Karman (NYSE:KRMN) Trading Up 8.7% – Still a Buy?

Karman Holdings Inc. (NYSE:KRMN) shot up 8.7% during trading on Thursday . The stock traded as high as $69.72 and last traded at $70.5750. 194,078 shares traded hands during trading, a decline of 85% from the average session volume of 1,320,493 shares. The stock had previously closed at $64.94.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Raymond James Financial began coverage on shares of Karman in a research note on Friday, September 5th. They issued a “strong-buy” rating and a $100.00 price objective for the company. Evercore ISI raised their price objective on Karman from $58.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, September 29th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Karman in a report on Monday. Citigroup initiated coverage on Karman in a report on Thursday, December 11th. They set a “buy” rating and a $84.00 price target on the stock. Finally, KeyCorp assumed coverage on shares of Karman in a research report on Thursday. They set an “overweight” rating and a $80.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $80.43.

Karman Price Performance

The firm has a market cap of $9.53 billion and a price-to-earnings ratio of 288.20. The company has a current ratio of 2.86, a quick ratio of 2.69 and a debt-to-equity ratio of 1.27. The business’s 50-day simple moving average is $71.32 and its two-hundred day simple moving average is $60.50.

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

Insider Activity at Karman

In related news, CFO Michael Willis sold 115,000 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $58.63, for a total transaction of $6,742,450.00. Following the completion of the sale, the chief financial officer owned 859,709 shares of the company’s stock, valued at $50,404,738.67. This trade represents a 11.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Stephanie Sawhill sold 62,000 shares of the stock in a transaction that occurred on 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 transaction, the insider owned 504,939 shares in the company, valued at $32,280,750.27. The trade was a 10.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 251,000 shares of company stock worth $15,419,170 in the last 90 days.

Hedge Funds Weigh In On Karman

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new stake in Karman in the 3rd quarter valued at about $29,000. Farther Finance Advisors LLC lifted its holdings in shares of Karman by 56.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock worth $33,000 after purchasing an additional 164 shares in the last quarter. Wexford Capital LP bought a new stake in Karman during the 3rd quarter valued at $41,000. Global Retirement Partners LLC raised its holdings in Karman by 5,718.2% during the third quarter. Global Retirement Partners LLC now owns 640 shares of the company’s stock worth $46,000 after buying an additional 629 shares during the last quarter. Finally, Global Trust Asset Management LLC bought a new position in shares of Karman in the second quarter valued at $50,000.

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. 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.