Karat Packaging Inc. (NASDAQ:KRT) Receives $36.50 Consensus PT from Analysts

Karat Packaging Inc. (NASDAQ:KRT) has been given a consensus recommendation of “Hold” by the six ratings firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $36.50.

A number of research analysts have recently weighed in on KRT shares. Wall Street Zen upgraded Karat Packaging from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Zacks Research lowered Karat Packaging from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 12th. The Goldman Sachs Group downgraded Karat Packaging to a “neutral” rating in a report on Thursday, June 4th. Lake Street Capital reissued a “buy” rating and issued a $39.00 price target on shares of Karat Packaging in a research report on Friday, May 8th. Finally, Bank of America boosted their price objective on shares of Karat Packaging from $23.00 to $34.00 and gave the company an “underperform” rating in a research report on Tuesday, July 14th.

Karat Packaging Stock Performance

NASDAQ KRT opened at $48.05 on Monday. Karat Packaging has a twelve month low of $20.61 and a twelve month high of $50.81. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.25 and a current ratio of 2.25. The stock has a market cap of $957.64 million, a price-to-earnings ratio of 19.22, a PEG ratio of 1.41 and a beta of 0.82. The firm’s 50 day moving average price is $38.33 and its two-hundred day moving average price is $31.08.

Karat Packaging (NASDAQ:KRT) last released its earnings results on Thursday, August 6th. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $1.01. The company had revenue of $136.30 million during the quarter, compared to analyst estimates of $135.46 million. Karat Packaging had a return on equity of 30.62% and a net margin of 10.18%. Equities analysts anticipate that Karat Packaging will post 2.63 EPS for the current year.

Karat Packaging Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 21st will be issued a dividend of $0.47 per share. The ex-dividend date is Friday, August 21st. This represents a $1.88 annualized dividend and a dividend yield of 3.9%. This is an increase from Karat Packaging’s previous quarterly dividend of $0.45. Karat Packaging’s dividend payout ratio is presently 75.20%.

Institutional Trading of Karat Packaging

Several hedge funds and other institutional investors have recently modified their holdings of KRT. Clearstead Advisors LLC grew its stake in Karat Packaging by 188.8% in 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. Legal & General Group Plc acquired a new position in Karat Packaging in the 2nd quarter worth about $75,000. CWM LLC raised its stake in shares of 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 purchasing an additional 1,010 shares in the last quarter. Quarry LP purchased a new stake in shares of Karat Packaging during the 3rd quarter worth about $70,000. Finally, Deutsche Bank AG lifted its holdings in shares of Karat Packaging by 142.8% during the 4th 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 during the last quarter. 25.20% of the stock is currently owned by hedge funds and other institutional investors.

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.