Karman (NYSE:KRMN) Price Target Cut to $85.00 by Analysts at Royal Bank Of Canada

Karman (NYSE:KRMN) had its price target lowered by Royal Bank Of Canada from $93.00 to $85.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective indicates a potential upside of 19.56% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on the company. Weiss Ratings restated a “sell (d+)” rating on shares of Karman in a research note on Wednesday, October 8th. Raymond James Financial began coverage on Karman in a research note on Friday, September 5th. They set a “strong-buy” rating and a $100.00 target price on the stock. Evercore ISI increased their price target on Karman from $58.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday, September 29th. Finally, Truist Financial started coverage on Karman in a research note on Friday, October 10th. They set a “buy” rating and a $89.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $76.17.

Karman Stock Down 5.2%

NYSE:KRMN traded down $3.89 during mid-day trading on Friday, reaching $71.09. The company’s stock had a trading volume of 4,815,889 shares, compared to its average volume of 1,275,043. The company has a quick ratio of 2.58, a current ratio of 2.75 and a debt-to-equity ratio of 1.30. Karman has a 1 year low of $25.02 and a 1 year high of $88.82. The stock has a fifty day moving average of $71.67 and a 200-day moving average of $54.95. The firm has a market capitalization of $9.41 billion and a PE ratio of 473.96.

Karman (NYSE:KRMN) last posted its earnings results on Friday, November 7th. The company reported $0.10 EPS for the quarter, meeting analysts’ consensus estimates of $0.10. The business had revenue of $121.79 million for the quarter. During the same quarter last year, the business earned $0.04 earnings per share. The business’s revenue for the quarter was up 41.7% on a year-over-year basis.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Farther Finance Advisors LLC boosted its holdings in Karman by 56.4% during the third quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock worth $33,000 after buying an additional 164 shares in the last quarter. Global Retirement Partners LLC raised its position in shares of Karman by 5,718.2% in the third quarter. Global Retirement Partners LLC now owns 640 shares of the company’s stock worth $46,000 after acquiring an additional 629 shares during the period. Global Trust Asset Management LLC purchased a new stake in shares of Karman during the 2nd quarter worth about $50,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Karman during the 3rd quarter valued at about $101,000. Finally, ORG Wealth Partners LLC acquired a new stake in shares of Karman during the 3rd quarter valued at about $116,000.

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.