Royal Bank Of Canada Cuts Karman (NYSE:KRMN) Price Target to $70.00

Karman (NYSE:KRMN – Free Report) had its price objective cut by Royal Bank Of Canada from $85.00 to $70.00 in a report issued on Monday,Benzinga reports. They currently have an outperform rating on the stock.

Other equities research analysts have also issued reports about the company. Weiss Ratings lowered Karman from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, September 10th. Truist Financial dropped their price objective on Karman from $118.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, August 13th. Needham & Company LLC cut their price objective on shares of Karman from $125.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. Citigroup lifted their target price on shares of Karman from $76.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Finally, Guggenheim initiated coverage on shares of Karman in a research report on Monday, September 14th. They issued a “buy” rating and a $63.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $88.09.

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Karman Price Performance

Shares of NYSE:KRMN opened at $32.44 on Monday. The firm has a market cap of $4.30 billion, a price-to-earnings ratio of 111.87 and a beta of 0.47. Karman has a 1 year low of $32.20 and a 1 year high of $118.38. The company has a current ratio of 3.56, a quick ratio of 3.40 and a debt-to-equity ratio of 2.01. The business has a fifty day simple moving average of $45.81 and a 200 day simple moving average of $59.20.

Karman (NYSE:KRMN – Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. Karman had a return on equity of 15.54% and a net margin of 6.31%.The firm had revenue of $182.06 million for the quarter. During the same quarter last year, the firm earned $0.10 EPS. The business’s revenue for the quarter was up 58.2% compared to the same quarter last year. As a group, sell-side analysts predict that Karman will post 0.59 earnings per share for the current fiscal year.

Insider Activity

In related news, Director David Stinnett purchased 27,000 shares of the firm’s stock in a transaction dated Wednesday, September 16th. The stock was bought at an average price of $37.32 per share, for a total transaction of $1,007,640.00. Following the purchase, the director owned 3,530,395 shares in the company, valued at $131,754,341.40. The trade was a 0.77% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 5.77% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in KRMN. HBK Investments L P acquired a new position in Karman during the second quarter valued at approximately $998,000. Tidal Investments LLC lifted its stake in shares of Karman by 78.1% in the second quarter. Tidal Investments LLC now owns 29,199 shares of the company’s stock worth $1,458,000 after buying an additional 12,807 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in shares of Karman in the second quarter worth $470,000. NewEdge Advisors LLC boosted its holdings in shares of Karman by 163.3% during the 2nd quarter. NewEdge Advisors LLC now owns 3,112 shares of the company’s stock worth $155,000 after buying an additional 1,930 shares during the period. Finally, Arizona State Retirement System boosted its holdings in shares of Karman by 13.2% during the 2nd quarter. Arizona State Retirement System now owns 16,456 shares of the company’s stock worth $821,000 after buying an additional 1,915 shares during the period.

About Karman

(Get Free Report)

Karman (NYSE: KRMN), through its subsidiaries, provides engineered components and manufacturing services for the aerospace and defense industries. The company focuses on mission-critical products used in space launch vehicles, missile systems, hypersonic platforms and other high-performance aerospace applications.

Its capabilities include the design and production of composite and metallic structures, precision-machined components, complex assemblies, thermal protection products and other specialized hardware.

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