Truist Financial Issues Positive Forecast for Karat Packaging (NASDAQ:KRT) Stock Price

Karat Packaging (NASDAQ:KRT - Get Free Report) had its price target boosted by stock analysts at Truist Financial from $28.00 to $31.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a "hold" rating on the stock. Truist Financial's price target indicates a potential downside of 0.86% from the stock's previous close.

Karat Packaging Price Performance

KRT traded up $0.75 during trading on Monday, reaching $31.27. 96,942 shares of the company traded hands, compared to its average volume of 40,139. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.82 and a current ratio of 3.12. Karat Packaging has a 12-month low of $23.00 and a 12-month high of $33.89. The firm has a fifty day simple moving average of $26.86 and a 200 day simple moving average of $29.05. The company has a market cap of $627.28 million, a P/E ratio of 22.34 and a beta of 1.12.

Karat Packaging (NASDAQ:KRT - Get Free Report) last announced its quarterly earnings data on Thursday, March 13th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.14). Karat Packaging had a net margin of 6.78% and a return on equity of 19.84%. The company had revenue of $101.65 million for the quarter, compared to analysts' expectations of $102.27 million. On average, equities analysts forecast that Karat Packaging will post 1.66 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in Karat Packaging by 4,151.4% during the first quarter. GAMMA Investing LLC now owns 1,488 shares of the company's stock worth $40,000 after buying an additional 1,453 shares during the period. Deutsche Bank AG lifted its stake in Karat Packaging by 773.6% in the fourth quarter. Deutsche Bank AG now owns 1,590 shares of the company's stock worth $48,000 after acquiring an additional 1,408 shares during the period. Copeland Capital Management LLC lifted its stake in Karat Packaging by 38.4% in the fourth quarter. Copeland Capital Management LLC now owns 2,604 shares of the company's stock worth $79,000 after acquiring an additional 722 shares during the period. Harel Insurance Investments & Financial Services Ltd. lifted its stake in Karat Packaging by 40.8% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,180 shares of the company's stock worth $157,000 after acquiring an additional 1,500 shares during the period. Finally, Comerica Bank lifted its stake in Karat Packaging by 107.8% in the fourth quarter. Comerica Bank now owns 5,262 shares of the company's stock worth $159,000 after acquiring an additional 2,730 shares during the period. 25.20% of the stock is owned by hedge funds and other institutional investors.

About Karat Packaging

Karat Packaging Inc, together with its subsidiaries, engages in the manufacture and distribution of single-use disposable products in plastic, paper, biopolymer-based, and other compostable forms used in various restaurant and foodservice settings. It provides food and take-out containers, bags, tableware, cups, lids, cutlery, straws, specialty beverage ingredients, equipment, gloves, and other products under the Karat Earth brand.