Needham & Company LLC Begins Coverage on Karman (NYSE:KRMN)

Needham & Company LLC began coverage on shares of Karman (NYSE:KRMN) in a research report issued to clients and investors on Friday, MarketBeat Ratings reports. The firm set a “buy” rating and a $125.00 price target on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 25.09% from the company’s previous close.

A number of other brokerages have also recently issued reports on KRMN. Truist Financial set a $118.00 target price on Karman in a research report on Friday, January 9th. Evercore boosted their price objective 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. KeyCorp upped their price objective on shares of Karman from $80.00 to $122.00 and gave the stock an “overweight” rating in a report on Wednesday, January 28th. Piper Sandler upgraded shares of Karman from a “neutral” rating to an “overweight” rating and raised their target price for the company from $110.00 to $127.00 in a research note on Friday, March 6th. Finally, BWS Financial reiterated a “sell” rating and issued a $37.00 target price on shares of Karman in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $108.40.

Karman Stock Up 1.0%

Shares of KRMN stock opened at $99.93 on Friday. The stock’s 50 day simple moving average is $96.90 and its 200 day simple moving average is $79.31. 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 twelve month low of $25.02 and a twelve month high of $118.38. The company has a market capitalization of $13.22 billion and a price-to-earnings ratio of 399.73.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC acquired a new position in shares of Karman during the first quarter worth approximately $10,199,000. Goldman Sachs Group Inc. acquired a new stake in shares of Karman in the first quarter worth $17,371,000. Jane Street Group LLC acquired a new stake in shares of Karman in the first quarter worth $532,000. Envestnet Asset Management Inc. bought a new position in Karman during the second quarter worth $762,000. Finally, Penserra Capital Management LLC bought a new position in Karman during the second quarter worth $95,000.

Karman Company Profile

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.