Karat Packaging (NASDAQ:KRT) Upgraded at Wall Street Zen

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

Several other research analysts have also recently weighed in on the company. The Goldman Sachs Group cut Karat Packaging to a “neutral” rating in a research report on Thursday, June 4th. Zacks Research cut shares of Karat Packaging from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 12th. Weiss Ratings upgraded shares of Karat Packaging from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 12th. Bank of America upped their price target on shares of Karat Packaging from $23.00 to $34.00 and gave the company an “underperform” rating in a research note on Tuesday, July 14th. Finally, William Blair raised shares of Karat Packaging from a “market perform” rating to an “outperform” rating in a research report on Thursday, June 4th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $36.50.

Karat Packaging Trading Down 0.2%

Shares of NASDAQ:KRT opened at $47.80 on Friday. Karat Packaging has a 12-month low of $20.61 and a 12-month high of $50.81. The business has a 50 day moving average of $36.86 and a 200-day moving average of $30.41. The company has a quick ratio of 1.25, a current ratio of 2.25 and a debt-to-equity ratio of 0.13. The stock has a market cap of $952.65 million, a PE ratio of 19.12, a P/E/G ratio of 2.07 and a beta of 0.82.

Karat Packaging (NASDAQ:KRT) last announced its earnings results 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 company had revenue of $136.30 million for the quarter, compared to analyst estimates of $135.46 million. Karat Packaging had a return on equity of 30.62% and a net margin of 10.18%. As a group, equities research analysts forecast that Karat Packaging will post 1.78 earnings per share for the current year.

Karat Packaging Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 21st will be given a dividend of $0.47 per share. This is an increase from Karat Packaging’s previous quarterly dividend of $0.45. This represents a $1.88 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Friday, August 21st. Karat Packaging’s dividend payout ratio (DPR) is currently 72.00%.

Hedge Funds Weigh In On Karat Packaging

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of Karat Packaging during the 2nd quarter valued at $19,840,000. Ranger Investment Management L.P. bought a new position in shares of Karat Packaging in the second quarter worth $11,129,000. Bank of Montreal Can bought a new position in shares of Karat Packaging in the fourth quarter worth $5,216,000. KTF Investments LLC acquired a new position in Karat Packaging in the fourth quarter valued at about $5,075,000. Finally, De Lisle Partners LLP acquired a new position in Karat Packaging in the second quarter valued at about $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.