Karman (NYSE:KRMN) Stock Price Down 6.6% - Here's Why

Karman Holdings Inc. (NYSE:KRMN - Get Free Report)'s share price traded down 6.6% during trading on Tuesday . The company traded as low as $46.88 and last traded at $47.06. 243,568 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 924,512 shares. The stock had previously closed at $50.37.

Wall Street Analyst Weigh In

Several research analysts have issued reports on KRMN shares. Citigroup restated a "buy" rating and set a $58.00 target price (up previously from $46.50) on shares of Karman in a research report on Monday, June 9th. Robert W. Baird increased their target price on Karman from $40.00 to $50.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 14th. Royal Bank Of Canada boosted their target price on shares of Karman from $38.00 to $44.00 and gave the company an "outperform" rating in a research note on Wednesday, May 14th. Evercore ISI began coverage on shares of Karman in a report on Monday, March 10th. They set an "outperform" rating and a $38.00 price objective for the company. Finally, William Blair began coverage on shares of Karman in a research note on Monday, March 10th. They issued an "outperform" rating on the stock. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $47.50.

Karman Stock Down 11.0%

The company has a current ratio of 3.34, a quick ratio of 3.23 and a debt-to-equity ratio of 1.15. The business has a 50 day moving average price of $42.79.

Karman (NYSE:KRMN - Get Free Report) last announced its earnings results on Tuesday, May 13th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm's revenue was up 20.6% on a year-over-year basis.

Institutional Investors Weigh In On Karman

Institutional investors have recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new stake in shares of Karman in the 1st quarter worth $107,000. US Bancorp DE purchased a new stake in Karman in the first quarter valued at about $124,000. Hollencrest Capital Management acquired a new stake in Karman in the first quarter worth about $155,000. Caitong International Asset Management Co. Ltd purchased a new stake in Karman during the 1st quarter worth approximately $170,000. Finally, Phoenix Financial Ltd. acquired a new position in shares of Karman in the 1st quarter valued at $435,000.

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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