Karman Holdings Inc. $KRMN Shares Purchased by Royal Bank of Canada

Royal Bank of Canada grew its holdings in shares of Karman Holdings Inc. (NYSE:KRMN) by 17.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 101,236 shares of the company’s stock after buying an additional 15,357 shares during the quarter. Royal Bank of Canada’s holdings in Karman were worth $8,104,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Ranger Investment Management L.P. raised its stake in shares of Karman by 12.8% in the 1st quarter. Ranger Investment Management L.P. now owns 297,540 shares of the company’s stock valued at $23,818,000 after acquiring an additional 33,786 shares during the period. Rokos Capital Management LLP purchased a new stake in Karman during the 1st quarter worth $35,261,000. Empowered Funds LLC acquired a new stake in Karman in the 1st quarter valued at $11,958,000. The Manufacturers Life Insurance Company raised its position in Karman by 2.6% in the first quarter. The Manufacturers Life Insurance Company now owns 32,496 shares of the company’s stock valued at $2,601,000 after purchasing an additional 811 shares during the period. Finally, Quantinno Capital Management LP raised its position in Karman by 34.9% in the first quarter. Quantinno Capital Management LP now owns 19,752 shares of the company’s stock valued at $1,581,000 after purchasing an additional 5,114 shares during the period.

Karman Stock Up 6.8%

KRMN stock opened at $62.21 on Tuesday. The firm has a market cap of $8.24 billion, a price-to-earnings ratio of 214.52 and a beta of 0.56. Karman Holdings Inc. has a 1-year low of $43.68 and a 1-year high of $118.38. The firm has a fifty day moving average price of $50.03 and a two-hundred day moving average price of $72.58. The company has a debt-to-equity ratio of 2.01, a current ratio of 3.56 and a quick ratio of 3.40.

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, topping analysts’ consensus estimates 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 for the quarter. During the same quarter in the previous year, the business posted $0.10 earnings per share. The company’s quarterly revenue was up 58.2% compared to the same quarter last year. Research analysts predict that Karman Holdings Inc. will post 0.57 EPS for the current year.

Analysts Set New Price Targets

KRMN has been the subject of several analyst reports. BWS Financial reaffirmed a “sell” rating and issued a $37.00 target price on shares of Karman in a research report on Monday. Royal Bank Of Canada reduced their price target on Karman from $100.00 to $85.00 and set an “outperform” rating on the stock in a research report on Friday, July 24th. Piper Sandler restated an “overweight” rating and issued a $91.00 price target (down from $114.00) on shares of Karman in a report on Friday. Weiss Ratings downgraded shares of Karman from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, June 29th. Finally, Evercore set a $100.00 price objective on shares of Karman in a research note on Wednesday, May 13th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $95.40.

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.