Karat Packaging (NASDAQ:KRT) Upgraded by Wall Street Zen to Strong-Buy Rating

Wall Street Zen upgraded shares of Karat Packaging (NASDAQ:KRT) from a buy rating to a strong-buy rating in a research note published on Sunday.

Several other analysts have also commented on KRT. Zacks Research raised shares of Karat Packaging from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of Karat Packaging in a research note on Thursday, January 22nd. Finally, Bank of America set a $24.00 target price on Karat Packaging and gave the company an “underperform” rating in a research report on Friday, March 13th. Three 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, Karat Packaging presently has a consensus rating of “Reduce” and an average price target of $27.50.

Karat Packaging Price Performance

Karat Packaging stock opened at $26.91 on Friday. The company has a current ratio of 2.30, a quick ratio of 1.13 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average price of $25.04 and a 200 day moving average price of $24.01. Karat Packaging has a 12-month low of $20.61 and a 12-month high of $32.68. The stock has a market cap of $537.12 million, a P/E ratio of 17.25, a PEG ratio of 1.05 and a beta of 1.09.

Karat Packaging (NASDAQ:KRT) last posted its earnings results on Thursday, March 12th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.06. Karat Packaging had a net margin of 6.73% and a return on equity of 19.63%. The company had revenue of $115.62 million for the quarter, compared to analyst estimates of $113.95 million. Sell-side analysts anticipate that Karat Packaging will post 1.66 earnings per share for the current year.

Karat Packaging Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 20th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, February 20th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.7%. Karat Packaging’s dividend payout ratio (DPR) is presently 115.38%.

Institutional Trading of Karat Packaging

Institutional investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue purchased a new position in shares of Karat Packaging during the third quarter worth $27,000. Clearstead Advisors LLC raised its holdings in shares of Karat Packaging by 188.8% in the 4th quarter. Clearstead Advisors LLC now owns 1,493 shares of the company’s stock valued at $34,000 after buying an additional 976 shares during the period. CWM LLC raised its holdings in shares of Karat Packaging by 378.4% in the 3rd quarter. CWM LLC now owns 1,641 shares of the company’s stock valued at $41,000 after buying an additional 1,298 shares during the period. Quarry LP acquired a new position in Karat Packaging during the 3rd quarter worth about $70,000. Finally, Deutsche Bank AG lifted its stake in Karat Packaging by 142.8% during the 4th quarter. Deutsche Bank AG now owns 3,861 shares of the company’s stock worth $87,000 after acquiring an additional 2,271 shares in the last quarter. Institutional investors and hedge funds own 25.20% of the company’s stock.

About Karat Packaging

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.