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

Karat Packaging Inc. (NASDAQ:KRT) has earned an average rating of “Hold” from the five ratings firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $27.50.

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

Institutional Trading of Karat Packaging

A number of hedge funds and other institutional investors have recently modified their holdings of KRT. State of Alaska Department of Revenue purchased a new stake in shares of Karat Packaging during the third quarter worth about $27,000. Clearstead Advisors LLC increased its position in shares of Karat Packaging by 188.8% during the fourth quarter. Clearstead Advisors LLC now owns 1,493 shares of the company’s stock worth $34,000 after acquiring an additional 976 shares during the last quarter. CWM LLC increased its position in shares of Karat Packaging by 378.4% during the third quarter. CWM LLC now owns 1,641 shares of the company’s stock worth $41,000 after acquiring an additional 1,298 shares during the last quarter. Quarry LP purchased a new stake in shares of Karat Packaging during the third quarter worth about $70,000. Finally, Deutsche Bank AG increased 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 worth $87,000 after acquiring an additional 2,271 shares during the last quarter. 25.20% of the stock is owned by hedge funds and other institutional investors.

Karat Packaging Stock Down 6.8%

NASDAQ:KRT traded down $2.07 during mid-day trading on Friday, hitting $28.34. The company had a trading volume of 32,584 shares, compared to its average volume of 75,888. The business has a fifty day simple moving average of $27.35 and a 200-day simple moving average of $25.00. The company has a current ratio of 2.30, a quick ratio of 1.13 and a debt-to-equity ratio of 0.15. Karat Packaging has a 1 year low of $20.61 and a 1 year high of $32.68. The firm has a market capitalization 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 released its quarterly earnings data on Thursday, May 7th. The company reported $0.34 EPS for the quarter, beating 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 company had revenue of $116.95 million for the quarter, compared to analyst estimates of $112.98 million. Equities analysts forecast that Karat Packaging will post 1.98 earnings per share for the current fiscal year.

Karat Packaging Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 28th. Stockholders of record on Thursday, May 21st will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date of this dividend is Thursday, May 21st. Karat Packaging’s payout ratio is presently 115.38%.

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.