Karman (NYSE:KRMN) Announces Earnings Results, Hits Expectations

Karman (NYSE:KRMN) issued its earnings results on Friday. The company reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10, Zacks reports. The firm had revenue of $121.79 million during the quarter. During the same quarter in the prior year, the firm posted $0.04 earnings per share. Karman’s revenue was up 41.7% on a year-over-year basis.

Karman Trading Down 5.2%

NYSE:KRMN opened at $71.09 on Friday. The company’s 50 day moving average is $72.03 and its 200-day moving average is $55.37. The company has a quick ratio of 2.58, a current ratio of 2.75 and a debt-to-equity ratio of 1.30. Karman has a 12 month low of $25.02 and a 12 month high of $88.82. The firm has a market cap of $9.41 billion and a price-to-earnings ratio of 473.96.

Institutional Trading of Karman

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KRMN. Millennium Management LLC acquired a new stake in shares of Karman during the 1st quarter worth approximately $10,199,000. Goldman Sachs Group Inc. bought a new position in Karman in the 1st quarter valued at $17,371,000. Jane Street Group LLC acquired a new position in Karman during the 1st quarter worth about $532,000. Rhumbline Advisers bought a new stake in shares of Karman during the second quarter valued at approximately $1,316,000. Finally, New York State Common Retirement Fund acquired a new stake in shares of Karman in the second quarter valued at approximately $554,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on KRMN shares. Raymond James Financial began coverage on Karman in a report on Friday, September 5th. They set a “strong-buy” rating and a $100.00 price target for the company. Evercore ISI lifted their target price on shares of Karman from $58.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday, September 29th. Royal Bank Of Canada decreased their target price on shares of Karman from $93.00 to $85.00 and set an “outperform” rating for the company in a research report on Friday. Truist Financial began coverage on shares of Karman in a research note on Friday, October 10th. They set a “buy” rating and a $89.00 price target on the stock. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Karman in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Karman currently has an average rating of “Buy” and a consensus price target of $76.17.

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.