Karman (NYSE:KRMN) Stock Price Target Cut by Royal Bank Of Canada

Karman (NYSE:KRMN) had its price objective dropped by stock analysts at Royal Bank Of Canada from $70.00 to $60.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada‘s price target points to a potential upside of 63.47% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on the company. UBS Group set a $40.00 price objective on Karman in a research note on Thursday, October 22nd. Needham & Company LLC decreased their target price on Karman from $125.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. Oppenheimer started coverage on Karman in a report on Thursday, October 22nd. They issued an “outperform” rating and a $40.00 target price on the stock. Barclays assumed coverage on Karman in a report on Friday, October 9th. They issued an “overweight” rating and a $79.00 target price on the stock. Finally, Guggenheim began coverage on Karman in a research note on Monday, September 14th. They set a “buy” rating and a $63.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $77.57.

Karman Stock Performance

KRMN stock traded down $1.03 during trading on Wednesday, reaching $36.70. 425,090 shares of the company were exchanged, compared to its average volume of 2,829,630. The stock’s 50 day moving average price is $38.17 and its 200 day moving average price is $65.22. Karman has a 52-week low of $29.34 and a 52-week high of $118.38. The company has a market cap of $4.86 billion, a P/E ratio of 127.23 and a beta of 0.64.

Karman (NYSE:KRMN) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The company had revenue of $182.06 million for the quarter. The company’s revenue for the quarter was up 58.2% on a year-over-year basis. During the same period last year, the firm posted $0.10 EPS. As a group, equities research analysts forecast that Karman will post 0.59 EPS for the current year.

Insider Buying and Selling

In other news, Director David Stinnett acquired 27,000 shares of the business’s stock in a transaction dated Wednesday, September 16th. The stock was acquired at an average price of $37.32 per share, with a total value of $1,007,640.00. Following the completion of the transaction, the director directly owned 3,530,395 shares in the company, valued at approximately $131,754,341.40. This represents a 0.77% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 5.77% of the company’s stock.

Institutional Trading of Karman

A number of hedge funds have recently bought and sold shares of KRMN. Janney Montgomery Scott LLC raised its holdings in Karman by 8.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 3,949 shares of the company’s stock valued at $316,000 after acquiring an additional 297 shares during the last quarter. SBI Securities Co. Ltd. boosted its holdings in shares of Karman by 15.8% during the third quarter. SBI Securities Co. Ltd. now owns 2,526 shares of the company’s stock worth $82,000 after purchasing an additional 345 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of Karman by 3,471.4% during the second quarter. Parkside Financial Bank & Trust now owns 500 shares of the company’s stock worth $25,000 after purchasing an additional 486 shares during the last quarter. CX Institutional acquired a new stake in shares of Karman during the second quarter worth $28,000. Finally, Hilltop National Bank grew its position in shares of Karman by 87.8% in the second quarter. Hilltop National Bank now owns 1,258 shares of the company’s stock valued at $63,000 after purchasing an additional 588 shares during the period.

About Karman

Karman Holdings Corp., doing business as Karman Space & Defense, is an aerospace and defense company that develops and manufactures mission-critical components, assemblies and structures. Its products are used in space-launch vehicles, missiles, hypersonic systems and other defense applications where performance, reliability and precision are essential.

The company’s capabilities include the production of composite and metallic structures, propulsion-related components, precision-machined parts and other highly engineered hardware.