Karman (NYSE:KRMN) Reaches New 12-Month High – Here’s What Happened

Karman Holdings Inc. (NYSE:KRMN)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $88.92 and last traded at $88.6440, with a volume of 896328 shares traded. The stock had previously closed at $83.99.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Weiss Ratings restated a “hold (c-)” rating on shares of Karman in a report on Monday, December 29th. Citigroup assumed coverage on shares of Karman in a research report on Thursday, December 11th. They set a “buy” rating and a $84.00 price target on the stock. Truist Financial initiated coverage on shares of Karman in a research report on Friday, October 10th. They set a “buy” rating and a $89.00 price objective for the company. Royal Bank Of Canada dropped their price target on shares of Karman from $93.00 to $85.00 and set an “outperform” rating for the company in a research note on Friday, November 7th. Finally, Evercore ISI lifted their price target on shares of Karman from $58.00 to $75.00 and gave the company an “outperform” rating in a research report on Monday, September 29th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $80.43.

Karman Stock Performance

The company has a current ratio of 2.86, a quick ratio of 2.69 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $11.96 billion and a price-to-earnings ratio of 361.63. The firm’s fifty day moving average price is $71.09 and its 200 day moving average price is $63.16.

Karman (NYSE:KRMN) last released its quarterly earnings results on Friday, November 7th. The company reported $0.10 EPS for the quarter, hitting analysts’ consensus estimates of $0.10. Karman had a return on equity of 11.11% and a net margin of 2.65%.The company had revenue of $121.79 million for the quarter. During the same quarter last year, the company earned $0.04 earnings per share. The firm’s revenue for the quarter was up 41.7% on a year-over-year basis.

Insider Transactions at Karman

In other Karman news, insider Stephanie Sawhill sold 62,000 shares of the stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $63.93, for a total transaction of $3,963,660.00. Following the sale, the insider directly owned 504,939 shares in the company, valued at $32,280,750.27. This represents a 10.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Michael Willis sold 115,000 shares of the business’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $58.63, for a total transaction of $6,742,450.00. Following the completion of the transaction, the chief financial officer owned 859,709 shares of the company’s stock, valued at approximately $50,404,738.67. This trade represents a 11.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 251,000 shares of company stock valued at $15,419,170.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC raised its position in Karman by 83.7% in the 4th quarter. GAMMA Investing LLC now owns 373 shares of the company’s stock valued at $27,000 after purchasing an additional 170 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new stake in shares of Karman during the third quarter worth approximately $29,000. Farther Finance Advisors LLC raised its holdings in Karman by 56.4% in the third quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock valued at $33,000 after acquiring an additional 164 shares in the last quarter. Wexford Capital LP purchased a new position in Karman in the third quarter worth approximately $41,000. Finally, Global Retirement Partners LLC grew its holdings in Karman by 5,718.2% during the 3rd quarter. Global Retirement Partners LLC now owns 640 shares of the company’s stock worth $46,000 after acquiring an additional 629 shares in the last quarter.

Karman Company Profile

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. We estimate that no single program accounted for more than 10% of sales for the nine months ended September 30, 2024 or the twelve months ended December 31, 2023, with revenue from over 100 active programs supporting current production and next-generation space, missile, hypersonic, and defense applications.