Piper Sandler Reaffirms “Overweight” Rating for Karman (NYSE:KRMN)

Karman (NYSE:KRMN)‘s stock had its “overweight” rating restated by research analysts at Piper Sandler in a note issued to investors on Friday,Benzinga reports. They currently have a $91.00 target price on the stock, down from their prior target price of $114.00. Piper Sandler’s price target would indicate a potential upside of 54.89% from the stock’s current price.

A number of other analysts also recently issued reports on KRMN. Royal Bank Of Canada dropped their price objective on shares of Karman from $100.00 to $85.00 and set an “outperform” rating for the company in a report on Friday, July 24th. Citigroup reduced their target price on shares of Karman from $97.00 to $76.00 and set a “buy” rating on the stock in a report on Wednesday, July 1st. Weiss Ratings downgraded shares of Karman from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, June 29th. Evercore set a $100.00 price objective on Karman in a research note on Wednesday, May 13th. Finally, KeyCorp dropped their target price on Karman from $122.00 to $100.00 and set an “overweight” rating for the company in a report on Wednesday, May 20th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Karman currently has a consensus rating of “Moderate Buy” and an average target price of $95.20.

Karman Stock Performance

Shares of Karman stock opened at $58.75 on Friday. The company has a 50 day moving average of $49.86 and a 200-day moving average of $72.89. Karman has a 1-year low of $43.68 and a 1-year high of $118.38. The company has a market cap of $7.79 billion, a PE ratio of 202.59 and a beta of 0.56. The company has a current ratio of 3.56, a quick ratio of 3.40 and a debt-to-equity ratio of 2.01.

Karman (NYSE:KRMN) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.01. The firm had revenue of $182.06 million for the quarter. Karman had a net margin of 6.31% and a return on equity of 15.54%. The company’s revenue for the quarter was up 58.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.10 EPS. As a group, equities research analysts forecast that Karman will post 0.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Karman

Several institutional investors and hedge funds have recently modified their holdings of KRMN. EverSource Wealth Advisors LLC boosted its position in shares of Karman by 889.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 386 shares of the company’s stock worth $28,000 after acquiring an additional 347 shares during the last quarter. CX Institutional bought a new stake in Karman in the 2nd quarter valued at $28,000. Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new stake in Karman in the 3rd quarter worth $29,000. Huntington National Bank purchased a new stake in Karman in the 4th quarter worth $32,000. Finally, Kestra Advisory Services LLC bought a new position in shares of Karman during the 4th quarter valued at about $32,000.

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.