Karman (NYSE:KRMN) Price Target Cut to $85.00 by Analysts at Royal Bank Of Canada

Karman (NYSE:KRMN) had its target price lowered by Royal Bank Of Canada from $93.00 to $85.00 in a report released on Friday morning,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the stock.

Several other equities analysts have also weighed in on KRMN. Truist Financial started coverage on shares of Karman in a research report on Friday, October 10th. They set a “buy” rating and a $89.00 price target for the company. Evercore ISI boosted their target price on shares of Karman from $58.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday, September 29th. Weiss Ratings restated a “sell (d+)” rating on shares of Karman in a research note on Wednesday, October 8th. Finally, Raymond James Financial began coverage on shares of Karman in a report on Friday, September 5th. They issued a “strong-buy” rating and a $100.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Karman has a consensus rating of “Buy” and an average target price of $76.17.

Karman Stock Performance

Shares of KRMN traded down $3.89 on Friday, reaching $71.09. 5,430,230 shares of the company’s stock traded hands, compared to its average volume of 1,273,427. The stock’s 50 day simple moving average is $72.03 and its two-hundred day simple moving average is $55.22. The stock has a market cap of $9.41 billion and a PE ratio of 473.96. Karman has a 52-week low of $25.02 and a 52-week high of $88.82. The company has a current ratio of 2.75, a quick ratio of 2.58 and a debt-to-equity ratio of 1.30.

Karman (NYSE:KRMN) last posted its quarterly earnings data on Friday, November 7th. The company reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. The business had revenue of $121.79 million during the quarter. During the same quarter in the prior year, the company posted $0.04 earnings per share. The company’s revenue was up 41.7% on a year-over-year basis.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC grew its stake in Karman by 56.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock valued at $33,000 after acquiring an additional 164 shares during the last quarter. Global Retirement Partners LLC increased its stake in shares of Karman by 5,718.2% during the 3rd quarter. Global Retirement Partners LLC now owns 640 shares of the company’s stock worth $46,000 after purchasing an additional 629 shares in the last quarter. Global Trust Asset Management LLC acquired a new position in shares of Karman during the 2nd quarter worth approximately $50,000. Wilmington Savings Fund Society FSB purchased a new stake in Karman in the 3rd quarter valued at approximately $101,000. Finally, ORG Wealth Partners LLC acquired a new stake in Karman during the 3rd quarter valued at $116,000.

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.