Karman (NYSE:KRMN) Sets New 52-Week Low – Here’s What Happened

Karman Holdings Inc. (NYSE:KRMNGet Free Report) shares hit a new 52-week low during trading on Tuesday . The company traded as low as $33.80 and last traded at $33.5690, with a volume of 374142 shares. The stock had previously closed at $35.21.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Royal Bank Of Canada dropped their target price on Karman from $100.00 to $85.00 and set an “outperform” rating on the stock in a research report on Friday, July 24th. Weiss Ratings lowered shares of Karman from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, September 10th. Citigroup increased their price target on Karman from $76.00 to $78.00 and gave the company a “buy” rating in a report on Monday, August 10th. Piper Sandler restated an “overweight” rating and set a $91.00 price objective (down from $114.00) on shares of Karman in a research report on Friday, August 7th. Finally, Needham & Company LLC reduced their target price on Karman from $125.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $89.45.

Get Our Latest Research Report on Karman

Karman Stock Performance

The stock has a market capitalization of $4.51 billion, a PE ratio of 117.34 and a beta of 0.47. The company has a quick ratio of 3.40, a current ratio of 3.56 and a debt-to-equity ratio of 2.01. The stock has a fifty day moving average of $47.64 and a 200-day moving average of $62.53.

Karman (NYSE:KRMNGet Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.13 by $0.01. The company had revenue of $182.06 million during the quarter. Karman had a net margin of 6.31% and a return on equity of 15.54%. The company’s revenue was up 58.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.10 EPS. Equities analysts anticipate that Karman Holdings Inc. will post 0.59 earnings per share for the current fiscal year.

Insider Activity at Karman

In other news, Director David Stinnett bought 27,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 16th. The stock was purchased at an average cost of $37.32 per share, with a total value of $1,007,640.00. Following the transaction, the director directly owned 3,530,395 shares in the company, valued at $131,754,341.40. This trade represents a 0.77% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 5.77% of the company’s stock.

Hedge Funds Weigh In On Karman

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

Karman Company Profile

(Get Free Report)

Karman is an aerospace and defense company that develops and manufactures mission-critical components, structures and systems for space and defense applications. Its offerings support launch vehicles, satellites, hypersonic systems and other advanced aerospace platforms.

The company provides capabilities across engineered metallic and composite structures, precision components, propulsion-related products and other specialized assemblies. Karman serves government and commercial aerospace customers involved in space launch, national security and defense programs.

Operating through a portfolio of aerospace and defense businesses, Karman combines design, engineering and manufacturing capabilities for complex, high-performance applications.

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