Karman (NYSE:KRMN) Reaches New 1-Year Low – Here’s Why

by · The Markets Daily

Karman Holdings Inc. (NYSE:KRMNGet Free Report) shares reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $33.80 and last traded at $33.5690, with a volume of 374142 shares. The stock had previously closed at $35.21.

Analyst Upgrades and Downgrades

KRMN has been the subject of a number of research reports. Guggenheim initiated coverage on shares of Karman in a research report on Monday, September 14th. They set a “buy” rating and a $63.00 price target for the company. Royal Bank Of Canada reduced their price objective on shares of Karman from $100.00 to $85.00 and set an “outperform” rating on the stock in a research note on Friday, July 24th. Citigroup lifted their target price on Karman from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Piper Sandler reiterated an “overweight” rating and issued a $91.00 price target (down from $114.00) on shares of Karman in a report on Friday, August 7th. Finally, BWS Financial reissued a “sell” rating and set a $37.00 price target on shares of Karman in a research report on Monday, August 10th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $89.45.

View Our Latest Analysis on Karman

Karman Price Performance

The company has a debt-to-equity ratio of 2.01, a current ratio of 3.56 and a quick ratio of 3.40. The company has a 50-day simple moving average of $47.64 and a two-hundred day simple moving average of $62.53. The stock has a market capitalization of $4.51 billion, a price-to-earnings ratio of 117.34 and a beta of 0.47.

Karman (NYSE:KRMNGet Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The firm had revenue of $182.06 million during the quarter. Karman had a net margin of 6.31% and a return on equity of 15.54%. The company’s revenue for the quarter was up 58.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.10 earnings per share. On average, equities research analysts predict that Karman Holdings Inc. will post 0.59 earnings per share for the current year.

Insider Buying and Selling at Karman

In related news, Director David Stinnett acquired 27,000 shares of Karman stock in a transaction that occurred on Wednesday, September 16th. The stock was acquired at an average price of $37.32 per share, with a total value of $1,007,640.00. Following the completion of the acquisition, the director directly owned 3,530,395 shares of the company’s stock, valued at $131,754,341.40. This trade represents a 0.77% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.77% of the stock is currently owned by corporate insiders.

Institutional Trading of Karman

Institutional investors have recently modified their holdings of the company. HBK Investments L P bought a new position in shares of Karman during the 2nd quarter valued at about $998,000. Tidal Investments LLC boosted its holdings in Karman by 78.1% during the second quarter. Tidal Investments LLC now owns 29,199 shares of the company’s stock worth $1,458,000 after buying an additional 12,807 shares in the last quarter. Engineers Gate Manager LP acquired a new position in Karman in the second quarter worth approximately $470,000. NewEdge Advisors LLC increased its holdings in shares of Karman by 163.3% in the second quarter. NewEdge Advisors LLC now owns 3,112 shares of the company’s stock valued at $155,000 after buying an additional 1,930 shares in the last quarter. Finally, Arizona State Retirement System lifted its position in shares of Karman by 13.2% during the 2nd quarter. Arizona State Retirement System now owns 16,456 shares of the company’s stock valued at $821,000 after acquiring an additional 1,915 shares during the last quarter.

Karman Company Profile

(Get Free Report)

Karman is an aerospace and defense company that develops and manufactures mission-critical components, structures and systems for space and defense applications. Its offerings support launch vehicles, satellites, hypersonic systems and other advanced aerospace platforms.

The company provides capabilities across engineered metallic and composite structures, precision components, propulsion-related products and other specialized assemblies. Karman serves government and commercial aerospace customers involved in space launch, national security and defense programs.

Operating through a portfolio of aerospace and defense businesses, Karman combines design, engineering and manufacturing capabilities for complex, high-performance applications.

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