Citigroup Issues Positive Forecast for Karman (NYSE:KRMN) Stock Price

Karman (NYSE:KRMN) had its price objective boosted by Citigroup from $46.50 to $58.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price target suggests a potential upside of 22.73% from the stock’s current price.

KRMN has been the topic of a number of other research reports. Baird R W upgraded Karman to a “strong-buy” rating in a research report on Monday, March 10th. Royal Bank of Canada raised their price target on Karman from $38.00 to $44.00 and gave the company an “outperform” rating in a research report on Wednesday, May 14th. William Blair initiated coverage on Karman in a research report on Monday, March 10th. They set an “outperform” rating on the stock. Robert W. Baird raised their price target on Karman from $40.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, May 14th. Finally, Evercore ISI initiated coverage on Karman in a research report on Monday, March 10th. They set an “outperform” rating and a $38.00 price target on the stock. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Karman has a consensus rating of “Buy” and a consensus target price of $47.50.

Karman Stock Performance

NYSE:KRMN traded up $0.81 during trading hours on Monday, hitting $47.26. 372,841 shares of the company’s stock traded hands, compared to its average volume of 886,530. Karman has a 52 week low of $25.02 and a 52 week high of $47.55. The company has a fifty day moving average of $37.65.

Karman (NYSE:KRMN) last posted its quarterly earnings data on Tuesday, May 13th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.03. The business had revenue of $100.12 million for the quarter, compared to the consensus estimate of $95.40 million. Karman’s revenue for the quarter was up 20.6% compared to the same quarter last year.

Institutional Trading of Karman

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. SBI Securities Co. Ltd. bought a new position in shares of Karman in the first quarter worth approximately $107,000. US Bancorp DE purchased a new stake in Karman in the 1st quarter worth approximately $124,000. Hollencrest Capital Management bought a new stake in shares of Karman in the 1st quarter worth approximately $155,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Karman during the first quarter valued at approximately $170,000. Finally, Phoenix Financial Ltd. purchased a new stake in Karman in the first quarter worth $435,000.

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.