Karat Packaging Inc. (NASDAQ:KRT) Given Average Rating of “Hold” by Analysts

Karat Packaging Inc. (NASDAQ:KRT) has received a consensus rating of “Hold” from the six analysts that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $36.50.

A number of brokerages recently issued reports on KRT. Wall Street Zen upgraded shares of Karat Packaging from a “hold” rating to a “buy” rating in a research note on Saturday. William Blair upgraded shares of Karat Packaging from a “market perform” rating to an “outperform” rating in a research note on Thursday, June 4th. Zacks Research cut shares of Karat Packaging from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 12th. Lake Street Capital reiterated a “buy” rating and issued a $39.00 target price on shares of Karat Packaging in a research note on Friday, May 8th. Finally, The Goldman Sachs Group cut shares of Karat Packaging to a “neutral” rating in a report on Thursday, June 4th.

Institutional Trading of Karat Packaging

Institutional investors have recently added to or reduced their stakes in the business. Clearstead Advisors LLC increased its holdings in shares of Karat Packaging by 188.8% in the 4th quarter. Clearstead Advisors LLC now owns 1,493 shares of the company’s stock worth $34,000 after purchasing an additional 976 shares in the last quarter. CWM LLC raised its stake in shares of Karat Packaging by 61.5% in the fourth quarter. CWM LLC now owns 2,651 shares of the company’s stock worth $60,000 after purchasing an additional 1,010 shares during the last quarter. Quarry LP bought a new position in shares of Karat Packaging during the third quarter valued at $70,000. Legal & General Group Plc bought a new position in shares of Karat Packaging during the second quarter valued at $75,000. Finally, Deutsche Bank AG boosted its position in shares of Karat Packaging by 142.8% during the fourth quarter. Deutsche Bank AG now owns 3,861 shares of the company’s stock valued at $87,000 after buying an additional 2,271 shares during the last quarter. 25.20% of the stock is currently owned by hedge funds and other institutional investors.

Karat Packaging Price Performance

Shares of NASDAQ:KRT opened at $47.91 on Monday. The company has a current ratio of 2.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.13. The stock has a fifty day simple moving average of $36.49 and a two-hundred day simple moving average of $30.24. Karat Packaging has a 12-month low of $20.61 and a 12-month high of $50.81. The stock has a market capitalization of $954.85 million, a price-to-earnings ratio of 19.16, a PEG ratio of 2.07 and a beta of 0.82.

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

Karat Packaging Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 21st will be given a $0.47 dividend. This is a boost from Karat Packaging’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, August 21st. This represents a $1.88 annualized dividend and a yield of 3.9%. Karat Packaging’s payout ratio is currently 72.00%.

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.