Karman Holdings Inc. $KRMN Stock Holdings Lessened by Carnegie Investment Counsel

Carnegie Investment Counsel trimmed its stake in Karman Holdings Inc. (NYSE:KRMN) by 3.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 333,030 shares of the company’s stock after selling 12,000 shares during the quarter. Carnegie Investment Counsel owned approximately 0.25% of Karman worth $26,659,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fifth Third Bancorp raised its holdings in Karman by 38,874.1% during the 1st quarter. Fifth Third Bancorp now owns 67,815 shares of the company’s stock worth $5,429,000 after buying an additional 67,641 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Karman in the first quarter worth about $1,126,000. Whittier Trust Co. purchased a new position in shares of Karman in the first quarter worth approximately $2,155,000. PFG Investments LLC acquired a new stake in shares of Karman during the first quarter valued at approximately $722,000. Finally, Keybank National Association OH raised its holdings in shares of Karman by 57.8% during the first quarter. Keybank National Association OH now owns 6,920 shares of the company’s stock valued at $554,000 after acquiring an additional 2,534 shares during the period.

Karman Stock Down 0.1%

KRMN traded down $0.04 on Friday, reaching $50.01. 1,173,823 shares of the company traded hands, compared to its average volume of 3,208,954. The company has a market cap of $6.63 billion, a price-to-earnings ratio of 217.46 and a beta of 0.51. The company has a debt-to-equity ratio of 2.08, a current ratio of 3.53 and a quick ratio of 3.38. The stock’s 50 day moving average price is $55.56 and its 200-day moving average price is $78.75. Karman Holdings Inc. has a 52-week low of $44.00 and a 52-week high of $118.38.

Karman (NYSE:KRMN) last released its earnings results on Tuesday, May 12th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.03. The company had revenue of $151.21 million during the quarter, compared to the consensus estimate of $150.19 million. Karman had a net margin of 5.73% and a return on equity of 14.94%. The company’s revenue was up 51.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.05 EPS. On average, sell-side analysts expect that Karman Holdings Inc. will post 0.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

KRMN has been the topic of several research analyst reports. Piper Sandler lowered their price objective on shares of Karman from $127.00 to $114.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 19th. Needham & Company LLC restated a “buy” rating and issued a $125.00 target price on shares of Karman in a report on Thursday, April 9th. Weiss Ratings cut Karman from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, June 29th. Royal Bank Of Canada reissued an “outperform” rating and set a $100.00 price target on shares of Karman in a research report on Tuesday, June 2nd. Finally, KeyCorp reduced their price objective on Karman from $122.00 to $100.00 and set an “overweight” rating for the company in a research note on Wednesday, May 20th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Karman currently has an average rating of “Moderate Buy” and an average price target of $103.50.

Karman Company 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.