Shares of Karat Packaging Inc. (NASDAQ:KRT - Get Free Report) have been assigned a consensus recommendation of "Hold" from the six research firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $36.50.
Several brokerages have commented on KRT. Bank of America upped their price objective on shares of Karat Packaging from $23.00 to $34.00 and gave the stock an "underperform" rating in a report on Tuesday, July 14th. Wall Street Zen upgraded shares of Karat Packaging from a "hold" rating to a "buy" rating in a research report on Saturday. The Goldman Sachs Group downgraded shares of Karat Packaging to a "neutral" rating in a research note on Thursday, June 4th. William Blair upgraded shares of Karat Packaging from a "market perform" rating to an "outperform" rating in a report on Thursday, June 4th. Finally, Lake Street Capital reaffirmed a "buy" rating and set a $39.00 price objective on shares of Karat Packaging in a research report on Friday, May 8th.
Get Our Latest Stock Report on KRT
Hedge Funds Weigh In On Karat Packaging
A number of institutional investors have recently added to or reduced their stakes in KRT. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Karat Packaging by 87.2% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 107,730 shares of the company's stock worth $2,431,000 after acquiring an additional 50,178 shares in the last quarter. North Star Investment Management Corp. bought a new stake in Karat Packaging during the fourth quarter worth about $1,377,000. KTF Investments LLC purchased a new stake in Karat Packaging in the fourth quarter worth about $5,075,000. Arrowstreet Capital Limited Partnership purchased a new stake in Karat Packaging in the first quarter worth about $437,000. Finally, Ranger Investment Management L.P. increased its stake in shares of Karat Packaging by 8.1% during the first quarter. Ranger Investment Management L.P. now owns 325,104 shares of the company's stock valued at $9,077,000 after purchasing an additional 24,405 shares in the last quarter. Institutional investors own 25.20% of the company's stock.
Karat Packaging Stock Performance
KRT opened at $47.91 on Monday. The firm 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 has a one year low of $20.61 and a one year high of $50.81. The business has a 50 day simple moving average of $36.49 and a two-hundred day simple moving average of $30.24. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.25 and a quick ratio of 1.25.
Karat Packaging (NASDAQ:KRT - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $1.01. The firm had revenue of $136.30 million for the quarter, compared to analysts' expectations of $135.46 million. Karat Packaging had a return on equity of 30.62% and a net margin of 10.18%. Analysts predict that Karat Packaging will post 1.78 EPS for the current year.
Karat Packaging Increases Dividend
The company 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 a boost from Karat Packaging's previous quarterly dividend of $0.45. This represents a $1.88 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Friday, August 21st. Karat Packaging's dividend payout ratio is presently 72.00%.
About Karat Packaging
(
Get Free Report)
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.
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