Karman (NYSE:KRMN) Given New $58.00 Price Target at Citigroup

Karman (NYSE:KRMN) had its price objective lifted by Citigroup from $46.50 to $58.00 in a report released on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also issued reports on the company. Baird R W raised Karman to a “strong-buy” rating in a research note on Monday, March 10th. Evercore ISI started coverage on Karman in a research note on Monday, March 10th. They set an “outperform” rating and a $38.00 target price for the company. William Blair assumed coverage on shares of Karman in a research report on Monday, March 10th. They issued an “outperform” rating on the stock. Royal Bank of Canada raised their price objective on shares of Karman from $38.00 to $44.00 and gave the company an “outperform” rating in a research report on Wednesday, May 14th. Finally, Robert W. Baird boosted their target price on shares of Karman from $40.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, May 14th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $47.50.

Karman Trading Up 0.9%

Shares of NYSE KRMN opened at $46.86 on Monday. The company’s 50-day moving average is $37.89. Karman has a fifty-two week low of $25.02 and a fifty-two week high of $47.55.

Karman (NYSE:KRMN) last issued its quarterly earnings results on Tuesday, May 13th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. The company had revenue of $100.12 million during the quarter, compared to analyst estimates of $95.40 million. The firm’s quarterly revenue was up 20.6% on a year-over-year basis.

Hedge Funds Weigh In On Karman

A number of institutional investors have recently bought and sold shares of KRMN. Bank of New York Mellon Corp acquired a new position in Karman in the 1st quarter worth approximately $22,515,000. Caas Capital Management LP acquired a new position in Karman during the first quarter valued at $3,192,000. Stephens Investment Management Group LLC acquired a new position in Karman during the first quarter valued at $8,740,000. SBI Securities Co. Ltd. purchased a new stake in Karman in the 1st quarter worth about $107,000. Finally, TimesSquare Capital Management LLC acquired a new stake in Karman during the 1st quarter worth about $14,891,000.

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.