Karman (NYSE:KRMN) Reaches New 52-Week Low - Here's What Happened

Key Points

• Karman shares fell to a new 52-week low, trading as low as $43.32 and last changing hands at $42.80, down from the prior close of $45.57.
• Analyst sentiment remains broadly positive despite the decline: MarketBeat reports a consensus “Moderate Buy” rating and an average price target of $92.10, though Needham sharply cut its target to $80 and BWS Financial maintained a $37 sell target.
• Karman’s latest quarterly results exceeded expectations, with EPS of $0.14 versus $0.13 expected and revenue of $182.06 million, up 58.2% year over year.

Shares of Karman Holdings Inc. (NYSE:KRMN - Get Free Report) reached a new 52-week low during trading on Monday . The stock traded as low as $43.32 and last traded at $42.80, with a volume of 158264 shares trading hands. The stock had previously closed at $45.57.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on KRMN shares. Needham & Company LLC lowered their price target on shares of Karman from $125.00 to $80.00 and set a "buy" rating on the stock in a report on Friday, August 7th. Evercore set a $100.00 price target on shares of Karman in a research note on Wednesday, May 13th. Citigroup upped their target price on shares of Karman from $76.00 to $78.00 and gave the stock a "buy" rating in a report on Monday, August 10th. BWS Financial reissued a "sell" rating and set a $37.00 price objective on shares of Karman in a research note on Monday, August 10th. Finally, Weiss Ratings raised shares of Karman from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $92.10.

Karman Price Performance

The stock's 50 day simple moving average is $51.46 and its 200-day simple moving average is $67.68. The company has a market capitalization of $5.68 billion, a PE ratio of 148.23 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.

Karman (NYSE:KRMN - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.14 EPS for the quarter, beating the consensus estimate 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 quarterly revenue was up 58.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.10 EPS. As a group, equities analysts forecast that Karman Holdings Inc. will post 0.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Karman

Hedge funds and other institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its position in shares of Karman by 889.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 386 shares of the company's stock worth $28,000 after acquiring an additional 347 shares in the last quarter. CX Institutional purchased a new stake in Karman in the second quarter valued at $28,000. Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new position in Karman in the third quarter valued at $29,000. Tsfg LLC acquired a new position in Karman in the second quarter valued at $30,000. Finally, Huntington National Bank purchased a new position in Karman during the 4th quarter worth approximately $32,000.

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. 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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