Needham & Company LLC Issues Pessimistic Forecast for Karman (NYSE:KRMN) Stock Price

Karman (NYSE:KRMN) had its price objective lowered by equities researchers at Needham & Company LLC from $125.00 to $80.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s target price points to a potential upside of 45.51% from the company’s current price.

Several other equities analysts also recently weighed in on the stock. Piper Sandler dropped their target price on shares of Karman from $127.00 to $114.00 and set an “overweight” rating for the company in a report on Tuesday, May 19th. Evercore set a $100.00 price target on shares of Karman in a research report on Wednesday, May 13th. BWS Financial restated a “sell” rating and set a $37.00 price objective on shares of Karman in a research report on Monday, May 18th. Citigroup dropped their price objective on Karman from $97.00 to $76.00 and set a “buy” rating for the company in a research report on Wednesday, July 1st. Finally, KeyCorp cut their price objective on shares of Karman from $122.00 to $100.00 and set an “overweight” rating for the company in a research report on Wednesday, May 20th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $97.50.

Karman Price Performance

Shares of NYSE:KRMN opened at $54.98 on Friday. Karman has a 12 month low of $43.68 and a 12 month high of $118.38. The firm has a market capitalization of $7.29 billion, a price-to-earnings ratio of 239.05 and a beta of 0.55. The business’s 50 day simple moving average is $49.84 and its 200-day simple moving average is $73.24. The company has a debt-to-equity ratio of 2.08, a current ratio of 3.53 and a quick ratio of 3.38.

Karman (NYSE:KRMN) 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 return on equity of 14.94% and a net margin of 5.73%.The company had revenue of $182.06 million for the quarter. During the same period last year, the company posted $0.10 EPS. The firm’s revenue for the quarter was up 58.2% on a year-over-year basis. As a group, equities analysts forecast that Karman will post 0.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Karman

Hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC boosted its position in 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 purchasing an additional 347 shares during the period. CX Institutional purchased a new stake in shares of Karman in the second quarter worth about $28,000. Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new position in Karman during the 3rd quarter worth approximately $29,000. Huntington National Bank purchased a new stake in shares of Karman during the fourth quarter valued at approximately $32,000. Finally, Kestra Advisory Services LLC purchased a new stake in Karman during the 4th quarter worth $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.