Karman (NYSE:KRMN) Shares Gap Down on Analyst Downgrade

Karman Holdings Inc. (NYSE:KRMN)’s share price gapped down prior to trading on Friday after Royal Bank Of Canada lowered their price target on the stock from $93.00 to $85.00. The stock had previously closed at $74.98, but opened at $64.68. Royal Bank Of Canada currently has an outperform rating on the stock. Karman shares last traded at $60.9640, with a volume of 420,984 shares changing hands.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Farther Finance Advisors LLC boosted its position in shares of Karman by 56.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock worth $33,000 after purchasing an additional 164 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in Karman by 5,718.2% during the third quarter. Global Retirement Partners LLC now owns 640 shares of the company’s stock worth $46,000 after buying an additional 629 shares in the last quarter. Global Trust Asset Management LLC acquired a new position in Karman during the second quarter worth about $50,000. Penserra Capital Management LLC purchased a new position in Karman in the second quarter valued at about $95,000. Finally, Amalgamated Bank purchased a new position in Karman in the second quarter valued at about $100,000.

Karman Stock Performance

The stock’s 50-day moving average price is $72.03 and its 200-day moving average price is $55.37. The company has a market capitalization of $9.41 billion and a price-to-earnings ratio of 473.96. The company has a debt-to-equity ratio of 1.30, a quick ratio of 2.58 and a current ratio of 2.75.

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

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.