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

Karman Holdings Inc. (NYSE:KRMN - Get Free Report) shares reached a new 52-week high on Wednesday . The stock traded as high as $52.41 and last traded at $51.87, with a volume of 286324 shares. The stock had previously closed at $48.31.

Analyst Ratings Changes

KRMN has been the subject of several recent analyst reports. Citigroup reaffirmed a "buy" rating and set a $58.00 price objective (up previously from $46.50) on shares of Karman in a research report on Monday, June 9th. Royal Bank Of Canada upped their price objective on shares of Karman from $44.00 to $51.00 and gave the stock an "outperform" rating in a research report on Thursday, July 3rd. Finally, Robert W. Baird upped 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. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Karman currently has an average rating of "Buy" and a consensus target price of $49.25.

Karman Stock Performance

The company has a quick ratio of 3.23, a current ratio of 3.34 and a debt-to-equity ratio of 1.15. The stock has a 50 day moving average price of $45.46.

Karman (NYSE:KRMN - Get Free Report) last issued its earnings results on Tuesday, May 13th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.02 by $0.03. The business had revenue of $100.12 million for the quarter, compared to analyst estimates of $95.40 million. Karman's revenue for the quarter was up 20.6% compared to the same quarter last year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of KRMN. Global Trust Asset Management LLC acquired a new position in shares of Karman in the second quarter valued at approximately $50,000. SBI Securities Co. Ltd. acquired a new position in shares of Karman in the first quarter valued at approximately $107,000. US Bancorp DE acquired a new position in shares of Karman in the first quarter valued at approximately $124,000. Hollencrest Capital Management acquired a new position in shares of Karman in the first quarter valued at approximately $155,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Karman in the first quarter valued at approximately $170,000.

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.