Van ECK Associates Corp grew its holdings in Karman Holdings Inc. (NYSE:KRMN – Free Report) by 125.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,867,379 shares of the company’s stock after buying an additional 1,594,518 shares during the period. Van ECK Associates Corp owned 2.17% of Karman worth $209,806,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Wells Fargo & Company MN raised its holdings in shares of Karman by 134.9% in the fourth quarter. Wells Fargo & Company MN now owns 112,986 shares of the company’s stock valued at $8,267,000 after buying an additional 64,879 shares during the last quarter. Lord Abbett & CO. LLC raised its holdings in Karman by 12.8% during the fourth quarter. Lord Abbett & CO. LLC now owns 723,232 shares of the company’s stock worth $52,918,000 after purchasing an additional 82,150 shares in the last quarter. Federation des caisses Desjardins du Quebec raised its holdings in Karman by 4,061.3% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 6,242 shares of the company’s stock worth $457,000 after purchasing an additional 6,092 shares in the last quarter. Orion Porfolio Solutions LLC raised its holdings in Karman by 18.2% during the fourth quarter. Orion Porfolio Solutions LLC now owns 5,995 shares of the company’s stock worth $439,000 after purchasing an additional 922 shares in the last quarter. Finally, MetLife Investment Management LLC raised its holdings in Karman by 93.7% during the fourth quarter. MetLife Investment Management LLC now owns 3,283 shares of the company’s stock worth $240,000 after purchasing an additional 1,588 shares in the last quarter.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on KRMN. Needham & Company LLC reissued a “buy” rating and set a $125.00 price target on shares of Karman in a report on Thursday, April 9th. Citigroup cut their price target on shares of Karman from $127.00 to $97.00 and set a “buy” rating for the company in a report on Monday, May 18th. Piper Sandler cut their price target on shares of Karman from $127.00 to $114.00 and set an “overweight” rating for the company in a report on Tuesday, May 19th. BWS Financial reissued a “sell” rating and set a $37.00 price target on shares of Karman in a report on Monday, May 18th. Finally, Robert W. Baird increased their price target on shares of Karman from $115.00 to $135.00 and gave the stock an “outperform” rating in a report on Friday, March 20th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Karman currently has an average rating of “Moderate Buy” and an average price target of $105.60.
Karman Stock Down 4.1%
KRMN stock opened at $47.55 on Friday. The company’s 50 day simple moving average is $68.25 and its 200-day simple moving average is $81.05. The firm has a market capitalization of $6.30 billion, a PE ratio of 206.73 and a beta of 0.32. Karman Holdings Inc. has a 12 month low of $43.49 and a 12 month high of $118.38. The company has a debt-to-equity ratio of 2.08, a current ratio of 3.53 and a quick ratio of 3.38.
Karman (NYSE:KRMN – Get Free Report) last released its quarterly earnings results on Tuesday, May 12th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.08 by $0.03. The business had revenue of $151.21 million for the quarter, compared to analyst estimates of $150.19 million. Karman had a net margin of 5.73% and a return on equity of 14.94%. The company’s quarterly revenue was up 51.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.05 earnings per share. Equities analysts expect that Karman Holdings Inc. will post 0.59 earnings per share for the current fiscal year.
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.
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