Karman (NYSE:KRMN) Stock Rated Outperform in New Coverage at Oppenheimer

Oppenheimer started coverage on shares of Karman (NYSE:KRMN) in a research report sent to investors on Thursday, MarketBeat Ratings reports. The firm issued an outperform rating and a $40.00 price objective on the stock.

A number of other equities research analysts have also recently weighed in on the company. Citigroup increased 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 initiated coverage on Karman in a report on Monday, September 14th. They set a “buy” rating and a $63.00 price target for the company. Barclays initiated coverage on shares of Karman in a research report on Friday, October 9th. They set an “overweight” rating and a $79.00 price objective for the company. Piper Sandler reiterated an “overweight” rating and issued a $91.00 price objective (down from $114.00) on shares of Karman in a report on Friday, August 7th. Finally, Royal Bank Of Canada dropped their price objective on shares of Karman from $85.00 to $70.00 and set an “outperform” rating on the stock in a research report on Monday, September 28th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Karman has an average rating of “Moderate Buy” and a consensus price target of $78.29.

Karman Price Performance

NYSE:KRMN opened at $36.80 on Thursday. The company has a quick ratio of 3.40, a current ratio of 3.56 and a debt-to-equity ratio of 2.01. The stock’s 50 day moving average price is $38.70 and its two-hundred day moving average price is $52.26. The firm has a market capitalization of $4.88 billion, a price-to-earnings ratio of 126.89 and a beta of 0.64. Karman has a 12-month low of $29.34 and a 12-month high of $118.38.

Karman (NYSE:KRMN) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. Karman had a return on equity of 15.54% and a net margin of 6.31%. The company had revenue of $182.06 million during the quarter. During the same period in the previous year, the business earned $0.10 earnings per share. The business’s quarterly revenue was up 58.2% on a year-over-year basis. On average, analysts anticipate that Karman will post 0.59 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Trust Advisors LP lifted its holdings in shares of Karman by 3.3% during the first quarter. First Trust Advisors LP now owns 2,891,687 shares of the company’s stock worth $231,480,000 after buying an additional 93,565 shares in the last quarter. Falcon Wealth Planning bought a new stake in shares of Karman in the first quarter valued at about $205,684,000. Congress Asset Management Co. boosted its position in shares of Karman by 23.8% in the third quarter. Congress Asset Management Co. now owns 1,068,811 shares of the company’s stock valued at $34,651,000 after acquiring an additional 205,503 shares during the period. Amundi grew its stake in shares of Karman by 44.6% in the first quarter. Amundi now owns 512,231 shares of the company’s stock valued at $41,004,000 after acquiring an additional 158,068 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Karman by 123.8% in the first quarter. Bank of America Corp DE now owns 459,531 shares of the company’s stock valued at $36,785,000 after acquiring an additional 254,161 shares in the last quarter.

Karman Company Profile

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.