Norges Bank Buys Shares of 315,934 Karman Holdings Inc. $KRMN

Norges Bank bought a new stake in Karman Holdings Inc. (NYSE:KRMN) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 315,934 shares of the company’s stock, valued at approximately $23,117,000. Norges Bank owned approximately 0.24% of Karman at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Karman in the fourth quarter valued at approximately $106,000. Intech Investment Management LLC acquired a new stake in shares of Karman in the fourth quarter valued at approximately $530,000. Huntington National Bank acquired a new stake in shares of Karman in the fourth quarter valued at approximately $32,000. Geode Capital Management LLC grew its position in shares of Karman by 17.8% in the fourth quarter. Geode Capital Management LLC now owns 1,156,163 shares of the company’s stock valued at $84,620,000 after purchasing an additional 174,561 shares during the last quarter. Finally, King Luther Capital Management Corp grew its position in shares of Karman by 1.0% in the fourth quarter. King Luther Capital Management Corp now owns 92,355 shares of the company’s stock valued at $6,758,000 after purchasing an additional 909 shares during the last quarter.

Karman Stock Down 2.8%

Shares of KRMN opened at $48.23 on Wednesday. The firm has a market cap of $6.39 billion, a PE ratio of 209.70 and a beta of 0.32. The company’s fifty day moving average is $70.14 and its two-hundred day moving average is $81.45. Karman Holdings Inc. has a fifty-two week low of $43.49 and a fifty-two week high of $118.38. The company has a quick ratio of 3.38, a current ratio of 3.53 and a debt-to-equity ratio of 2.08.

Karman (NYSE:KRMN) last issued its earnings results on Tuesday, May 12th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.03. Karman had a net margin of 5.73% and a return on equity of 14.94%. The business had revenue of $151.21 million for the quarter, compared to the consensus estimate of $150.19 million. During the same quarter last year, the firm posted $0.05 EPS. The business’s revenue for the quarter was up 51.0% compared to the same quarter last year. Analysts forecast that Karman Holdings Inc. will post 0.59 earnings per share for the current year.

Wall Street Analyst Weigh In

KRMN has been the topic of several research reports. Piper Sandler lowered their price target on shares of Karman from $127.00 to $114.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 19th. Needham & Company LLC restated a “buy” rating and set a $125.00 target price on shares of Karman in a research report on Thursday, April 9th. Weiss Ratings upgraded shares of Karman from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Truist Financial upgraded shares of Karman to a “strong-buy” rating in a research report on Friday, May 1st. Finally, Robert W. Baird raised their target price on shares of Karman from $115.00 to $135.00 and gave the stock an “outperform” rating in a research report on Friday, March 20th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Karman has an average rating of “Moderate Buy” and a consensus price target of $105.60.

About Karman

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.