Royal Bank Of Canada Raises Karman (NYSE:KRMN) Price Target to $57.00

Key Points

• Royal Bank of Canada has raised its price target for Karman (NYSE:KRMN) from $55.00 to $57.00, indicating a potential upside of 22.40%.
• Karman's stock currently holds an average rating of "Buy" among analysts, with an average target price of $50.75, following positive revisions from other firms.
• The company's shares recently traded down to $46.57, while reporting a 35.3% year-over-year revenue increase, although EPS fell short of consensus estimates.

Karman (NYSE:KRMN - Get Free Report) had its target price raised by equities research analysts at Royal Bank Of Canada from $55.00 to $57.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Royal Bank Of Canada's target price would indicate a potential upside of 22.40% from the stock's previous close.

Other research analysts have also issued reports about the stock. Robert W. Baird upped their target price on shares of Karman from $40.00 to $50.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 14th. Citigroup restated a "buy" rating and set a $58.00 target price (up from $46.50) on shares of Karman in a research report on Monday, June 9th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Karman presently has an average rating of "Buy" and an average target price of $50.75.

Karman Price Performance

Shares of NYSE:KRMN traded down $1.64 on Friday, reaching $46.57. The company's stock had a trading volume of 1,857,012 shares, compared to its average volume of 1,167,306. The business has a 50-day moving average price of $48.30. Karman has a 52-week low of $25.02 and a 52-week high of $57.31. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.23 and a current ratio of 3.34.

Karman (NYSE:KRMN - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.11 by ($0.01). Karman's revenue was up 35.3% on a year-over-year basis.

Insider Activity at Karman

In other news, insider Stephanie Sawhill sold 62,000 shares of Karman 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 $3,038,000.00. Following the transaction, the insider directly owned 566,939 shares of the company's stock, valued at $27,780,011. This trade represents a 9.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Michael Willis sold 100,000 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $49.00, for a total transaction of $4,900,000.00. Following the sale, the chief financial officer owned 974,709 shares of the company's stock, valued at approximately $47,760,741. This represents a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,865,968 shares of company stock worth $1,169,432,432 in the last 90 days.

Institutional Trading of Karman

Institutional investors have recently added to or reduced their stakes in the business. Global Trust Asset Management LLC acquired a new stake in Karman in the second quarter valued at approximately $50,000. Penserra Capital Management LLC acquired a new stake in shares of Karman in the second quarter worth $95,000. Amalgamated Bank acquired a new stake in shares of Karman in the second quarter worth $100,000. SBI Securities Co. Ltd. acquired a new stake in shares of Karman in the first quarter worth $107,000. Finally, US Bancorp DE acquired a new stake in shares of Karman in the first quarter worth $124,000.

Karman Company Profile

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.

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