Karman (NYSE:KRMN) Trading Down 4.2% – Here’s What Happened

Shares of Karman Holdings Inc. (NYSE:KRMN) dropped 4.2% on Tuesday . The company traded as low as $74.31 and last traded at $74.3250. Approximately 149,095 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 1,354,917 shares. The stock had previously closed at $77.57.

Analysts Set New Price Targets

A number of research analysts have recently commented on KRMN shares. Truist Financial began coverage on shares of Karman in a report on Friday, October 10th. They issued a “buy” rating and a $89.00 price target on the stock. Evercore ISI boosted their price objective on shares of Karman from $58.00 to $75.00 and gave the company an “outperform” rating in a research report on Monday, September 29th. Raymond James Financial assumed coverage on shares of Karman in a research report on Friday, September 5th. They set a “strong-buy” rating and a $100.00 target price on the stock. Royal Bank Of Canada decreased their price target on shares of Karman from $93.00 to $85.00 and set an “outperform” rating for the company in a research note on Friday, November 7th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Karman in a research note on Monday. Two investment 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, the company presently has a consensus rating of “Buy” and an average price target of $80.43.

Karman Trading Down 2.1%

The company has a debt-to-equity ratio of 1.27, a quick ratio of 2.69 and a current ratio of 2.86. The company has a market capitalization of $9.66 billion and a P/E ratio of 292.12. The company’s fifty day simple moving average is $71.42 and its 200-day simple moving average is $62.40.

Karman (NYSE:KRMN) last announced its quarterly earnings results on Friday, November 7th. The company reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. Karman had a net margin of 2.65% and a return on equity of 11.11%. The firm had revenue of $121.79 million during the quarter. During the same period in the previous year, the company posted $0.04 EPS. Karman’s revenue for the quarter was up 41.7% on a year-over-year basis.

Insider Buying and Selling at Karman

In other Karman news, insider Stephanie Sawhill sold 62,000 shares of the stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $63.93, for a total transaction of $3,963,660.00. Following the sale, the insider owned 504,939 shares of the company’s stock, valued at approximately $32,280,750.27. This trade represents a 10.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jonathan Beaudoin sold 74,000 shares of Karman stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $63.69, for a total value of $4,713,060.00. Following the completion of the transaction, 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. In the last 90 days, insiders have sold 251,000 shares of company stock valued at $15,419,170.

Hedge Funds Weigh In On Karman

A number of large investors have recently added to or reduced their stakes in the company. Lexington Partners L.P. bought a new stake in shares of Karman in the 3rd quarter valued at about $319,861,000. Vanguard Group Inc. raised its stake 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 worth $268,633,000 after acquiring an additional 1,851,394 shares in the last quarter. Donaldson Capital Management LLC purchased a new stake in Karman during the third quarter valued at approximately $252,803,000. Invesco Ltd. boosted its stake in Karman by 68.6% in the third quarter. Invesco Ltd. now owns 3,211,187 shares of the company’s stock valued at $231,848,000 after acquiring an additional 1,306,135 shares in the last quarter. Finally, Bamco Inc. NY grew its holdings in Karman by 0.6% in the second quarter. Bamco Inc. NY now owns 2,415,134 shares of the company’s stock worth $121,650,000 after purchasing an additional 14,486 shares during the last quarter.

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.