Karat Packaging (NASDAQ:KRT) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Karat Packaging (NASDAQ:KRT) from a hold rating to a buy rating in a research report report published on Saturday.

Other equities research analysts have also issued research reports about the stock. Weiss Ratings upgraded shares of Karat Packaging from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday. William Blair upgraded Karat Packaging from a “market perform” rating to an “outperform” rating in a research report on Thursday, June 4th. Bank of America increased their price objective on Karat Packaging from $23.00 to $34.00 and gave the stock an “underperform” rating in a report on Tuesday, July 14th. Lake Street Capital restated a “buy” rating and issued a $39.00 target price on shares of Karat Packaging in a research report on Friday, May 8th. Finally, The Goldman Sachs Group cut Karat Packaging to a “neutral” rating in a research report on Thursday, June 4th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $36.50.

Karat Packaging Stock Performance

Shares of KRT opened at $47.91 on Friday. The firm has a fifty day moving average of $36.49 and a 200-day moving average of $30.20. The company has a market cap of $954.85 million, a price-to-earnings ratio of 19.16, a price-to-earnings-growth ratio of 2.07 and a beta of 0.82. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.15 and a current ratio of 2.25. Karat Packaging has a 1 year low of $20.61 and a 1 year high of $50.81.

Karat Packaging (NASDAQ:KRT) last released its quarterly earnings data on Thursday, August 6th. The company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $1.01. The business had revenue of $136.30 million for the quarter, compared to analysts’ expectations of $135.46 million. Karat Packaging had a net margin of 10.18% and a return on equity of 30.62%. As a group, equities analysts anticipate that Karat Packaging will post 1.78 earnings per share for the current year.

Karat Packaging Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 21st will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Friday, August 21st. This is a positive change from Karat Packaging’s previous quarterly dividend of $0.45. Karat Packaging’s dividend payout ratio is 72.00%.

Institutional Trading of Karat Packaging

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in Karat Packaging during the second quarter worth approximately $19,840,000. Ranger Investment Management L.P. bought a new position in Karat Packaging during the 2nd quarter valued at $11,129,000. Bank of Montreal Can bought a new position in Karat Packaging during the 4th quarter valued at $5,216,000. KTF Investments LLC acquired a new position in shares of Karat Packaging during the 4th quarter valued at $5,075,000. Finally, De Lisle Partners LLP acquired a new position in shares of Karat Packaging during the 2nd quarter valued at $7,307,000. 25.20% of the stock is owned by institutional investors and hedge funds.

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.