Karat Packaging (NASDAQ:KRT) Rating Increased to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Karat Packaging to “buy” from “hold,” although the broader analyst consensus remains “hold,” with an average price target of $36.50.
• Karat Packaging reported quarterly earnings of $1.48 per share, significantly above the $0.47 consensus estimate, while revenue of $136.3 million slightly exceeded forecasts.
• KRT opened at $47.91 and has climbed close to its 52-week high of $50.81; institutional investors own approximately 25.2% of the company.

Karat Packaging (NASDAQ:KRT - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday.

KRT has been the topic of a number of other reports. Bank of America increased their target price on Karat Packaging from $23.00 to $34.00 and gave the stock an "underperform" rating in a research note on Tuesday, July 14th. Weiss Ratings raised Karat Packaging from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday. The Goldman Sachs Group cut shares of Karat Packaging to a "neutral" rating in a research note on Thursday, June 4th. Lake Street Capital reissued a "buy" rating and set a $39.00 price objective on shares of Karat Packaging in a research report on Friday, May 8th. Finally, Zacks Research lowered shares of Karat Packaging from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 12th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $36.50.

Karat Packaging Stock Performance

Shares of KRT opened at $47.91 on Friday. The company has a quick ratio of 1.15, a current ratio of 2.25 and a debt-to-equity ratio of 0.13. The stock has a market cap of $954.85 million, a P/E ratio of 19.16, a P/E/G ratio of 2.07 and a beta of 0.82. The business's 50 day moving average price is $36.49 and its 200-day moving average price is $30.20. Karat Packaging has a 52 week low of $20.61 and a 52 week high of $50.81.

Karat Packaging (NASDAQ:KRT - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $1.48 earnings per share for the quarter, beating analysts' consensus estimates of $0.47 by $1.01. The company had revenue of $136.30 million during 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%. Equities research analysts anticipate that Karat Packaging will post 1.78 earnings per share for the current fiscal year.

Institutional Trading of Karat Packaging

A number of large investors have recently made changes to their positions in KRT. Stifel Financial Corp lifted its position in Karat Packaging by 1.8% during the fourth quarter. Stifel Financial Corp now owns 22,798 shares of the company's stock valued at $515,000 after purchasing an additional 398 shares during the period. First Trust Advisors LP boosted its holdings in Karat Packaging by 1.9% in the fourth quarter. First Trust Advisors LP now owns 27,345 shares of the company's stock worth $617,000 after purchasing an additional 508 shares during the last quarter. Lazard Asset Management LLC grew its position in Karat Packaging by 1.9% in the 2nd quarter. Lazard Asset Management LLC now owns 40,390 shares of the company's stock worth $1,137,000 after purchasing an additional 770 shares during the period. Clearstead Advisors LLC grew its position in 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 purchasing an additional 976 shares during the period. Finally, CWM LLC raised its stake in Karat Packaging by 61.5% during the 4th quarter. CWM LLC now owns 2,651 shares of the company's stock valued at $60,000 after buying an additional 1,010 shares during the last quarter. 25.20% of the stock is currently owned by institutional investors.

Karat Packaging Company Profile

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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