Karat Packaging (KRT) Scheduled to Post Quarterly Earnings on Thursday

Karat Packaging (NASDAQ:KRTGet Rating) is scheduled to be releasing its earnings data after the market closes on Thursday, May 12th. Analysts expect Karat Packaging to post earnings of $0.27 per share for the quarter. Karat Packaging has set its FY 2022 guidance at EPS and its Q1 2022 guidance at EPS.Persons that wish to register for the company’s earnings conference call can do so using this link.

Karat Packaging (NASDAQ:KRTGet Rating) last posted its quarterly earnings results on Wednesday, March 23rd. The company reported $0.28 EPS for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.01). Karat Packaging had a return on equity of 19.79% and a net margin of 5.70%. The business had revenue of $91.33 million during the quarter, compared to analysts’ expectations of $96.03 million. On average, analysts expect Karat Packaging to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

NASDAQ KRT opened at $18.58 on Thursday. The business has a 50 day simple moving average of $17.75. The company has a current ratio of 3.34, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. Karat Packaging has a 12 month low of $14.70 and a 12 month high of $25.91. The stock has a market cap of $368.05 million and a PE ratio of 17.05.

Separately, Truist Financial upped their price objective on Karat Packaging from $29.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, March 24th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $26.20.

Institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Karat Packaging by 1.2% during the 4th quarter. BlackRock Inc. now owns 321,509 shares of the company’s stock valued at $6,498,000 after purchasing an additional 3,691 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Karat Packaging by 262.9% during the 4th quarter. Wells Fargo & Company MN now owns 3,629 shares of the company’s stock valued at $73,000 after purchasing an additional 2,629 shares during the last quarter. Sei Investments Co. increased its position in shares of Karat Packaging by 25.4% during the 4th quarter. Sei Investments Co. now owns 37,573 shares of the company’s stock valued at $759,000 after purchasing an additional 7,609 shares during the last quarter. State Street Corp increased its position in shares of Karat Packaging by 7.7% during the 4th quarter. State Street Corp now owns 63,822 shares of the company’s stock valued at $1,290,000 after purchasing an additional 4,553 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Karat Packaging by 127.4% during the 4th quarter. JPMorgan Chase & Co. now owns 6,456 shares of the company’s stock valued at $131,000 after purchasing an additional 3,617 shares during the last quarter. 19.69% of the stock is currently owned by institutional investors and hedge funds.

Karat Packaging Company Profile (Get Rating)

Karat Packaging Inc manufactures and distributes 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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