursday . The stock traded as high as $50.60 and last traded at $50.50, with a volume of 50834 shares changing hands. The stock had previously closed at $48.89.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Citigroup reiterated a "buy" rating and issued a $58.00 price target (up previously from $46.50) on shares of Karman in a research note on Monday, June 9th. William Blair assumed coverage on shares of Karman in a research report on Monday, March 10th. They set an "outperform" rating for the company. Evercore ISI started coverage on Karman in a report on Monday, March 10th. They issued an "outperform" rating and a $38.00 target price for the company. Royal Bank Of Canada boosted their price target on Karman from $38.00 to $44.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 14th. Finally, Robert W. Baird increased their price objective on Karman from $40.00 to $50.00 and gave the company an "outperform" rating in a research report on Wednesday, May 14th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $47.50.

Karman Price Performance

The company has a current ratio of 3.34, a quick ratio of 3.23 and a debt-to-equity ratio of 1.15. The business has a 50-day moving average of $41.83.

Karman (NYSE:KRMN - Get Free Report) last released its quarterly earnings results on Tuesday, May 13th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.02 by $0.03. The firm had revenue of $100.12 million during the quarter, compared to analysts' expectations of $95.40 million. The business's quarterly revenue was up 20.6% on a year-over-year basis.

Institutional Investors Weigh In On Karman

Large investors have recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new position in shares of Karman in the first quarter worth approximately $107,000. US Bancorp DE bought a new position in Karman in the first quarter worth approximately $124,000. Hollencrest Capital Management purchased a new position in shares of Karman during the 1st quarter worth $155,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Karman during the 1st quarter valued at $170,000. Finally, Phoenix Financial Ltd. bought a new stake in shares of Karman during the 1st quarter valued at $435,000.

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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