Barclays upgraded shares of Karman (NYSE:KRMN – Free Report) to a strong-buy rating in a research note issued to investors on Friday morning,Zacks reports.
Other equities analysts have also recently issued reports about the stock. Truist Financial decreased their price target on shares of Karman from $118.00 to $85.00 and set a “buy” rating for the company in a research report on Thursday, August 13th. Piper Sandler reissued an “overweight” rating and issued a $91.00 price objective (down from $114.00) on shares of Karman in a research note on Friday, August 7th. Citigroup raised their target price on Karman from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Weiss Ratings upgraded Karman from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday. Finally, Needham & Company LLC decreased their price target on Karman from $125.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $87.33.
View Our Latest Report on KRMN
Karman Stock Performance
Karman (NYSE:KRMN – Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. Karman had a net margin of 6.31% and a return on equity of 15.54%. The business had revenue of $182.06 million during the quarter. During the same quarter last year, the business earned $0.10 EPS. The firm’s quarterly revenue was up 58.2% compared to the same quarter last year. Equities research analysts anticipate that Karman will post 0.59 earnings per share for the current year.
Insider Buying and Selling
In other Karman news, Director David Stinnett bought 27,000 shares of the stock in a transaction on Wednesday, September 16th. The stock was acquired at an average cost of $37.32 per share, for a total transaction of $1,007,640.00. Following the completion of the acquisition, the director owned 3,530,395 shares in the company, valued at $131,754,341.40. This trade represents a 0.77% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 5.77% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Karman
A number of institutional investors and hedge funds have recently modified their holdings of the business. GK Wealth Management LLC acquired a new stake in shares of Karman during the 3rd quarter worth approximately $65,000. Legacy Wealth Asset Management LLC lifted its position in shares of Karman by 83.8% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 7,374 shares of the company’s stock valued at $239,000 after acquiring an additional 3,361 shares during the period. Congress Asset Management Co. boosted its stake in Karman by 23.8% during the third quarter. Congress Asset Management Co. now owns 1,068,811 shares of the company’s stock worth $34,651,000 after acquiring an additional 205,503 shares in the last quarter. Moody National Bank Trust Division acquired a new stake in Karman in the third quarter worth $537,000. Finally, HBK Investments L P bought a new stake in Karman in the second quarter valued at $998,000.
Karman Company Profile
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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