Karman (NYSE:KRMN) Reaches New 1-Year Low – Time to Sell?

Karman Holdings Inc. (NYSE:KRMN – Get Free Report)’s share price reached a new 52-week low during trading on Tuesday. The stock traded as low as $30.51 and last traded at $30.7720, with a volume of 283,094 shares changing hands. The stock had previously closed at $31.88.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Piper Sandler reissued an “overweight” rating and set a $91.00 price objective (down from $114.00) on shares of Karman in a report on Friday, August 7th. Guggenheim began coverage on Karman in a research note on Monday, September 14th. They issued a “buy” rating and a $63.00 target price on the stock. Citigroup increased their target price on shares of Karman from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Barclays assumed coverage on shares of Karman in a research note on Friday. They issued an “overweight” rating and a $79.00 target price for the company. Finally, BWS Financial reissued a “sell” rating and issued a $37.00 price target on shares of Karman in a research report on Monday, August 10th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Karman has a consensus rating of “Moderate Buy” and an average price target of $87.33.

View Our Latest Research Report on KRMN

Karman Stock Performance

The company has a 50-day moving average price of $43.24 and a two-hundred day moving average price of $55.26. The stock has a market capitalization of $4.02 billion, a P/E ratio of 104.49 and a beta of 0.64. The company has a quick ratio of 3.40, a current ratio of 3.56 and a debt-to-equity ratio of 2.01.

Karman (NYSE:KRMN – Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.14 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $182.06 million for the quarter. During the same period in the previous year, the company posted $0.10 earnings per share. The company’s quarterly revenue was up 58.2% compared to the same quarter last year. Equities analysts expect that Karman Holdings Inc. will post 0.59 earnings per share for the current year.

Insider Buying and Selling

In other news, Director David Stinnett purchased 27,000 shares of the business’s stock in a transaction 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 acquisition, the director directly owned 3,530,395 shares in the company, valued at approximately $131,754,341.40. This trade represents a 0.77% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.77% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Karman

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Trust Advisors LP raised its position in Karman by 3.3% during the first quarter. First Trust Advisors LP now owns 2,891,687 shares of the company’s stock valued at $231,480,000 after purchasing an additional 93,565 shares in the last quarter. Falcon Wealth Planning purchased a new position in shares of Karman in the 1st quarter worth about $205,684,000. Congress Asset Management Co. boosted its holdings in shares of Karman by 23.8% in the 3rd quarter. Congress Asset Management Co. now owns 1,068,811 shares of the company’s stock worth $34,651,000 after purchasing an additional 205,503 shares in the last quarter. Amundi increased its position in shares of Karman by 44.6% during the 1st quarter. Amundi now owns 512,231 shares of the company’s stock valued at $41,004,000 after purchasing an additional 158,068 shares during the last quarter. Finally, Bank of America Corp DE increased its position in shares of Karman by 123.8% during the 1st quarter. Bank of America Corp DE now owns 459,531 shares of the company’s stock valued at $36,785,000 after purchasing an additional 254,161 shares during the last quarter.

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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