Karman (NYSE:KRMN) Shares Up 8.3% – Time to Buy?

Karman Holdings Inc. (NYSE:KRMN) shares traded up 8.3% during mid-day trading on Thursday. The stock traded as high as $32.28 and last traded at $32.6480. Approximately 1,089,451 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 2,798,533 shares. The stock had previously closed at $30.14.

Analyst Upgrades and Downgrades

KRMN has been the topic of several research analyst reports. Barclays began coverage on Karman in a report on Friday, October 9th. They set an “overweight” rating and a $79.00 target price on the stock. Citigroup lifted 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. Royal Bank Of Canada cut their price target on Karman from $85.00 to $70.00 and set an “outperform” rating for the company in a report on Monday, September 28th. BWS Financial reiterated a “sell” rating and set a $37.00 price target on shares of Karman in a research report on Monday, August 10th. Finally, Weiss Ratings raised shares of Karman from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $87.33.

Karman Trading Up 10.2%

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 business’s fifty day moving average is $42.26 and its two-hundred day moving average is $54.38. The firm has a market cap of $4.40 billion, a price-to-earnings ratio of 114.59 and a beta of 0.64.

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

Insider Activity

In other news, Director David Stinnett purchased 27,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 16th. The shares were acquired at an average price of $37.32 per share, for a total transaction of $1,007,640.00. Following the completion of the acquisition, the director directly owned 3,530,395 shares in the company, valued at approximately $131,754,341.40. The trade was a 0.77% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 5.77% of the stock is owned by company insiders.

Institutional Trading of Karman

Several institutional investors and hedge funds have recently added to or reduced their stakes in KRMN. State of Alaska Department of Revenue bought a new stake in shares of Karman during the 3rd quarter valued at $865,000. Bouvel Investment Partners LLC acquired a new position in shares of Karman in the 3rd quarter valued at $1,841,000. GK Wealth Management LLC acquired a new position in shares of Karman in the 3rd quarter valued at $65,000. Legacy Wealth Asset Management LLC boosted its position in shares of Karman by 83.8% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 7,374 shares of the company’s stock worth $239,000 after purchasing an additional 3,361 shares during the last quarter. Finally, Congress Asset Management Co. boosted its position 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 during the last quarter.

About Karman

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.