Karman (NYSE:KRMN) Trading Down 7.9% - Here's Why

Key Points

• Karman shares fell 7.9% to about $53.61 in mid-day trading, with volume down 82% from its average session level.
• Analyst views remain broadly positive but price targets have been reduced by several firms; the stock carries a “Moderate Buy” consensus rating and a $92.10 average target.
• Karman’s latest quarter showed 58.2% year-over-year revenue growth and EPS of $0.14, beating estimates by $0.01, while major institutional investors—including Vanguard, Invesco and State Street—expanded their holdings.

Karman Holdings Inc. (NYSE:KRMN - Get Free Report)'s share price traded down 7.9% during mid-day trading on Thursday . The stock traded as low as $54.02 and last traded at $53.6070. 468,644 shares were traded during trading, a decline of 82% from the average session volume of 2,651,053 shares. The stock had previously closed at $58.20.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. KeyCorp cut their price objective on Karman from $122.00 to $100.00 and set an "overweight" rating on the stock in a report on Wednesday, May 20th. Truist Financial reduced their price objective on shares of Karman from $118.00 to $85.00 and set a "buy" rating for the company in a research note on Thursday, August 13th. BWS Financial restated a "sell" rating and issued a $37.00 price objective on shares of Karman in a report on Monday, August 10th. Citigroup upped their target price on Karman from $76.00 to $78.00 and gave the stock a "buy" rating in a report on Monday, August 10th. Finally, Evercore set a $100.00 price target on Karman in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Karman presently has an average rating of "Moderate Buy" and a consensus target price of $92.10.

Karman Price Performance

The stock has a market capitalization of $7.01 billion, a P/E ratio of 182.52 and a beta of 0.55. The company has a debt-to-equity ratio of 2.01, a current ratio of 3.56 and a quick ratio of 3.40. The company's 50-day simple moving average is $51.46 and its 200-day simple moving average is $70.13.

Karman (NYSE:KRMN - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.14 EPS for the quarter, beating analysts' consensus estimates of $0.13 by $0.01. The company had revenue of $182.06 million during the quarter. Karman had a net margin of 6.31% and a return on equity of 15.54%. The business's revenue was up 58.2% on a year-over-year basis. During the same period last year, the business earned $0.10 EPS. As a group, sell-side analysts expect that Karman Holdings Inc. will post 0.58 EPS for the current fiscal year.

Institutional Trading of Karman

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Karman by 151.1% during the 4th quarter. Vanguard Group Inc. now owns 9,342,230 shares of the company's stock worth $683,571,000 after acquiring an additional 5,621,556 shares during the last quarter. Invesco Ltd. boosted its position in Karman by 27.3% during the fourth quarter. Invesco Ltd. now owns 4,088,649 shares of the company's stock worth $299,166,000 after purchasing an additional 877,462 shares during the period. State Street Corp boosted its position in Karman by 35.0% during the fourth quarter. State Street Corp now owns 3,326,430 shares of the company's stock worth $243,395,000 after purchasing an additional 862,089 shares during the period. First Trust Advisors LP increased its holdings in shares of Karman by 3.3% in the first quarter. First Trust Advisors LP now owns 2,891,687 shares of the company's stock valued at $231,480,000 after purchasing an additional 93,565 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Karman by 125.3% in the fourth quarter. Van ECK Associates Corp now owns 2,867,379 shares of the company's stock valued at $209,806,000 after purchasing an additional 1,594,518 shares during the period.

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. We estimate that no single program accounted for more than 10% of sales for the nine months ended September 30, 2024 or the twelve months ended December 31, 2023, with revenue from over 100 active programs supporting current production and next-generation space, missile, hypersonic, and defense applications.

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