Karman (NYSE:KRMN) Shares Gap Up – Here’s Why

Karman Holdings Inc. (NYSE:KRMNGet Free Report)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $45.83, but opened at $48.49. Karman shares last traded at $50.1710, with a volume of 551,989 shares trading hands.

Analysts Set New Price Targets

Several analysts have issued reports on KRMN shares. Needham & Company LLC restated a “buy” rating and set a $125.00 price objective on shares of Karman in a research note on Thursday, April 9th. Evercore set a $100.00 price target on Karman in a report on Wednesday, May 13th. Robert W. Baird upped their price target on Karman from $115.00 to $135.00 and gave the company an “outperform” rating in a research report on Friday, March 20th. KeyCorp reduced their price objective on Karman from $122.00 to $100.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 20th. Finally, Truist Financial upgraded shares of Karman to a “strong-buy” rating in a research note on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $103.50.

Get Our Latest Research Report on Karman

Karman Stock Down 3.0%

The company has a current ratio of 3.53, a quick ratio of 3.38 and a debt-to-equity ratio of 2.08. The firm has a market cap of $6.27 billion, a price-to-earnings ratio of 205.79 and a beta of 0.51. The stock has a 50-day moving average of $54.21 and a 200-day moving average of $77.82.

Karman (NYSE:KRMNGet Free Report) last announced its quarterly earnings results on Tuesday, May 12th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter was up 51.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.05 earnings per share. As a group, sell-side analysts forecast that Karman Holdings Inc. will post 0.58 EPS for the current fiscal year.

Hedge Funds Weigh In On Karman

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

Karman Company Profile

(Get Free Report)

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.

Further Reading

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