Karman (NYSE:KRMN) Stock Jumps 9.2% – Still a Buy?

Shares of Karman Holdings Inc. (NYSE:KRMN) rose 9.2% on Thursday. The company traded as high as $41.70 and last traded at $41.4840. 1,609,343 shares changed hands during mid-day trading, a decline of 43% from the average session volume of 2,831,442 shares. The stock had previously closed at $37.98.

Analysts Set New Price Targets

Several research firms have recently commented on KRMN. BWS Financial reaffirmed a “sell” rating and issued a $37.00 target price on shares of Karman in a research report on Monday, August 10th. Truist Financial lowered their target price on Karman from $118.00 to $85.00 and set a “buy” rating for the company in a report on Thursday, August 13th. Citigroup raised their price objective on Karman from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Weiss Ratings raised Karman from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Finally, Oppenheimer began coverage on Karman in a research note on Thursday, October 22nd. They set an “outperform” rating and a $40.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $77.57.

Karman Stock Performance

The business has a fifty day moving average of $37.74 and a 200 day moving average of $64.91. The company has a market cap of $5.50 billion, a P/E ratio of 143.07 and a beta of 0.64. 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 posted its quarterly earnings data on Thursday, August 6th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.13 by $0.01. The business had revenue of $182.06 million for the quarter. Karman had a net margin of 6.31% and a return on equity of 15.54%. The company’s revenue was up 58.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.10 EPS. On average, equities analysts predict that Karman Holdings Inc. will post 0.59 EPS for the current year.

Insider Activity at Karman

In other Karman news, Director David Stinnett acquired 27,000 shares of the company’s stock in a transaction dated Wednesday, September 16th. The stock was purchased at an average price of $37.32 per share, with a total value of $1,007,640.00. Following the completion of the purchase, the director directly owned 3,530,395 shares in the company, valued at approximately $131,754,341.40. The trade was a 0.77% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.77% of the stock is owned by insiders.

Hedge Funds Weigh In On Karman

Several hedge funds have recently added to or reduced their stakes in the company. Grandeur Peak Global Advisors LLC increased its stake in Karman by 98.4% during the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 59,025 shares of the company’s stock valued at $2,947,000 after purchasing an additional 29,281 shares in the last quarter. Readystate Asset Management LP purchased a new position in shares of Karman during the 2nd quarter worth approximately $5,675,000. Vontobel Holding Ltd. grew its holdings in shares of Karman by 53.3% in the third quarter. Vontobel Holding Ltd. now owns 131,881 shares of the company’s stock valued at $4,276,000 after purchasing an additional 45,847 shares in the last quarter. Wellington Management Group LLP acquired a new stake in shares of Karman in the 2nd quarter valued at $16,086,000. Finally, Bouvel Investment Partners LLC purchased a new position in shares of Karman in the 3rd quarter valued at $1,841,000.

About Karman

Karman Holdings Corp., doing business as Karman Space & Defense, is an aerospace and defense company that develops and manufactures mission-critical components, assemblies and structures. Its products are used in space-launch vehicles, missiles, hypersonic systems and other defense applications where performance, reliability and precision are essential.

The company’s capabilities include the production of composite and metallic structures, propulsion-related components, precision-machined parts and other highly engineered hardware.