Karman (NYSE:KRMN) Earns Buy Rating from Analysts at Citigroup

Citigroup initiated coverage on shares of Karman (NYSE:KRMN) in a report issued on Thursday, Marketbeat.com reports. The firm issued a buy rating and a $84.00 price target on the stock.

Several other research analysts also recently commented on KRMN. Raymond James Financial assumed coverage on shares of Karman in a research note on Friday, September 5th. They issued a “strong-buy” rating and a $100.00 price target on the stock. Evercore ISI raised their target price on shares of Karman from $58.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday, September 29th. Truist Financial began coverage on Karman in a report on Friday, October 10th. They issued a “buy” rating and a $89.00 price target for the company. Royal Bank Of Canada reduced their price objective on Karman from $93.00 to $85.00 and set an “outperform” rating on the stock in a report on Friday, November 7th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Karman in a report on Monday, December 8th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $80.50.

Karman Stock Down 1.2%

Shares of NYSE KRMN opened at $68.57 on Thursday. Karman has a 1 year low of $25.02 and a 1 year high of $88.82. The firm has a 50-day simple moving average of $72.03 and a two-hundred day simple moving average of $59.76. The company has a market cap of $9.07 billion and a P/E ratio of 274.28. The company has a debt-to-equity ratio of 1.27, a current ratio of 2.86 and a quick ratio of 2.69.

Karman (NYSE:KRMN) last issued 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 return on equity of 11.11% and a net margin of 2.65%.The firm had revenue of $121.79 million for the quarter. During the same quarter in the previous year, the company posted $0.04 earnings per share. The company’s quarterly revenue was up 41.7% compared to the same quarter last year.

Insider Buying and Selling

In other news, COO Jonathan Beaudoin sold 74,000 shares of the business’s stock in a transaction on Thursday, November 13th. The stock was 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 directly owned 666,861 shares of the company’s stock, valued at approximately $42,472,377.09. The trade was a 9.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Michael Willis sold 115,000 shares of the company’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $58.63, for a total value of $6,742,450.00. Following the sale, the chief financial officer owned 859,709 shares of the company’s stock, valued at $50,404,738.67. This trade represents a 11.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 251,000 shares of company stock valued at $15,419,170 over the last 90 days.

Hedge Funds Weigh In On Karman

A number of large investors have recently added to or reduced their stakes in KRMN. US Bancorp DE bought a new stake in shares of Karman in the 1st quarter valued at about $124,000. Vanguard Group Inc. purchased a new stake in shares of Karman during the 1st quarter valued at $61,024,000. Charles Schwab Investment Management Inc. acquired a new stake in shares of Karman in the 1st quarter worth $4,293,000. Invesco Ltd. purchased a new position in Karman during the 1st quarter worth $50,220,000. Finally, Lord Abbett & CO. LLC acquired a new position in Karman during the 1st quarter valued at about $14,787,000.

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.