Karman (NYSE:KRMN) Now Covered by Analysts at Truist Financial

Key Points

• Karman (NYSE:KRMN) has been upgraded to a "strong-buy" rating by Truist Financial, reflecting a positive outlook from analysts.
• The stock has a current average price target of $71.50 and has seen a significant increase in price, reaching a high of $77.92 in the past year.
• Recent insider selling activity includes major shareholders offloading substantial shares, impacting the control structure of the company.

Stock analysts at Truist Financial assumed coverage on shares of Karman (NYSE:KRMN - Get Free Report) in a research report issued on Friday, MarketBeat Ratings reports. The firm set a "buy" rating and a $89.00 price target on the stock. Truist Financial's price objective suggests a potential upside of 18.89% from the stock's current price.

A number of other equities analysts have also commented on KRMN. Weiss Ratings restated a "sell (d+)" rating on shares of Karman in a research note on Wednesday. Evercore ISI raised their price objective on Karman from $58.00 to $75.00 and gave the stock an "outperform" rating in a research note on Monday, September 29th. Royal Bank Of Canada raised their price objective on Karman from $55.00 to $57.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Finally, Raymond James Financial assumed coverage on Karman in a report on Friday, September 5th. They issued a "strong-buy" rating and a $100.00 target price on the stock. Three analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $71.50.

Karman Stock Performance

Karman stock opened at $74.86 on Friday. The stock's fifty day moving average price is $60.32 and its two-hundred day moving average price is $48.44. Karman has a one year low of $25.02 and a one year high of $77.92. The company has a debt-to-equity ratio of 1.30, a quick ratio of 2.58 and a current ratio of 2.75.

Karman (NYSE:KRMN - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.10 EPS for the quarter, missing analysts' consensus estimates of $0.11 by ($0.01). The business had revenue of $115.10 million during the quarter. The business's quarterly revenue was up 35.3% on a year-over-year basis. Karman has set its FY 2025 guidance at EPS.

Insider Transactions at Karman

In related news, insider Stephanie Sawhill sold 62,000 shares of the firm's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $49.00, for a total transaction of $3,038,000.00. Following the sale, the insider 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 legal filing with the SEC, which is available through this hyperlink. Also, CFO Michael Willis sold 100,000 shares of the firm's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $49.00, for a total value of $4,900,000.00. Following the sale, the chief financial officer directly owned 974,709 shares in the company, valued at approximately $47,760,741. This trade represents a 9.30% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,865,968 shares of company stock worth $1,169,432,432.

Institutional Investors Weigh In On Karman

Several hedge funds have recently modified their holdings of the company. Bamco Inc. NY boosted its holdings in shares of Karman by 0.6% during the 2nd quarter. Bamco Inc. NY now owns 2,415,134 shares of the company's stock valued at $121,650,000 after acquiring an additional 14,486 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Karman by 26.8% during the 2nd quarter. Invesco Ltd. now owns 1,905,052 shares of the company's stock valued at $95,957,000 after acquiring an additional 402,346 shares in the last quarter. Vanguard Group Inc. acquired a new position in Karman during the 1st quarter worth about $61,024,000. Bank of New York Mellon Corp lifted its holdings in Karman by 162.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,770,498 shares of the company's stock worth $89,180,000 after buying an additional 1,096,790 shares during the period. Finally, Price T Rowe Associates Inc. MD acquired a new position in Karman during the 1st quarter worth about $58,799,000.

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.