Karman (NYSE:KRMN) Price Target Raised to $80.00

Karman (NYSE:KRMN) had its price target lifted by Barclays from $79.00 to $80.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts have also issued reports on KRMN. Citigroup lifted their price target on Karman from $76.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Guggenheim started coverage on Karman in a research report on Monday, September 14th. They set a “buy” rating and a $63.00 price objective for the company. Royal Bank Of Canada reduced their price objective on Karman from $70.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 28th. KeyCorp decreased their target price on Karman from $100.00 to $65.00 and set an “overweight” rating on the stock in a research report on Monday, November 2nd. Finally, BWS Financial reissued a “sell” rating and set a $37.00 target price on shares of Karman in a research note on Monday, August 10th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Karman has an average rating of “Moderate Buy” and an average target price of $73.07.

Karman Stock Performance

NYSE KRMN opened at $44.75 on Monday. The company has a current ratio of 3.10, a quick ratio of 2.87 and a debt-to-equity ratio of 2.21. The firm has a market capitalization of $5.93 billion, a price-to-earnings ratio of 79.84 and a beta of 0.45. The firm’s 50 day simple moving average is $36.05 and its 200 day simple moving average is $61.55. Karman has a 1 year low of $29.34 and a 1 year high of $118.38.

Karman (NYSE:KRMN) last announced its quarterly earnings data on Friday, November 6th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. Karman had a net margin of 7.54% and a return on equity of 17.68%. The business had revenue of $201.62 million for the quarter. During the same period last year, the business earned $0.10 earnings per share. The business’s revenue was up 65.6% compared to the same quarter last year. As a group, research analysts expect that Karman will post 0.61 earnings per share for the current fiscal year.

Insider Transactions at Karman

In other Karman news, Director David Stinnett bought 27,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 16th. The shares were bought at an average price of $37.32 per share, for a total transaction of $1,007,640.00. Following the transaction, the director directly owned 3,530,395 shares in the company, valued at approximately $131,754,341.40. This trade represents a 0.77% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.77% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Karman

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

About Karman

Karman Holdings, Inc. is an aerospace and defense company that designs and manufactures systems and components for missile and space programs. Its products support applications including propulsion, payload delivery, launch vehicles and spacecraft. The company supplies mission-critical hardware such as rocket motor components, separation systems, structures and related assemblies. Its products are used by government and commercial customers across the United States and in international markets. Karman brings together businesses with capabilities in engineering, manufacturing and testing for aerospace and defense applications.