Karman (NYSE:KRMN) Upgraded by Piper Sandler to Overweight Rating

Karman (NYSE:KRMN) was upgraded by equities researchers at Piper Sandler from a “neutral” rating to an “overweight” rating in a note issued to investors on Friday,Benzinga reports. The firm currently has a $127.00 price target on the stock, up from their prior price target of $110.00. Piper Sandler’s target price indicates a potential upside of 30.64% from the company’s previous close.

A number of other equities research analysts also recently commented on the stock. Citigroup reissued a “buy” rating on shares of Karman in a research report on Thursday, February 19th. Evercore boosted their target price on shares of Karman from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, January 22nd. Raymond James Financial reissued a “strong-buy” rating and issued a $130.00 target price on shares of Karman in a report on Thursday, January 22nd. Truist Financial set a $118.00 price target on Karman in a report on Friday, January 9th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Karman in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $106.56.

Karman Stock Down 1.7%

KRMN stock opened at $97.21 on Friday. The company’s 50 day moving average price is $93.69 and its 200 day moving average price is $77.04. The firm has a market capitalization of $12.86 billion and a price-to-earnings ratio of 388.84. Karman has a fifty-two week low of $25.02 and a fifty-two week high of $118.38. The company has a debt-to-equity ratio of 1.27, a quick ratio of 2.69 and a current ratio of 2.86.

Hedge Funds Weigh In On Karman

Several large investors have recently bought and sold shares of the stock. Invesco Ltd. grew its holdings in shares of Karman by 27.3% during the fourth quarter. Invesco Ltd. now owns 4,088,649 shares of the company’s stock worth $299,166,000 after purchasing an additional 877,462 shares during the last quarter. Vident Advisory LLC acquired a new stake in shares of Karman in the 4th quarter valued at about $14,579,000. VARCOV Co. purchased a new position in Karman during the 4th quarter worth approximately $485,000. Polymer Capital Management US LLC acquired a new position in Karman during the fourth quarter worth approximately $569,000. Finally, Engineers Gate Manager LP purchased a new stake in Karman in the fourth quarter valued at approximately $241,000.

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.