Karat Packaging (NASDAQ:KRT) Stock Rating Lowered by Wall Street Zen

Karat Packaging (NASDAQ:KRT - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued on Friday.

Separately, Truist Financial upped their price objective on shares of Karat Packaging from $28.00 to $31.00 and gave the stock a "hold" rating in a report on Monday, May 12th.

Karat Packaging Price Performance

Shares of NASDAQ KRT traded up $0.32 during mid-day trading on Friday, reaching $31.22. 58,509 shares of the company were exchanged, compared to its average volume of 40,943. The company's 50 day moving average price is $27.80 and its 200 day moving average price is $29.31. Karat Packaging has a 52 week low of $23.00 and a 52 week high of $33.89. The company has a quick ratio of 1.82, a current ratio of 3.12 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $626.27 million, a PE ratio of 22.30 and a beta of 1.19.

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

Hedge Funds Weigh In On Karat Packaging

A number of hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC boosted its holdings in shares of Karat Packaging by 4,151.4% during the 1st quarter. GAMMA Investing LLC now owns 1,488 shares of the company's stock valued at $40,000 after purchasing an additional 1,453 shares during the last quarter. Deutsche Bank AG lifted its position in shares of 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 buying an additional 1,408 shares in the last quarter. Comerica Bank lifted its position in shares of 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 buying an additional 2,730 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Karat Packaging by 20.8% during the fourth quarter. Wells Fargo & Company MN now owns 5,538 shares of the company's stock valued at $168,000 after buying an additional 955 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in Karat Packaging during the 1st quarter valued at approximately $219,000. Institutional investors own 25.20% of the company's stock.

Karat Packaging Company Profile

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.

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