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

Key Points

• Wall Street Zen upgraded Karat Packaging from “hold” to “buy”, adding a more positive analyst view on the stock.
• Despite the upgrade, the broader analyst picture remains mixed: MarketBeat says the stock still has a consensus rating of “Hold” with an average target price of $31.50.
• Karat Packaging recently reported better-than-expected quarterly results, posting $0.34 EPS versus $0.32 expected and revenue of $116.95 million versus $112.98 million expected.

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 research report issued to clients and investors on Sunday.

A number of other research analysts have also recently commented on the company. Zacks Research cut Karat Packaging from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 12th. William Blair raised shares of Karat Packaging from a "market perform" rating to an "outperform" rating in a research report on Thursday, June 4th. Lake Street Capital reiterated a "buy" rating and set a $39.00 price objective on shares of Karat Packaging in a research note on Friday, May 8th. Weiss Ratings reissued a "hold (c+)" rating on shares of Karat Packaging in a report on Thursday, June 11th. Finally, The Goldman Sachs Group cut shares of Karat Packaging to a "neutral" rating in a research report on Thursday, June 4th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $31.50.

Karat Packaging Stock Performance

Shares of NASDAQ:KRT traded up $0.14 on Friday, reaching $34.18. 53,278 shares of the company's stock were exchanged, compared to its average volume of 135,981. The company has a fifty day moving average of $29.56 and a 200-day moving average of $27.11. Karat Packaging has a twelve month low of $20.61 and a twelve month high of $34.99. The company has a market capitalization of $682.23 million, a price-to-earnings ratio of 21.63, a PEG ratio of 1.70 and a beta of 0.85. The company has a current ratio of 2.29, a quick ratio of 1.15 and a debt-to-equity ratio of 0.15.

Karat Packaging (NASDAQ:KRT - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates of $0.32 by $0.02. The company had revenue of $116.95 million during the quarter, compared to the consensus estimate of $112.98 million. Karat Packaging had a net margin of 6.61% and a return on equity of 19.87%. On average, research analysts predict that Karat Packaging will post 1.78 EPS for the current fiscal year.

Hedge Funds Weigh In On Karat Packaging

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Clearstead Advisors LLC boosted its stake in shares of Karat Packaging by 188.8% during the fourth quarter. Clearstead Advisors LLC now owns 1,493 shares of the company's stock valued at $34,000 after purchasing an additional 976 shares in the last quarter. CWM LLC boosted its position in Karat Packaging by 61.5% during the 4th quarter. CWM LLC now owns 2,651 shares of the company's stock worth $60,000 after buying an additional 1,010 shares during the period. Quarry LP bought a new stake in Karat Packaging during the 3rd quarter worth approximately $70,000. Deutsche Bank AG increased its position in Karat Packaging by 142.8% in the 4th quarter. Deutsche Bank AG now owns 3,861 shares of the company's stock valued at $87,000 after acquiring an additional 2,271 shares during the period. Finally, State of Wyoming acquired a new position in Karat Packaging in the 4th quarter valued at approximately $122,000. Institutional investors and hedge funds own 25.20% of the company's stock.

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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