Karman (NYSE:KRMN) Stock Price Down 7.1% – Should You Sell?

Shares of Karman Holdings Inc. (NYSE:KRMN) dropped 7.1% during mid-day trading on Thursday . The company traded as low as $63.27 and last traded at $62.9210. Approximately 93,186 shares changed hands during trading, a decline of 93% from the average daily volume of 1,276,147 shares. The stock had previously closed at $67.74.

Analyst Upgrades and Downgrades

KRMN has been the topic of several recent research reports. Truist Financial initiated coverage on Karman in a research note on Friday, October 10th. They issued a “buy” rating and a $89.00 price target on the stock. Evercore ISI lifted their target price on Karman from $58.00 to $75.00 and gave the company an “outperform” rating in a research report on Monday, September 29th. Royal Bank Of Canada reduced their price target on Karman from $93.00 to $85.00 and set an “outperform” rating for the company in a research report on Friday, November 7th. Raymond James Financial initiated coverage on shares of Karman in a research note on Friday, September 5th. They set a “strong-buy” rating and a $100.00 price target for the company. Finally, Weiss Ratings upgraded shares of Karman from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $76.17.

Karman Trading Down 6.5%

The company has a debt-to-equity ratio of 1.27, a quick ratio of 2.58 and a current ratio of 2.86. The business’s 50-day moving average price is $73.00 and its 200 day moving average price is $56.11. The company has a market cap of $8.38 billion and a P/E ratio of 422.45.

Karman (NYSE:KRMN) last issued its quarterly earnings data on Friday, November 7th. The company reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. The company had revenue of $121.79 million for the quarter. Karman had a net margin of 2.65% and a return on equity of 11.11%. Karman’s revenue for the quarter was up 41.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.04 earnings per share.

Institutional Investors Weigh In On Karman

A number of institutional investors have recently made changes to their positions in the company. Lexington Partners L.P. bought a new position in shares of Karman during the third quarter worth approximately $319,861,000. Donaldson Capital Management LLC bought a new position in Karman in the 3rd quarter valued at approximately $252,803,000. Vanguard Group Inc. boosted its position in Karman by 99.0% in the third quarter. Vanguard Group Inc. now owns 3,720,674 shares of the company’s stock valued at $268,633,000 after buying an additional 1,851,394 shares in the last quarter. First Trust Advisors LP raised its position in Karman by 2,745.0% in the third quarter. First Trust Advisors LP now owns 1,875,197 shares of the company’s stock valued at $135,389,000 after purchasing an additional 1,809,284 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD acquired a new position in Karman in the 1st quarter valued at approximately $58,799,000.

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.