Karman’s (KRMN) “Overweight” Rating Reaffirmed at Piper Sandler

Karman (NYSE:KRMN)‘s stock had its “overweight” rating reiterated by Piper Sandler in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $60.00 price target on the stock, up from their previous price target of $59.00. Piper Sandler‘s price target points to a potential upside of 85.20% from the company’s previous close.

Several other research analysts have also recently commented on KRMN. UBS Group set a $40.00 price target on shares of Karman in a report on Thursday, October 22nd. Truist Financial reduced their price objective on shares of Karman from $118.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, August 13th. Citigroup lifted their price objective on shares of Karman from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Barclays assumed coverage on shares of Karman in a research note on Friday, October 9th. They set an “overweight” rating and a $79.00 target price for the company. Finally, Oppenheimer assumed coverage on Karman in a report on Thursday, October 22nd. They issued an “outperform” rating and a $40.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Karman currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.14.

Karman Stock Performance

Shares of Karman stock opened at $32.40 on Friday. The business has a 50-day simple moving average of $35.97 and a 200-day simple moving average of $62.81. The company has a debt-to-equity ratio of 2.01, a quick ratio of 3.40 and a current ratio of 3.56. Karman has a one year low of $29.34 and a one year high of $118.38. The company has a market cap of $4.29 billion, a PE ratio of 111.72 and a beta of 0.45.

Karman (NYSE:KRMN) last issued its earnings results on Friday, November 6th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.03. Karman had a net margin of 6.31% and a return on equity of 15.54%. The firm had revenue of $201.62 million for the quarter. During the same period last year, the business earned $0.10 EPS. The firm’s revenue was up 65.6% compared to the same quarter last year. On average, equities research analysts forecast that Karman will post 0.59 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Parkside Financial Bank & Trust lifted its holdings in shares of Karman by 3,471.4% during the 2nd quarter. Parkside Financial Bank & Trust now owns 500 shares of the company’s stock worth $25,000 after acquiring an additional 486 shares during the period. CX Institutional purchased a new stake in Karman in the second quarter valued at approximately $28,000. Eurizon Capital SGR S.p.A. purchased a new stake in Karman in the third quarter valued at approximately $29,000. Tsfg LLC acquired a new position in Karman during the second quarter worth approximately $30,000. Finally, Pinnacle Wealth Planning Services Inc. acquired a new position in Karman during the third quarter worth approximately $32,000.

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.