Karman (NYSE:KRMN) Shares Down 7.9% – Time to Sell?

Karman Holdings Inc. (NYSE:KRMN) shares were down 7.9% during trading on Thursday . The company traded as low as $54.02 and last traded at $53.6070. Approximately 468,644 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 2,651,053 shares. The stock had previously closed at $58.20.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on KRMN. Evercore set a $100.00 price objective on Karman in a report on Wednesday, May 13th. Piper Sandler reissued an “overweight” rating and set a $91.00 price target (down from $114.00) on shares of Karman in a report on Friday, August 7th. BWS Financial restated a “sell” rating and issued a $37.00 price target on shares of Karman in a research note on Monday, August 10th. Truist Financial decreased their price objective on Karman from $118.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, August 13th. Finally, Weiss Ratings raised Karman from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.10.

Karman Price Performance

The company’s fifty day moving average price is $51.46 and its 200 day moving average price is $70.13. The company has a market capitalization of $7.01 billion, a P/E ratio of 182.52 and a beta of 0.55. The company has a quick ratio of 3.40, a current ratio of 3.56 and a debt-to-equity ratio of 2.01.

Karman (NYSE:KRMN) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.01. Karman had a return on equity of 15.54% and a net margin of 6.31%.The business had revenue of $182.06 million during the quarter. During the same quarter last year, the firm posted $0.10 earnings per share. The company’s quarterly revenue was up 58.2% on a year-over-year basis. As a group, sell-side analysts forecast that Karman Holdings Inc. will post 0.58 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Grandeur Peak Global Advisors LLC lifted its position in Karman by 98.4% during the second quarter. Grandeur Peak Global Advisors LLC now owns 59,025 shares of the company’s stock worth $2,947,000 after purchasing an additional 29,281 shares during the period. Wedbush Securities Inc. acquired a new position in shares of Karman in the 2nd quarter valued at approximately $304,000. Wellington Management Group LLP bought a new stake in shares of Karman during the 2nd quarter worth approximately $16,086,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Karman during the 2nd quarter worth approximately $973,000. Finally, Ranger Investment Management L.P. bought a new position in Karman in the second quarter valued at approximately $13,902,000.

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.