Karman (NYSE:KRMN) Shares Up 7.4% – Here’s What Happened

Karman Holdings Inc. (NYSE:KRMN) shot up 7.4% during mid-day trading on Tuesday . The stock traded as high as $51.64 and last traded at $51.82. 2,318,356 shares were traded during trading, a decline of 0% from the average session volume of 2,327,142 shares. The stock had previously closed at $48.27.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Weiss Ratings upgraded Karman from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Piper Sandler reduced their price objective on Karman from $127.00 to $114.00 and set an “overweight” rating for the company in a research report on Tuesday, May 19th. Evercore set a $100.00 target price on Karman in a research note on Wednesday, May 13th. BWS Financial reiterated a “sell” rating and set a $37.00 price objective on shares of Karman in a research note on Monday, May 18th. Finally, Needham & Company LLC restated a “buy” rating and issued a $125.00 target price on shares of Karman in a research note on Thursday, April 9th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Karman presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.60.

Karman Stock Performance

The stock has a 50-day moving average of $67.49 and a 200-day moving average of $81.05. The firm has a market cap of $6.93 billion, a price-to-earnings ratio of 225.01 and a beta of 0.33. The company has a debt-to-equity ratio of 2.08, a quick ratio of 3.38 and a current ratio of 3.53.

Karman (NYSE:KRMN) last posted its quarterly earnings results on Tuesday, May 12th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.03. The firm had revenue of $151.21 million for the quarter, compared to analyst estimates of $150.19 million. Karman had a return on equity of 14.94% and a net margin of 5.73%.The business’s quarterly revenue was up 51.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.05 EPS. As a group, analysts anticipate that Karman Holdings Inc. will post 0.59 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. AustralianSuper Pty Ltd purchased a new position in Karman in the fourth quarter worth $33,679,000. UBS Group AG raised its stake in shares of Karman by 103.7% during the 4th quarter. UBS Group AG now owns 926,976 shares of the company’s stock valued at $67,827,000 after purchasing an additional 471,894 shares during the period. Congress Asset Management Co. purchased a new position in Karman during the fourth quarter worth about $24,212,000. Aubrey Capital Management Ltd purchased a new position in Karman during the fourth quarter worth about $3,687,000. Finally, Mass General Brigham Inc purchased a new position in Karman during the fourth quarter worth about $114,295,000.

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. 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.