Karman (NYSE:KRMN) Sees Strong Trading Volume - Time to Buy?

Shares of Karman Holdings Inc. (NYSE:KRMN - Get Free Report) saw unusually-strong trading volume on Thursday . Approximately 5,861,155 shares changed hands during trading, an increase of 471% from the previous session's volume of 1,025,774 shares.The stock last traded at $49.96 and had previously closed at $49.10.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on KRMN shares. Robert W. Baird boosted their price objective on shares of Karman from $40.00 to $50.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 14th. Citigroup reaffirmed a "buy" rating and set a $58.00 price target (up previously from $46.50) on shares of Karman in a research note on Monday, June 9th. Finally, Royal Bank Of Canada lifted their price objective on Karman from $44.00 to $51.00 and gave the stock an "outperform" rating in a research report on Thursday, July 3rd. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $49.25.

Karman Price Performance

The company has a debt-to-equity ratio of 1.15, a current ratio of 3.34 and a quick ratio of 3.23. The company's 50 day simple moving average is $46.84.

Karman (NYSE:KRMN - Get Free Report) last issued its 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 company had revenue of $100.12 million for the quarter, compared to the consensus estimate of $95.40 million. The business's quarterly revenue was up 20.6% compared to the same quarter last year.

Hedge Funds Weigh In On Karman

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. bought a new position in Karman in the first quarter valued at approximately $61,024,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of Karman in the 1st quarter valued at approximately $58,799,000. Invesco Ltd. acquired a new stake in Karman in the 1st quarter valued at about $50,220,000. T. Rowe Price Investment Management Inc. bought a new position in shares of Karman during the 1st quarter worth approximately $48,691,000. Finally, Alliancebernstein L.P. bought a new position in Karman during the first quarter worth $37,182,000.

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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