Karman (NYSE:KRMN) Hits New 1-Year High - Still a Buy?

Key Points

• Karman Holdings Inc. shares reached a new 52-week high of $66.29 on Wednesday, closing at $64.85 with a trading volume of 1,265,877 shares.
• Analysts have given Karman an average rating of "Buy" with a consensus target price of $60.60, including several ratings upgrades earlier this year.
• Insider trading has seen significant activity, with a major shareholder selling over 23.6 million shares at an average price of $49.00, indicating a 31.89% decrease in their ownership of the stock.

Karman Holdings Inc. (NYSE:KRMN - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $66.29 and last traded at $64.85, with a volume of 1265877 shares traded. The stock had previously closed at $63.80.

Analyst Ratings Changes

KRMN has been the topic of a number of recent research reports. Royal Bank Of Canada boosted 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. Raymond James Financial started coverage on Karman in a research report on Friday, September 5th. They issued a "strong-buy" rating and a $100.00 price target on the stock. Finally, Citigroup reaffirmed a "buy" rating and issued a $58.00 target price (up previously from $46.50) on shares of Karman in a research report on Monday, June 9th. Two investment analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $60.60.

Karman Stock Up 1.2%

The company's 50 day simple moving average is $53.89 and its 200 day simple moving average is $44.16. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.75 and a quick ratio of 2.58.

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 business's revenue was up 35.3% compared to the same quarter last year. Karman has set its FY 2025 guidance at EPS.

Insider Activity

In related news, COO Jonathan Beaudoin sold 80,000 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $49.00, for a total transaction of $3,920,000.00. Following the transaction, the chief operating officer owned 740,861 shares in the company, valued at $36,302,189. This represents a 9.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Spaceco Spv Lp Tcfiii sold 23,623,968 shares of the 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 $1,157,574,432.00. Following the completion of the transaction, the insider 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,865,968 shares of company stock worth $1,169,432,432.

Institutional Investors Weigh In On Karman

Several large investors have recently modified their holdings of KRMN. Global Trust Asset Management LLC purchased a new position in shares of Karman in the 2nd quarter worth approximately $50,000. Penserra Capital Management LLC purchased a new stake in shares of Karman in the second quarter valued at about $95,000. Amalgamated Bank acquired a new stake in shares of Karman during the second quarter worth about $100,000. Osaic Holdings Inc. acquired a new stake in Karman in the second quarter valued at approximately $123,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Karman during the first quarter worth approximately $107,000.

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.