Karman Holdings Inc. (NYSE:KRMN) is one of the 10 Stocks With Effortless 18-42% Gains.
Karman Holdings soared by 42.13 percent on Friday to end at $45.61 apiece after reporting a 174 percent jump in third-quarter profits and earning bullish ratings from Needham and Piper Sandler.
In an updated report, the space and defense company said that it grew its net income to $21 million in the third quarter of the year from only $7.6 million in the same period last year.
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Revenues increased by 65.5 percent to $201.6 million from $121.79 million year-on-year, amid the strong demand for its services, led by tactical missiles and integrated defense systems, hypersonics and strategic missile defense, as well as space and launches.
As of end-September, Karman Holdings Inc. (NYSE:KRMN) holds a total backlog of $1.7 billion.
Amid the strong results, the company is targeting full-year revenues of $755 million to $760 million and adjusted EBITDA of $225 million and $227 million.
Meanwhile, Piper Sandler reiterated its overweight rating on shares of Karman Holdings Inc. (NYSE:KRMN), while modestly raising its price target to $60 from $59 previously. Needham maintained the stock with a buy recommendation, but lowered its price target to $50 from $80 earlier.
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