Piper Sandler Reaffirms Overweight Rating for Karman (NYSE:KRMN)

Karman (NYSE:KRMN)‘s stock had its “overweight” rating reiterated by investment analysts at Piper Sandler in a report released on Friday,Benzinga reports. They currently have a $91.00 target price on the stock, down from their previous target price of $114.00. Piper Sandler’s price target suggests a potential upside of 54.89% from the company’s previous close.

A number of other equities analysts have also recently weighed in on KRMN. Truist Financial raised shares of Karman to a “strong-buy” rating in a research report on Friday, May 1st. KeyCorp dropped their price objective on Karman from $122.00 to $100.00 and set an “overweight” rating on the stock in a report on Wednesday, May 20th. Evercore set a $100.00 target price on Karman in a research report on Wednesday, May 13th. Citigroup reduced their target price on Karman from $97.00 to $76.00 and set a “buy” rating for the company in a research note on Wednesday, July 1st. Finally, Weiss Ratings lowered shares of Karman from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, June 29th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $95.20.

Karman Price Performance

KRMN opened at $58.75 on Friday. Karman has a 52-week low of $43.68 and a 52-week high of $118.38. The company has a 50 day moving average of $49.86 and a two-hundred day moving average of $72.89. The company has a market cap of $7.79 billion, a P/E ratio of 202.59 and a beta of 0.56. The company has a quick ratio of 3.40, a current ratio of 3.56 and a debt-to-equity ratio of 2.01.

Karman (NYSE:KRMN) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates 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 period last year, the company posted $0.10 earnings per share. The firm’s revenue for the quarter was up 58.2% on a year-over-year basis. On average, analysts expect that Karman will post 0.57 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Legacy Wealth Asset Management LLC increased its holdings in shares of Karman by 32.1% in the 2nd quarter. Legacy Wealth Asset Management LLC now owns 4,013 shares of the company’s stock valued at $200,000 after acquiring an additional 976 shares during the last quarter. Hilltop National Bank boosted its holdings in shares of Karman by 87.8% in the 2nd quarter. Hilltop National Bank now owns 1,258 shares of the company’s stock valued at $63,000 after buying an additional 588 shares during the period. CX Institutional acquired a new stake in Karman during the second quarter worth about $28,000. BankChampaign National Association acquired a new position in Karman in the first quarter valued at approximately $254,000. Finally, Bank of America Corp DE lifted its holdings in shares of Karman by 123.8% in the 1st quarter. Bank of America Corp DE now owns 459,531 shares of the company’s stock worth $36,785,000 after purchasing an additional 254,161 shares during the last quarter.

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. 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.