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

Key Points

• Karman Holdings Inc. (KRMN) reached a new 52-week high of $64.47 before closing at $62.13 with a trading volume of over 2.22 million shares.
• Analyst ratings for Karman demonstrate strong confidence, with a consensus rating of "Buy" and multiple price targets exceeding $50, including a $100 target from Raymond James.
• Insiders have sold a significant amount of shares, with the largest transaction involving a major shareholder selling 23.6 million shares worth over $1.15 billion in July.

Karman Holdings Inc. (NYSE:KRMN - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $64.47 and last traded at $62.13, with a volume of 2221291 shares trading hands. The stock had previously closed at $62.51.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on KRMN. Raymond James Financial assumed coverage on Karman in a research note on Friday, September 5th. They set a "strong-buy" rating and a $100.00 price objective for the company. Royal Bank Of Canada lifted their target price on Karman from $55.00 to $57.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Finally, Citigroup reissued a "buy" rating and set a $58.00 target price (up previously from $46.50) on shares of Karman in a research note on Monday, June 9th. Two analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $60.60.

Karman Stock Performance

The company has a quick ratio of 2.58, a current ratio of 2.75 and a debt-to-equity ratio of 1.30. The stock has a 50 day simple moving average of $52.80 and a 200-day simple moving average of $43.65.

Karman (NYSE:KRMN - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.11 by ($0.01). Karman's revenue was up 35.3% compared to the same quarter last year. Karman has set its FY 2025 guidance at EPS.

Insider Buying and Selling

In other news, insider Stephanie Sawhill sold 62,000 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $49.00, for a total value of $3,038,000.00. Following the completion of the sale, the insider directly owned 566,939 shares of the company's stock, valued at $27,780,011. This trade represents a 9.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Spaceco Spv Lp Tcfiii sold 23,623,968 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $49.00, for a total value of $1,157,574,432.00. Following the completion of the sale, the insider directly owned 50,450,859 shares of the company's stock, valued at $2,472,092,091. The trade was a 31.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,865,968 shares of company stock valued at $1,169,432,432 over the last quarter.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of KRMN. Bank of New York Mellon Corp bought a new position in shares of Karman during the first quarter valued at approximately $22,515,000. Caas Capital Management LP bought a new position in shares of Karman during the first quarter valued at approximately $3,192,000. Stephens Investment Management Group LLC bought a new position in shares of Karman during the first quarter valued at approximately $8,740,000. SBI Securities Co. Ltd. bought a new position in shares of Karman during the first quarter valued at approximately $107,000. Finally, TimesSquare Capital Management LLC bought a new position in shares of Karman during the first quarter valued at approximately $14,891,000.

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.