Karman (NYSE:KRMN) Releases Quarterly Earnings Results
by Mitch Edgeman · The Markets DailyKarman (NYSE:KRMN – Get Free Report) issued its quarterly earnings results on Thursday. The company reported $0.19 earnings per share for the quarter, FiscalAI reports. The firm had revenue of $201.62 million during the quarter. Karman had a return on equity of 15.54% and a net margin of 6.31%.
Karman Stock Performance
Shares of NYSE:KRMN traded down $1.77 during trading on Thursday, hitting $32.40. The company’s stock had a trading volume of 5,177,350 shares, compared to its average volume of 2,860,750. 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 firm has a market cap of $4.29 billion, a price-to-earnings ratio of 111.72 and a beta of 0.45. The company has a 50-day moving average of $36.29 and a 200-day moving average of $63.19. Karman has a 12 month low of $29.34 and a 12 month high of $118.38.
Analyst Ratings Changes
KRMN has been the topic of several recent analyst reports. Piper Sandler cut their price objective on shares of Karman from $91.00 to $59.00 and set an “overweight” rating on the stock in a research report on Friday, October 23rd. Citigroup lifted their target price on shares of Karman from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Needham & Company LLC dropped their target price on shares of Karman from $125.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Barclays initiated coverage on shares of Karman in a report on Friday, October 9th. They set an “overweight” rating and a $79.00 price target on the stock. Finally, UBS Group set a $40.00 price target on shares of Karman in a report on Thursday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $75.07.
View Our Latest Research Report on KRMN
Insider Transactions at Karman
In other Karman news, Director David Stinnett purchased 27,000 shares of the firm’s stock in a transaction on Wednesday, September 16th. The shares were acquired at an average cost of $37.32 per share, for a total transaction of $1,007,640.00. Following the completion of the transaction, the director owned 3,530,395 shares of the company’s stock, valued at approximately $131,754,341.40. The trade was a 0.77% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 5.77% of the company’s stock.
Institutional Trading of Karman
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Janney Montgomery Scott LLC grew its position in shares of Karman by 8.1% during the first quarter. Janney Montgomery Scott LLC now owns 3,949 shares of the company’s stock worth $316,000 after purchasing an additional 297 shares in the last quarter. SBI Securities Co. Ltd. raised its stake in Karman by 15.8% during the 3rd quarter. SBI Securities Co. Ltd. now owns 2,526 shares of the company’s stock valued at $82,000 after purchasing an additional 345 shares during the period. Parkside Financial Bank & Trust lifted its holdings in Karman by 3,471.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 500 shares of the company’s stock worth $25,000 after purchasing an additional 486 shares in the last quarter. CX Institutional purchased a new position in Karman in the 2nd quarter worth approximately $28,000. Finally, Hilltop National Bank boosted its stake in Karman by 87.8% in the 2nd quarter. Hilltop National Bank now owns 1,258 shares of the company’s stock worth $63,000 after purchasing an additional 588 shares during the period.
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.
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