Karman (NYSE:KRMN) Hits New 52-Week High – Here’s Why

Shares of Karman Holdings Inc. (NYSE:KRMN) hit a new 52-week high during trading on Thursday . The stock traded as high as $117.72 and last traded at $111.5760, with a volume of 17313 shares traded. The stock had previously closed at $104.79.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. BWS Financial started coverage on shares of Karman in a report on Monday, January 12th. They set a “sell” rating and a $37.00 price objective for the company. Piper Sandler initiated coverage on shares of Karman in a research note on Wednesday. They issued a “neutral” rating and a $98.00 target price on the stock. KeyCorp began coverage on Karman in a research note on Thursday, December 18th. They issued an “overweight” rating and a $80.00 price objective on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Karman in a research report on Monday, December 29th. Finally, Truist Financial set a $118.00 price target on shares of Karman in a research report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $98.44.

Karman Stock Performance

The company has a debt-to-equity ratio of 1.27, a quick ratio of 2.69 and a current ratio of 2.86. The firm has a market capitalization of $14.70 billion and a P/E ratio of 449.24. The company has a 50-day simple moving average of $77.14 and a two-hundred day simple moving average of $67.82.

Karman (NYSE:KRMN) last announced its quarterly earnings data on Friday, November 7th. The company reported $0.10 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.10. Karman had a return on equity of 11.11% and a net margin of 2.65%.The business had revenue of $121.79 million during the quarter. During the same quarter in the previous year, the firm posted $0.04 EPS. The firm’s quarterly revenue was up 41.7% compared to the same quarter last year.

Insider Activity

In other Karman news, CFO Michael Willis sold 115,000 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $58.63, for a total transaction of $6,742,450.00. Following the sale, the chief financial officer owned 859,709 shares in the company, valued at approximately $50,404,738.67. This trade represents a 11.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jonathan Beaudoin sold 74,000 shares of the stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $63.69, for a total value of $4,713,060.00. Following the sale, the chief operating officer owned 666,861 shares of the company’s stock, valued at $42,472,377.09. This represents a 9.99% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 251,000 shares of company stock valued at $15,419,170 in the last ninety days.

Institutional Investors Weigh In On Karman

A number of institutional investors and hedge funds have recently modified their holdings of KRMN. Portside Wealth Group LLC acquired a new position in shares of Karman in the fourth quarter worth about $362,000. SteelPeak Wealth LLC purchased a new position in Karman during the fourth quarter worth about $318,000. Zevenbergen Capital Investments LLC acquired a new position in Karman in the fourth quarter valued at approximately $39,483,000. J. Safra Sarasin Holding AG grew its holdings in shares of Karman by 34.0% during the 4th quarter. J. Safra Sarasin Holding AG now owns 4,741 shares of the company’s stock worth $347,000 after purchasing an additional 1,202 shares during the period. Finally, Norden Group LLC acquired a new stake in shares of Karman during the fourth quarter valued at about $323,000.

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.