Karat Packaging Inc. (NASDAQ:KRT) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Karat Packaging Inc. (NASDAQ:KRT) have received an average recommendation of “Hold” from the five brokerages that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $27.50.

Several equities research analysts have recently issued reports on KRT shares. Wall Street Zen upgraded Karat Packaging from a “buy” rating to a “strong-buy” rating in a report on Sunday, March 22nd. Lake Street Capital restated a “buy” rating on shares of Karat Packaging in a report on Friday. Bank of America set a $24.00 price objective on Karat Packaging and gave the stock an “underperform” rating in a report on Friday, March 13th. Weiss Ratings restated a “hold (c+)” rating on shares of Karat Packaging in a report on Thursday, January 22nd. Finally, Zacks Research upgraded Karat Packaging from a “hold” rating to a “strong-buy” rating in a report on Friday, March 20th.

Karat Packaging Trading Down 6.8%

Shares of KRT stock traded down $2.07 during mid-day trading on Friday, hitting $28.34. 32,584 shares of the company’s stock were exchanged, compared to its average volume of 75,888. Karat Packaging has a fifty-two week low of $20.61 and a fifty-two week high of $32.68. The stock has a 50-day simple moving average of $27.35 and a two-hundred day simple moving average of $25.00. The company has a quick ratio of 1.13, a current ratio of 2.30 and a debt-to-equity ratio of 0.15. The stock has a market cap of $565.73 million, a price-to-earnings ratio of 18.14, a PEG ratio of 1.15 and a beta of 0.93.

Karat Packaging (NASDAQ:KRT) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.02. Karat Packaging had a return on equity of 19.63% and a net margin of 6.73%.The business had revenue of $116.95 million for the quarter, compared to analysts’ expectations of $112.98 million. Equities analysts expect that Karat Packaging will post 1.98 EPS for the current fiscal year.

Karat Packaging Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 28th. Investors of record on Thursday, May 21st will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 6.4%. The ex-dividend date of this dividend is Thursday, May 21st. Karat Packaging’s dividend payout ratio (DPR) is 115.38%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. State of Alaska Department of Revenue purchased a new position in shares of Karat Packaging in the 3rd quarter worth $27,000. Clearstead Advisors LLC raised its position 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 buying an additional 976 shares during the period. CWM LLC raised its position in shares of Karat Packaging by 378.4% in the 3rd quarter. CWM LLC now owns 1,641 shares of the company’s stock worth $41,000 after buying an additional 1,298 shares during the period. Quarry LP purchased a new position in shares of Karat Packaging in the 3rd quarter worth $70,000. Finally, Deutsche Bank AG raised its position in shares of Karat Packaging by 142.8% in the 4th quarter. Deutsche Bank AG now owns 3,861 shares of the company’s stock worth $87,000 after buying an additional 2,271 shares during the period. 25.20% of the stock is owned by hedge funds and other institutional investors.

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.