Karman (NYSE:KRMN) Coverage Initiated at Needham & Company LLC

Stock analysts at Needham & Company LLC began coverage on shares of Karman (NYSE:KRMN) in a report issued on Friday, Marketbeat reports. The firm set a “buy” rating and a $125.00 price target on the stock. Needham & Company LLC’s target price would indicate a potential upside of 26.50% from the company’s previous close.

KRMN has been the topic of a number of other research reports. Raymond James Financial reissued a “strong-buy” rating and issued a $130.00 target price on shares of Karman in a research note on Thursday, January 22nd. Piper Sandler upgraded Karman from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $110.00 to $127.00 in a research report on Friday, March 6th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Karman in a research note on Monday, December 29th. Evercore lifted their price target 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. Finally, Truist Financial set a $118.00 price objective on shares of Karman in a research note on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $108.40.

Karman Price Performance

KRMN traded down $0.17 on Friday, reaching $98.81. The company had a trading volume of 310,621 shares, compared to its average volume of 2,170,770. The company has a debt-to-equity ratio of 1.27, a quick ratio of 2.69 and a current ratio of 2.86. Karman has a 52-week low of $25.02 and a 52-week high of $118.38. The company has a market cap of $13.07 billion and a price-to-earnings ratio of 395.33. The business has a 50 day simple moving average of $96.44 and a 200 day simple moving average of $78.82.

Institutional Trading of Karman

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Robert Wood Johnson Foundation purchased a new stake in Karman during the third quarter worth about $70,488,000. Federated Hermes Inc. purchased a new stake in Karman in the 3rd quarter valued at approximately $2,055,000. TimesSquare Capital Management LLC raised its stake in Karman by 361.7% in the 3rd quarter. TimesSquare Capital Management LLC now owns 1,546,905 shares of the company’s stock valued at $111,687,000 after purchasing an additional 1,211,845 shares during the last quarter. Huntleigh Advisors Inc. purchased a new position in shares of Karman during the third quarter valued at approximately $2,466,000. Finally, GAM Holding AG acquired a new position in Karman in the third quarter valued at $1,250,000.

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.