Karat Packaging (NASDAQ:KRT - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued to clients and investors on Sunday.
Separately, Truist Financial raised their price objective on Karat Packaging from $28.00 to $31.00 and gave the company a "hold" rating in a research note on Monday, May 12th.
Get Our Latest Stock Analysis on Karat Packaging
Karat Packaging Stock Up 2.0%
Shares of NASDAQ:KRT traded up $0.55 during trading on Friday, reaching $28.63. 52,162 shares of the stock were exchanged, compared to its average volume of 50,023. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.86 and a quick ratio of 1.53. Karat Packaging has a 1-year low of $23.00 and a 1-year high of $33.89. The stock has a fifty day moving average of $29.21 and a two-hundred day moving average of $28.72. The firm has a market cap of $574.89 million, a price-to-earnings ratio of 19.09 and a beta of 1.12.
Insider Activity at Karat Packaging
In other news, CEO Alan Yu sold 750,000 shares of the business's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $27.00, for a total transaction of $20,250,000.00. Following the completion of the transaction, the chief executive officer owned 6,203,805 shares of the company's stock, valued at approximately $167,502,735. The trade was a 10.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 66.20% of the company's stock.
Institutional Trading of Karat Packaging
Hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC increased its stake in shares of Karat Packaging by 9.0% in the first quarter. Acadian Asset Management LLC now owns 245,734 shares of the company's stock worth $6,529,000 after buying an additional 20,262 shares during the period. American Century Companies Inc. increased its stake in shares of Karat Packaging by 13.2% in the first quarter. American Century Companies Inc. now owns 212,340 shares of the company's stock worth $5,644,000 after buying an additional 24,791 shares during the period. Geode Capital Management LLC increased its stake in shares of Karat Packaging by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 182,271 shares of the company's stock worth $5,517,000 after buying an additional 3,626 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Karat Packaging by 9.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 145,946 shares of the company's stock worth $4,416,000 after buying an additional 12,676 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in shares of Karat Packaging by 11.8% in the first quarter. Russell Investments Group Ltd. now owns 89,028 shares of the company's stock worth $2,366,000 after buying an additional 9,383 shares during the period. Institutional investors own 25.20% of the company's stock.
About Karat Packaging
(
Get Free Report)
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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