Karman (NYSE:KRMN) Now Covered by Raymond James Financial

Key Points

• Raymond James Financial has initiated coverage on Karman (NYSE:KRMN) with a "strong-buy" rating and a price target of $100.00, indicating a potential upside of 86.88% from its previous close.
• Other analysts have also raised their price targets for Karman, with the current consensus target price set at $60.60 after several upgrades.
• Despite a missed earnings estimate of $0.10 per share for the latest quarter, Karman's revenue grew by 35.3% compared to the previous year, showcasing robust business growth.

Raymond James Financial started coverage on shares of Karman (NYSE:KRMN - Free Report) in a research report released on Friday, MarketBeat.com reports. The firm issued a strong-buy rating and a $100.00 price target on the stock.

A number of other research firms also recently issued reports on KRMN. Royal Bank Of Canada upped their price target on shares of Karman from $55.00 to $57.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Robert W. Baird increased their price objective on shares of Karman from $40.00 to $50.00 and gave the company an "outperform" rating in a research report on Wednesday, May 14th. Finally, Citigroup restated a "buy" rating and issued a $58.00 target price (up previously from $46.50) on shares of Karman in a research note on Monday, June 9th. Two equities research analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $60.60.

Karman Price Performance

Shares of Karman stock traded up $0.25 during trading on Friday, hitting $62.76. 972,903 shares of the company's stock traded hands, compared to its average volume of 1,205,404. Karman has a 1 year low of $25.02 and a 1 year high of $64.47. The business has a 50-day simple moving average of $51.34 and a 200-day simple moving average of $42.64. The company has a current ratio of 2.75, a quick ratio of 2.58 and a debt-to-equity ratio of 1.30.

Karman (NYSE:KRMN - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.01). The firm's revenue was up 35.3% compared to the same quarter last year. Karman has set its FY 2025 guidance at EPS.

Insider Activity

In other Karman news, COO Jonathan Beaudoin sold 80,000 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $49.00, for a total value of $3,920,000.00. Following the sale, the chief operating officer directly owned 740,861 shares of the company's stock, valued at approximately $36,302,189. This represents a 9.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Stephanie Sawhill sold 62,000 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 $3,038,000.00. Following the completion of the sale, the insider owned 566,939 shares in the company, valued at approximately $27,780,011. This represents a 9.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,865,968 shares of company stock worth $1,169,432,432 in the last ninety days.

Institutional Investors Weigh In On Karman

Hedge funds have recently modified their holdings of the stock. Global Trust Asset Management LLC acquired a new position in Karman in the 2nd quarter valued at $50,000. Penserra Capital Management LLC purchased a new position in Karman during the second quarter worth about $95,000. Amalgamated Bank acquired a new stake in Karman in the second quarter valued at about $100,000. Osaic Holdings Inc. purchased a new stake in Karman in the 2nd quarter valued at approximately $123,000. Finally, SBI Securities Co. Ltd. acquired a new position in Karman during the 1st quarter worth approximately $107,000.

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.