Karat Packaging (NASDAQ:KRT) Upgraded at Wall Street Zen
by Tristan Rich · The Markets DailyWall Street Zen upgraded shares of Karat Packaging (NASDAQ:KRT – Free Report) from a hold rating to a buy rating in a research report released on Saturday morning.
Several other research analysts have also weighed in on the stock. Zacks Research upgraded shares of Karat Packaging from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Bank of America set a $24.00 target price on shares of Karat Packaging and gave the company an “underperform” rating in a report on Friday. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Karat Packaging in a research report on Thursday, January 22nd. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $27.50.
Check Out Our Latest Stock Analysis on KRT
Karat Packaging Stock Performance
Karat Packaging stock opened at $27.82 on Friday. The firm has a market capitalization of $559.18 million, a P/E ratio of 17.83 and a beta of 1.09. The stock has a fifty day moving average price of $24.75 and a 200 day moving average price of $23.94. Karat Packaging has a 52 week low of $20.61 and a 52 week high of $32.68. The company has a current ratio of 2.14, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.
Karat Packaging (NASDAQ:KRT – Get Free Report) last released its earnings results on Thursday, March 12th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.06. Karat Packaging had a return on equity of 19.49% and a net margin of 6.73%.The firm had revenue of $115.62 million for the quarter, compared to the consensus estimate of $113.95 million. Equities research analysts anticipate that Karat Packaging will post 1.66 earnings per share for the current year.
Karat Packaging Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 20th were issued a dividend of $0.45 per share. The ex-dividend date was Friday, February 20th. This represents a $1.80 annualized dividend and a dividend yield of 6.5%. Karat Packaging’s payout ratio is presently 115.38%.
Institutional Trading of Karat Packaging
Several large investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue purchased a new position in Karat Packaging in the third quarter valued at about $27,000. Clearstead Advisors LLC boosted its position in shares of Karat Packaging by 188.8% in the fourth quarter. Clearstead Advisors LLC now owns 1,493 shares of the company’s stock worth $34,000 after buying an additional 976 shares during the period. CWM LLC boosted its position in shares of Karat Packaging by 378.4% in the third quarter. CWM LLC now owns 1,641 shares of the company’s stock worth $41,000 after buying an additional 1,298 shares during the period. Quarry LP acquired a new stake in shares of Karat Packaging in the third quarter valued at about $70,000. Finally, Deutsche Bank AG grew its stake in shares of Karat Packaging by 142.8% in the fourth quarter. Deutsche Bank AG now owns 3,861 shares of the company’s stock valued at $87,000 after buying an additional 2,271 shares in the last quarter. 25.20% of the stock is currently owned by institutional investors and hedge funds.
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.