Karman (NYSE:KRMN) Upgraded by Guggenheim to Strong-Buy Rating

Guggenheim upgraded shares of Karman (NYSE:KRMN) to a strong-buy rating in a report issued on Monday morning,Zacks reports.

Several other equities research analysts have also issued reports on the company. KeyCorp dropped their price target on Karman from $122.00 to $100.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 20th. Royal Bank Of Canada lowered their target price on shares of Karman from $100.00 to $85.00 and set an “outperform” rating for the company in a research note on Friday, July 24th. Citigroup increased their target price on shares of Karman from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Needham & Company LLC reduced their price target on shares of Karman from $125.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. Finally, BWS Financial reaffirmed a “sell” rating and issued a $37.00 price target on shares of Karman in a report on Monday, August 10th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Karman currently has an average rating of “Moderate Buy” and an average target price of $89.45.

Karman Stock Down 1.2%

Shares of Karman stock opened at $37.03 on Monday. The business has a 50-day moving average price of $48.41 and a 200 day moving average price of $63.70. Karman has a fifty-two week low of $33.99 and a fifty-two week high of $118.38. The firm has a market cap of $4.91 billion, a P/E ratio of 127.69 and a beta of 0.47. 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) last released its earnings results on Thursday, August 6th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The company 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 company’s quarterly revenue was up 58.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.10 EPS. On average, sell-side analysts forecast that Karman will post 0.59 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. HBK Investments L P bought a new position in Karman during the 2nd quarter worth $998,000. Tidal Investments LLC lifted its stake in Karman by 78.1% in the second quarter. Tidal Investments LLC now owns 29,199 shares of the company’s stock valued at $1,458,000 after buying an additional 12,807 shares during the last quarter. Engineers Gate Manager LP acquired a new position in shares of Karman during the second quarter valued at $470,000. NewEdge Advisors LLC boosted its holdings in shares of Karman by 163.3% during the second quarter. NewEdge Advisors LLC now owns 3,112 shares of the company’s stock valued at $155,000 after acquiring an additional 1,930 shares during the period. Finally, Arizona State Retirement System grew its position in shares of Karman by 13.2% during the second quarter. Arizona State Retirement System now owns 16,456 shares of the company’s stock worth $821,000 after acquiring an additional 1,915 shares during the last quarter.

About Karman

Karman is an aerospace and defense company that develops and manufactures mission-critical components, structures and systems for space and defense applications. Its offerings support launch vehicles, satellites, hypersonic systems and other advanced aerospace platforms.

The company provides capabilities across engineered metallic and composite structures, precision components, propulsion-related products and other specialized assemblies. Karman serves government and commercial aerospace customers involved in space launch, national security and defense programs.

Operating through a portfolio of aerospace and defense businesses, Karman combines design, engineering and manufacturing capabilities for complex, high-performance applications.