Karman (NYSE:KRMN) Shares Down 3.7% - Time to Sell?

Key Points

• Karman shares fell 3.7% to about $35.56, with trading volume 58% below the average. The stock is well below its 50-day and 200-day moving averages.
• Despite the decline, analysts maintain a consensus “Moderate Buy” rating and an average price target of $89.45, though several firms recently lowered their targets.
• Karman reported strong quarterly growth, including 58.2% year-over-year revenue growth to $182.06 million and EPS of $0.14, slightly above estimates. Institutional investors also increased or initiated positions in the company.

Karman Holdings Inc. (NYSE:KRMN - Get Free Report) shares fell 3.7% on Thursday . The company traded as low as $35.68 and last traded at $35.5550. Approximately 1,143,820 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 2,694,430 shares. The stock had previously closed at $36.94.

Analyst Upgrades and Downgrades

KRMN has been the subject of a number of recent research reports. Guggenheim began coverage on Karman in a research report on Monday. They set a "buy" rating and a $63.00 price objective for the company. Citigroup increased their target price on Karman from $76.00 to $78.00 and gave the company a "buy" rating in a report on Monday, August 10th. Piper Sandler reaffirmed an "overweight" rating and issued a $91.00 target price (down from $114.00) on shares of Karman in a research note on Friday, August 7th. Weiss Ratings cut shares of Karman from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, September 10th. Finally, Royal Bank Of Canada dropped their price target on Karman from $100.00 to $85.00 and set an "outperform" rating for the company in a research note on Friday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Karman has a consensus rating of "Moderate Buy" and a consensus target price of $89.45.

Karman Trading Down 4.4%

The company has a current ratio of 3.56, a quick ratio of 3.40 and a debt-to-equity ratio of 2.01. The business has a 50 day simple moving average of $48.41 and a two-hundred day simple moving average of $63.70. The stock has a market cap of $4.68 billion, a price-to-earnings ratio of 121.76 and a beta of 0.47.

Karman (NYSE:KRMN - Get Free Report) last posted 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 firm had revenue of $182.06 million for the quarter. Karman had a net margin of 6.31% and a return on equity of 15.54%. The company's revenue was up 58.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.10 earnings per share. As a group, equities analysts anticipate that Karman Holdings Inc. will post 0.59 EPS for the current year.

Institutional Trading of Karman

Several hedge funds and other institutional investors have recently bought and sold shares of KRMN. HBK Investments L P acquired a new position in Karman in the second quarter worth $998,000. Tidal Investments LLC lifted its holdings in Karman by 78.1% in the second quarter. Tidal Investments LLC now owns 29,199 shares of the company's stock worth $1,458,000 after acquiring an additional 12,807 shares during the last quarter. Engineers Gate Manager LP acquired a new position in Karman in the second quarter valued at approximately $470,000. NewEdge Advisors LLC boosted its stake in Karman by 163.3% in the second quarter. NewEdge Advisors LLC now owns 3,112 shares of the company's stock valued at $155,000 after acquiring an additional 1,930 shares during the period. Finally, Arizona State Retirement System grew its holdings in shares of Karman by 13.2% during the second quarter. Arizona State Retirement System now owns 16,456 shares of the company's stock valued at $821,000 after purchasing an additional 1,915 shares during the last quarter.

Karman Company Profile

Karman is an aerospace and defense company that develops and manufactures mission-critical components, structures and systems for space and defense applications. Its offerings support launch vehicles, satellites, hypersonic systems and other advanced aerospace platforms.

The company provides capabilities across engineered metallic and composite structures, precision components, propulsion-related products and other specialized assemblies. Karman serves government and commercial aerospace customers involved in space launch, national security and defense programs.

Operating through a portfolio of aerospace and defense businesses, Karman combines design, engineering and manufacturing capabilities for complex, high-performance applications.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.