Karman (NYSE:KRMN) Stock Rating Reaffirmed as “Overweight” by Piper Sandler

Karman (NYSE:KRMN)‘s stock had its “overweight” rating reaffirmed by research analysts at Piper Sandler in a note issued to investors on Friday, Benzinga reports. They presently have a $60.00 price objective on the stock, up from their prior price objective of $59.00. Piper Sandler‘s target price would indicate a potential upside of 85.20% from the company’s previous close.

Several other equities analysts have also commented on KRMN. Royal Bank Of Canada decreased their price target on Karman from $70.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 28th. Oppenheimer started coverage on Karman in a research report on Thursday, October 22nd. They set an “outperform” rating and a $40.00 price objective for the company. Needham & Company LLC reduced their price objective on shares of Karman from $125.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Barclays assumed coverage on shares of Karman in a report on Friday, October 9th. They issued an “overweight” rating and a $79.00 price objective on the stock. Finally, BWS Financial reaffirmed a “sell” rating and issued a $37.00 target price on shares of Karman in a research report on Monday, August 10th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.14.

Karman Trading Down 5.2%

Shares of Karman stock opened at $32.40 on Friday. The firm has a market capitalization of $4.29 billion, a price-to-earnings ratio of 111.72 and a beta of 0.45. Karman has a fifty-two week low of $29.34 and a fifty-two week high of $118.38. The company has a debt-to-equity ratio of 2.01, a quick ratio of 3.40 and a current ratio of 3.56. The stock has a 50 day moving average of $35.97 and a 200 day moving average of $62.81.

Karman (NYSE:KRMN) last posted its earnings results on Friday, November 6th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.03. Karman had a return on equity of 15.54% and a net margin of 6.31%. The company had revenue of $201.62 million during the quarter. During the same period last year, the business earned $0.10 EPS. Karman’s revenue was up 65.6% compared to the same quarter last year. As a group, research analysts predict that Karman will post 0.59 earnings per share for the current year.

Insider Buying and Selling

In other news, Director David Stinnett purchased 27,000 shares of the firm’s stock in a transaction on Wednesday, September 16th. The shares were bought at an average cost of $37.32 per share, for a total transaction of $1,007,640.00. Following the completion of the purchase, the director directly owned 3,530,395 shares of the company’s stock, valued at approximately $131,754,341.40. This trade represents a 0.77% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 5.77% of the stock is owned by company insiders.

Institutional Investors Weigh In On Karman

Several institutional investors and hedge funds have recently modified their holdings of the company. Parkside Financial Bank & Trust grew its stake in shares of Karman by 3,471.4% in the second quarter. Parkside Financial Bank & Trust now owns 500 shares of the company’s stock worth $25,000 after acquiring an additional 486 shares in the last quarter. CX Institutional acquired a new stake in shares of Karman in the second quarter valued at $28,000. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Karman in the third quarter valued at $29,000. Tsfg LLC acquired a new stake in shares of Karman in the second quarter valued at $30,000. Finally, Pinnacle Wealth Planning Services Inc. purchased a new position in Karman in the third quarter valued at $32,000.

Karman Company Profile

Karman Holdings Corp., doing business as Karman Space & Defense, is an aerospace and defense company that develops and manufactures mission-critical components, assemblies and structures. Its products are used in space-launch vehicles, missiles, hypersonic systems and other defense applications where performance, reliability and precision are essential.

The company’s capabilities include the production of composite and metallic structures, propulsion-related components, precision-machined parts and other highly engineered hardware.