Karman (NYSE:KRMN) Stock Rating Upgraded by KeyCorp

Karman (NYSE:KRMN) was upgraded by equities researchers at KeyCorp to a “strong-buy” rating in a research report issued on Thursday,Zacks.com reports.

Several other research analysts also recently weighed in on KRMN. Citigroup assumed coverage on shares of Karman in a report on Thursday, December 11th. They issued a “buy” rating and a $84.00 target price for the company. Raymond James Financial initiated coverage on Karman in a research report on Friday, September 5th. They issued a “strong-buy” rating and a $100.00 price objective on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Karman in a research note on Monday. Royal Bank Of Canada decreased their target price on Karman from $93.00 to $85.00 and set an “outperform” rating on the stock in a research note on Friday, November 7th. Finally, Truist Financial assumed coverage on Karman in a research note on Friday, October 10th. They issued a “buy” rating and a $89.00 price target for the company. Three equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $80.43.

Karman Trading Up 5.8%

Karman stock opened at $72.05 on Thursday. Karman has a 12-month low of $25.02 and a 12-month high of $88.82. The firm has a market capitalization of $9.53 billion and a price-to-earnings ratio of 288.20. The firm has a 50 day moving average of $71.32 and a 200 day moving average of $60.50. The company has a current ratio of 2.86, a quick ratio of 2.69 and a debt-to-equity ratio of 1.27.

Karman (NYSE:KRMN) last posted 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 business had revenue of $121.79 million during the quarter. Karman had a net margin of 2.65% and a return on equity of 11.11%. The business’s revenue for the quarter was up 41.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.04 earnings per share.

Insider Activity

In other news, insider Stephanie Sawhill sold 62,000 shares of Karman stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $63.93, for a total value of $3,963,660.00. Following the sale, the insider directly owned 504,939 shares of the company’s stock, valued at approximately $32,280,750.27. The trade was a 10.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jonathan Beaudoin sold 74,000 shares of the business’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $63.69, for a total value of $4,713,060.00. Following the completion of the sale, the chief operating officer owned 666,861 shares in the company, valued at $42,472,377.09. This represents a 9.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 251,000 shares of company stock worth $15,419,170 over the last 90 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of KRMN. Lexington Partners L.P. bought a new stake in Karman in the third quarter worth $319,861,000. Donaldson Capital Management LLC purchased a new position in shares of Karman in the 3rd quarter worth $252,803,000. Schusterman Interests LLC bought a new stake in shares of Karman in the 3rd quarter worth about $148,024,000. Vanguard Group Inc. raised its position in shares of Karman by 99.0% during the 3rd 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. Finally, First Trust Advisors LP lifted its holdings in shares of Karman by 2,745.0% in the 3rd quarter. First Trust Advisors LP now owns 1,875,197 shares of the company’s stock valued at $135,389,000 after acquiring an additional 1,809,284 shares during the last quarter.

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. We estimate that no single program accounted for more than 10% of sales for the nine months ended September 30, 2024 or the twelve months ended December 31, 2023, with revenue from over 100 active programs supporting current production and next-generation space, missile, hypersonic, and defense applications.