Karman (NYSE:KRMN) Hits New 1-Year High – Here’s What Happened

Karman Holdings Inc. (NYSE:KRMN)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $45.75 and last traded at $45.75, with a volume of 1790 shares trading hands. The stock had previously closed at $45.29.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on KRMN shares. William Blair started coverage on Karman in a research note on Monday, March 10th. They issued an “outperform” rating for the company. Evercore ISI began coverage on Karman in a research report on Monday, March 10th. They issued an “outperform” rating and a $38.00 price objective for the company. Royal Bank of Canada boosted their price objective on Karman from $38.00 to $44.00 and gave the stock an “outperform” rating in a report on Wednesday, May 14th. Citigroup assumed coverage on shares of Karman in a research note on Monday, March 10th. They issued a “buy” rating and a $42.00 target price on the stock. Finally, Robert W. Baird raised their price target on Karman from $40.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, May 14th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Karman currently has a consensus rating of “Buy” and an average target price of $43.50.

Karman Stock Performance

The business’s fifty day simple moving average is $36.27.

Karman (NYSE:KRMN) last issued its earnings results on Tuesday, May 13th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. The firm had revenue of $100.12 million for the quarter, compared to analyst estimates of $95.40 million. The company’s quarterly revenue was up 20.6% compared to the same quarter last year.

Hedge Funds Weigh In On Karman

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. purchased a new stake in shares of Karman during the 1st quarter worth about $61,024,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of Karman during the 1st quarter worth about $58,799,000. Invesco Ltd. bought a new stake in shares of Karman during the first quarter worth $50,220,000. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Karman in the first quarter valued at approximately $48,691,000. Finally, Alliancebernstein L.P. bought a new position in shares of Karman in the 1st quarter valued at about $37,182,000.

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.