Karman (NYSE:KRMN) Hits New 1-Year High – Still a Buy?

Karman Holdings Inc. (NYSE:KRMN)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $40.25 and last traded at $40.25, with a volume of 5354 shares changing hands. The stock had previously closed at $38.80.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on KRMN. Citigroup assumed coverage on shares of Karman in a report on Monday, March 10th. They issued a “buy” rating and a $42.00 price objective on the stock. Baird R W upgraded shares of Karman to a “strong-buy” rating in a report on Monday, March 10th. William Blair began coverage on shares of Karman in a research note on Monday, March 10th. They issued an “outperform” rating on the stock. Robert W. Baird began coverage on Karman in a research report on Monday, March 10th. They set an “outperform” rating and a $40.00 target price on the stock. Finally, Royal Bank of Canada increased their price objective on shares of Karman from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Thursday, April 3rd. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Karman presently has an average rating of “Buy” and an average price target of $39.50.

Karman Stock Up 2.0%

The company has a 50 day moving average of $33.62.

Institutional Trading of Karman

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new stake in Karman during the 1st quarter worth about $107,000. US Bancorp DE purchased a new stake in Karman in the 1st quarter valued at approximately $124,000. Hollencrest Capital Management purchased a new position in Karman in the first quarter worth $155,000. Phoenix Financial Ltd. acquired a new stake in shares of Karman in the first quarter valued at about $435,000. Finally, TD Asset Management Inc purchased a new stake in shares of Karman during the 1st quarter worth approximately $925,000.

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.