Karman (NYSE:KRMN) Shares Up 6.2% - Here's What Happened

Key Points

• Karman shares rose 6.2% to about $36.89 in mid-day trading, despite trading volume running 59% below the average session level.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $89.45, although several firms recently lowered their targets and one maintained a sell rating.
• Karman reported quarterly EPS of $0.14, exceeding estimates by $0.01, while revenue increased 58.2% year over year to $182.06 million.

Karman Holdings Inc. (NYSE:KRMN - Get Free Report) shares shot up 6.2% during mid-day trading on Tuesday . The company traded as high as $36.34 and last traded at $36.8890. Approximately 1,093,114 shares traded hands during mid-day trading, a decline of 59% from the average session volume of 2,677,028 shares. The stock had previously closed at $34.74.

Analyst Ratings Changes

KRMN has been the topic of a number of analyst reports. Truist Financial reduced their target price on shares of Karman from $118.00 to $85.00 and set a "buy" rating on the stock in a research note on Thursday, August 13th. Piper Sandler restated an "overweight" rating and set a $91.00 price target (down from $114.00) on shares of Karman in a report on Friday, August 7th. Weiss Ratings cut Karman from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday. BWS Financial reiterated a "sell" rating and issued a $37.00 price objective on shares of Karman in a research report on Monday, August 10th. Finally, KeyCorp cut their target price on Karman from $122.00 to $100.00 and set an "overweight" rating for the company in a research note on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $89.45.

Karman Stock Performance

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 stock has a market capitalization of $5.05 billion, a price-to-earnings ratio of 131.20 and a beta of 0.47. The firm's fifty day moving average price is $48.95 and its 200 day moving average price is $64.38.

Karman (NYSE:KRMN - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.01. Karman had a net margin of 6.31% and a return on equity of 15.54%. The firm had revenue of $182.06 million during the quarter. During the same quarter last year, the business posted $0.10 EPS. The firm's revenue for the quarter was up 58.2% on a year-over-year basis. Analysts forecast that Karman Holdings Inc. will post 0.59 EPS for the current fiscal year.

Hedge Funds Weigh In On Karman

Several hedge funds have recently bought and sold shares of the company. Falcon Wealth Planning acquired a new position in Karman during the 1st quarter worth approximately $205,684,000. Trustees of the University of Pennsylvania acquired a new stake in shares of Karman in the 4th quarter valued at $142,869,000. Van ECK Associates Corp lifted its position in shares of Karman by 125.3% during the 4th quarter. Van ECK Associates Corp now owns 2,867,379 shares of the company's stock worth $209,806,000 after purchasing an additional 1,594,518 shares during the last quarter. Rokos Capital Management LLP purchased a new stake in shares of Karman during the 1st quarter worth $35,261,000. Finally, Wellington Management Group LLP acquired a new position in shares of Karman during the second quarter worth $16,086,000.

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.