Karman (NYSE:KRMN) Sets New 12-Month 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.

Shares of Karman Holdings Inc. (NYSE:KRMN - Get Free Report) reached a new 52-week high on Thursday . The company traded as high as $64.47 and last traded at $62.13, with a volume of 2221291 shares. The stock had previously closed at $62.51.

Analyst Ratings Changes

Several equities analysts recently issued reports on KRMN shares. Robert W. Baird boosted their price target on Karman from $40.00 to $50.00 and gave the company an "outperform" rating in a research note on Wednesday, May 14th. Raymond James Financial assumed coverage on Karman in a report on Friday, September 5th. They set a "strong-buy" rating and a $100.00 price objective on the stock. Citigroup restated a "buy" rating and set a $58.00 price objective (up from $46.50) on shares of Karman in a research report on Monday, June 9th. Finally, Royal Bank Of Canada raised their target price on Karman from $55.00 to $57.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Two analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the company. Based on data from MarketBeat, Karman currently has a consensus rating of "Buy" and an average price target 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 firm has a 50 day moving average price of $51.68 and a two-hundred day moving average price of $42.77.

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

Insider Activity

In other Karman news, major shareholder Spaceco Spv Lp Tcfiii sold 23,623,968 shares of the business's stock in a transaction dated 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 transaction, the insider directly owned 50,450,859 shares in the company, valued at $2,472,092,091. The trade was a 31.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jonathan Beaudoin sold 80,000 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 transaction of $3,920,000.00. Following the sale, the chief operating officer directly owned 740,861 shares of the company's stock, valued at approximately $36,302,189. The trade was a 9.75% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,865,968 shares of company stock valued at $1,169,432,432.

Hedge Funds Weigh In On Karman

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

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