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

Karman Holdings Inc. (NYSE:KRMN - Get Free Report) hit a new 52-week high on Thursday . The company traded as high as $45.89 and last traded at $44.97, with a volume of 454256 shares. The stock had previously closed at $43.16.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Baird R W upgraded Karman to a "strong-buy" rating in a research note on Monday, March 10th. Citigroup began coverage on Karman in a report on Monday, March 10th. They set a "buy" rating and a $42.00 target price for the company. Royal Bank of Canada increased their target price on Karman from $38.00 to $44.00 and gave the company an "outperform" rating in a report on Wednesday, May 14th. William Blair began coverage on Karman in a report on Monday, March 10th. They issued an "outperform" rating for the company. Finally, Robert W. Baird increased their price objective on Karman from $40.00 to $50.00 and gave the stock an "outperform" rating in a report on Wednesday, May 14th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Karman has a consensus rating of "Buy" and a consensus target price of $43.50.

Karman Price Performance

The business's 50-day moving average is $37.39.

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

Hedge Funds Weigh In On Karman

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. purchased a new stake in shares of Karman in the first quarter worth about $61,024,000. Price T Rowe Associates Inc. MD bought a new stake in Karman during the first quarter worth approximately $58,799,000. Invesco Ltd. bought a new position in shares of Karman during the first quarter valued at approximately $50,220,000. T. Rowe Price Investment Management Inc. bought a new position in shares of Karman during the first quarter valued at approximately $48,691,000. Finally, Alliancebernstein L.P. purchased a new stake in shares of Karman during the first quarter valued at $37,182,000.

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.