Congress Asset Management Co. Buys New Stake in Karman Holdings Inc. $KRMN

Congress Asset Management Co. acquired a new position in shares of Karman Holdings Inc. (NYSE:KRMN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 330,898 shares of the company’s stock, valued at approximately $24,212,000.

Several other institutional investors and hedge funds also recently modified their holdings of KRMN. GAMMA Investing LLC lifted its position in Karman by 83.7% during the 4th quarter. GAMMA Investing LLC now owns 373 shares of the company’s stock worth $27,000 after acquiring an additional 170 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new stake in Karman in the third quarter valued at approximately $29,000. Farther Finance Advisors LLC raised its stake in shares of Karman by 56.4% during the third quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock valued at $33,000 after purchasing an additional 164 shares during the period. Wexford Capital LP purchased a new stake in shares of Karman during the third quarter valued at approximately $41,000. Finally, Hilltop National Bank acquired a new position in shares of Karman during the fourth quarter worth $42,000.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. BWS Financial restated a “sell” rating and issued a $37.00 target price on shares of Karman in a research note on Thursday, January 22nd. Royal Bank Of Canada lifted their price target on shares of Karman from $85.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, January 22nd. Weiss Ratings reissued a “hold (c-)” rating on shares of Karman in a research report on Monday, December 29th. Raymond James Financial restated a “strong-buy” rating and set a $130.00 target price on shares of Karman in a research note on Thursday, January 22nd. Finally, Piper Sandler raised Karman from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $110.00 to $127.00 in a research report on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Karman presently has an average rating of “Moderate Buy” and an average target price of $116.90.

Karman Stock Performance

KRMN stock opened at $102.18 on Wednesday. The stock’s 50 day simple moving average is $97.54 and its 200 day simple moving average is $81.84. Karman Holdings Inc. has a 12-month low of $25.02 and a 12-month high of $118.38. The firm has a market cap of $13.52 billion and a P/E ratio of 408.70. The company has a current ratio of 2.86, a quick ratio of 2.69 and a debt-to-equity ratio of 1.27.

Karman 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.