Karat Packaging (NASDAQ:KRT) Sees Large Volume Increase – Time to Buy?

Karat Packaging Inc. (NASDAQ:KRT) saw an uptick in trading volume on Friday . 103,620 shares traded hands during trading, an increase of 40% from the previous session’s volume of 74,255 shares.The stock last traded at $30.20 and had previously closed at $28.75.

Analyst Upgrades and Downgrades

Several research firms have commented on KRT. Bank of America set a $24.00 price objective on shares of Karat Packaging and gave the company an “underperform” rating in a report on Friday, March 13th. Wall Street Zen raised shares of Karat Packaging from a “buy” rating to a “strong-buy” rating in a report on Sunday, March 22nd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Karat Packaging in a report on Thursday, January 22nd. Finally, Zacks Research raised shares of Karat Packaging from a “hold” rating to a “strong-buy” rating in a report on Friday, March 20th. One analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Karat Packaging presently has a consensus rating of “Hold” and an average target price of $27.50.

Karat Packaging Stock Up 5.0%

The company has a debt-to-equity ratio of 0.15, a current ratio of 2.30 and a quick ratio of 1.13. The company has a market cap of $602.91 million, a PE ratio of 19.36, a price-to-earnings-growth ratio of 1.11 and a beta of 0.99. The company has a fifty day moving average price of $26.43 and a 200 day moving average price of $24.53.

Karat Packaging (NASDAQ:KRT) last issued its quarterly earnings data on Thursday, March 12th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.28 by $0.06. Karat Packaging had a return on equity of 19.63% and a net margin of 6.73%.The company had revenue of $115.62 million during the quarter, compared to analyst estimates of $113.95 million. As a group, analysts anticipate that Karat Packaging Inc. will post 1.66 EPS for the current year.

Karat Packaging Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 20th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, February 20th. This represents a $1.80 annualized dividend and a dividend yield of 6.0%. Karat Packaging’s payout ratio is presently 115.38%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Wellington Management Group LLP purchased a new position in shares of Karat Packaging during the fourth quarter worth about $711,000. Polymer Capital Management US LLC grew its holdings in shares of Karat Packaging by 15.3% during the fourth quarter. Polymer Capital Management US LLC now owns 14,421 shares of the company’s stock worth $325,000 after purchasing an additional 1,918 shares in the last quarter. Inspire Investing LLC grew its holdings in shares of Karat Packaging by 13.6% during the fourth quarter. Inspire Investing LLC now owns 20,784 shares of the company’s stock worth $469,000 after purchasing an additional 2,496 shares in the last quarter. Engineers Gate Manager LP grew its holdings in shares of Karat Packaging by 13.2% during the fourth quarter. Engineers Gate Manager LP now owns 27,167 shares of the company’s stock worth $613,000 after purchasing an additional 3,170 shares in the last quarter. Finally, Polar Asset Management Partners Inc. grew its holdings in shares of Karat Packaging by 57.1% during the fourth quarter. Polar Asset Management Partners Inc. now owns 314,100 shares of the company’s stock worth $7,089,000 after purchasing an additional 114,204 shares in the last quarter. Hedge funds and other institutional investors own 25.20% of the company’s stock.

About Karat Packaging

Karat Packaging Technologies, Inc (NASDAQ: KRT) is a U.S.-based provider of premium packaging solutions for consumer goods and industrial products. The company specializes in the design, manufacture and delivery of high-quality litho-laminated folding cartons, tubes and flexible packaging. Karat Packaging operates an integrated production model that combines prepress, printing, converting and finishing capabilities to support the branding and shelf-appeal needs of its customers.

The company serves a diverse range of end markets, including food and beverage, confectionery, health and beauty, pharmaceuticals, specialty chemicals and promotional packaging.