Karman (NYSE:KRMN) Stock Gets Price Target Cut from KeyCorp

Karman (NYSE:KRMN) had its price target dropped by analysts at KeyCorp from $100.00 to $65.00 in a research report issued on Monday, Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp‘s price objective suggests a potential upside of 63.28% from the stock’s previous close.

A number of other brokerages also recently issued reports on KRMN. Needham & Company LLC reduced their price objective on shares of Karman from $125.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, August 7th. Guggenheim assumed coverage on Karman in a research note on Monday, September 14th. They issued a “buy” rating and a $63.00 target price on the stock. Royal Bank Of Canada cut their target price on Karman from $70.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 28th. Weiss Ratings raised Karman from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Finally, Piper Sandler decreased their price target on Karman from $91.00 to $59.00 and set an “overweight” rating for the company in a research report on Friday, October 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Karman presently has an average rating of “Moderate Buy” and a consensus price target of $75.07.

Karman Price Performance

KRMN opened at $39.81 on Monday. Karman has a 1 year low of $29.34 and a 1 year high of $118.38. The company has a debt-to-equity ratio of 2.01, a current ratio of 3.56 and a quick ratio of 3.40. The company has a market capitalization of $5.28 billion, a price-to-earnings ratio of 137.28 and a beta of 0.44. The firm’s fifty day moving average price is $37.11 and its two-hundred day moving average price is $64.25.

Karman (NYSE:KRMN) last announced its earnings results on Thursday, August 6th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.13 by $0.01. Karman had a net margin of 6.31% and a return on equity of 15.54%. The company had revenue of $182.06 million during the quarter. During the same quarter in the prior year, the company earned $0.10 EPS. The business’s revenue for the quarter was up 58.2% on a year-over-year basis. As a group, analysts anticipate that Karman will post 0.59 earnings per share for the current fiscal year.

Insider Transactions at Karman

In other Karman news, Director David Stinnett acquired 27,000 shares of the business’s stock in a transaction dated Wednesday, September 16th. The stock was bought at an average price of $37.32 per share, with a total value of $1,007,640.00. Following the purchase, the director owned 3,530,395 shares of the company’s stock, valued at approximately $131,754,341.40. This trade represents a 0.77% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 5.77% of the stock is currently owned by corporate insiders.

Institutional Trading of Karman

Institutional investors have recently added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund bought a new stake in shares of Karman in the 3rd quarter valued at about $908,000. VIRGINIA RETIREMENT SYSTEMS ET Al increased its position in shares of Karman by 170.8% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 13,000 shares of the company’s stock valued at $421,000 after acquiring an additional 8,200 shares during the period. D.A. Davidson & CO. raised its stake in shares of Karman by 19.5% during the third quarter. D.A. Davidson & CO. now owns 13,815 shares of the company’s stock valued at $448,000 after acquiring an additional 2,250 shares during the last quarter. Pinnacle Wealth Planning Services Inc. purchased a new stake in shares of Karman during the third quarter worth about $32,000. Finally, Park Avenue Securities LLC grew its stake in shares of Karman by 17.2% in the third quarter. Park Avenue Securities LLC now owns 20,753 shares of the company’s stock worth $673,000 after purchasing an additional 3,041 shares during the last quarter.

Karman Company Profile

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.