Karman (NYSE:KRMN) Price Target Lowered to $85.00 at Royal Bank Of Canada

Karman (NYSE:KRMN) had its price objective trimmed by Royal Bank Of Canada from $100.00 to $85.00 in a report issued on Friday morning, MarketBeat reports. The firm currently has an outperform rating on the stock.

A number of other brokerages have also issued reports on KRMN. Truist Financial upgraded Karman to a “strong-buy” rating in a research note on Friday, May 1st. Needham & Company LLC restated a “buy” rating and issued a $125.00 price objective on shares of Karman in a research report on Thursday, April 9th. Evercore set a $100.00 price objective on Karman in a research note on Wednesday, May 13th. Weiss Ratings downgraded Karman from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, June 29th. Finally, KeyCorp lowered their price target on Karman from $122.00 to $100.00 and set an “overweight” rating on the stock in a report on Wednesday, May 20th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Karman has a consensus rating of “Moderate Buy” and a consensus target price of $102.00.

Karman Trading Down 3.9%

Karman stock opened at $47.76 on Friday. Karman has a 12-month low of $43.68 and a 12-month high of $118.38. The firm has a market capitalization of $6.33 billion, a price-to-earnings ratio of 207.66 and a beta of 0.51. The firm has a 50 day moving average of $52.30 and a 200 day moving average of $76.63. The company has a current ratio of 3.53, a quick ratio of 3.38 and a debt-to-equity ratio of 2.08.

Karman (NYSE:KRMN) last posted its quarterly earnings results on Tuesday, May 12th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.03. The business had revenue of $151.21 million during the quarter, compared to analyst estimates of $150.19 million. Karman had a net margin of 5.73% and a return on equity of 14.94%. The company’s revenue was up 51.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.05 earnings per share. As a group, research analysts predict that Karman will post 0.58 earnings per share for the current year.

Hedge Funds Weigh In On Karman

Hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC purchased a new stake in shares of Karman during the first quarter valued at $10,199,000. Goldman Sachs Group Inc. purchased a new position in shares of Karman during the first quarter worth approximately $17,371,000. Jane Street Group LLC bought a new stake in shares of Karman during the first quarter valued at approximately $532,000. Rhumbline Advisers bought a new stake in shares of Karman during the second quarter valued at approximately $1,316,000. Finally, New York State Common Retirement Fund purchased a new stake in shares of Karman in the second quarter valued at approximately $554,000.

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.