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 report published on Saturday.

Separately, Truist Financial boosted their price target on shares of Karat Packaging from $28.00 to $31.00 and gave the stock a “hold” rating in a research note on Monday, May 12th.

Karat Packaging Stock Down 1.3%

Shares of KRT opened at $30.97 on Friday. The business’s fifty day moving average price is $27.10 and its two-hundred day moving average price is $29.20. The firm has a market capitalization of $621.26 million, a price-to-earnings ratio of 22.12 and a beta of 1.12. Karat Packaging has a 52 week low of $23.00 and a 52 week high of $33.89. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.82 and a current ratio of 3.12.

Karat Packaging (NASDAQ:KRT) last issued its quarterly earnings results on Thursday, March 13th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.14). The firm had revenue of $101.65 million for the quarter, compared to analyst estimates of $102.27 million. Karat Packaging had a net margin of 6.78% and a return on equity of 19.84%. On average, analysts predict that Karat Packaging will post 1.66 earnings per share for the current year.

Karat Packaging Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 16th were issued a $0.45 dividend. The ex-dividend date was Friday, May 16th. This represents a $1.80 dividend on an annualized basis and a yield of 5.81%. Karat Packaging’s dividend payout ratio is presently 120.00%.

Hedge Funds Weigh In On Karat Packaging

Several institutional investors have recently modified their holdings of KRT. GAMMA Investing LLC boosted its stake in Karat Packaging by 4,151.4% during the 1st quarter. GAMMA Investing LLC now owns 1,488 shares of the company’s stock worth $40,000 after acquiring an additional 1,453 shares during the last quarter. Deutsche Bank AG raised its holdings in 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 purchasing an additional 1,408 shares during the period. Copeland Capital Management LLC boosted its position in shares of Karat Packaging by 38.4% during the fourth quarter. Copeland Capital Management LLC now owns 2,604 shares of the company’s stock worth $79,000 after purchasing an additional 722 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of Karat Packaging by 40.8% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,180 shares of the company’s stock valued at $157,000 after buying an additional 1,500 shares during the period. Finally, Comerica Bank grew its holdings in shares of Karat Packaging by 107.8% in the 4th quarter. Comerica Bank now owns 5,262 shares of the company’s stock valued at $159,000 after buying an additional 2,730 shares during the period. 25.20% of the stock is currently owned by institutional investors and hedge funds.

About Karat Packaging

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.