Karman (NYSE:KRMN) Stock Price Down 16% - Here's Why

Karman Holdings Inc. (NYSE:KRMN - Get Free Report) fell 16% during trading on Friday . The company traded as low as $27.34 and last traded at $27.61. 1,187,677 shares changed hands during mid-day trading, an increase of 23% from the average session volume of 962,222 shares. The stock had previously closed at $32.85.

Analysts Set New Price Targets

A number of equities analysts have issued reports on KRMN shares. Evercore ISI began coverage on shares of Karman in a research report on Monday, March 10th. They set an "outperform" rating and a $38.00 price target for the company. Citigroup began coverage on shares of Karman in a report on Monday, March 10th. They set a "buy" rating and a $42.00 target price for the company. Royal Bank of Canada upped their price target on shares of Karman from $35.00 to $38.00 and gave the company an "outperform" rating in a report on Thursday, April 3rd. Baird R W upgraded Karman to a "strong-buy" rating in a research note on Monday, March 10th. Finally, William Blair initiated coverage on Karman in a research note on Monday, March 10th. They issued an "outperform" rating on the stock. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $39.50.

Karman Stock Performance

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.