Karat Packaging (NASDAQ:KRT) Price Target Raised to $30.00 at Stifel Nicolaus

Karat Packaging (NASDAQ:KRT) had its price objective raised by Stifel Nicolaus from $24.00 to $30.00 in a research note issued to investors on Wednesday morning, Marketbeat.com reports. They currently have a buy rating on the stock.

Other research analysts have also issued research reports about the company. Truist Financial boosted their target price on Karat Packaging from $25.00 to $26.00 in a report on Friday, August 11th. Lake Street Capital increased their price target on shares of Karat Packaging from $22.00 to $26.00 and gave the company a buy rating in a research report on Thursday, August 10th.

Karat Packaging Trading Up 0.9 %

Shares of KRT stock opened at $25.46 on Wednesday. The company’s 50-day moving average price is $20.98 and its 200-day moving average price is $17.12. The company has a current ratio of 3.17, a quick ratio of 1.67 and a debt-to-equity ratio of 0.30. The stock has a market cap of $506.40 million, a price-to-earnings ratio of 16.75 and a beta of 0.93. Karat Packaging has a twelve month low of $12.50 and a twelve month high of $26.69.

Karat Packaging (NASDAQ:KRT) last released its quarterly earnings data on Wednesday, August 9th. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.37. Karat Packaging had a return on equity of 21.83% and a net margin of 7.40%. The firm had revenue of $108.74 million for the quarter, compared to analysts’ expectations of $109.22 million. As a group, equities analysts predict that Karat Packaging will post 1.94 earnings per share for the current year.

Karat Packaging Announces Dividend

The business also recently announced a None dividend, which was paid on Thursday, August 31st. Stockholders of record on Wednesday, August 23rd were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, August 22nd. Karat Packaging’s dividend payout ratio (DPR) is currently 26.32%.

Institutional Investors Weigh In On Karat Packaging

Large investors have recently added to or reduced their stakes in the company. Citigroup Inc. boosted its holdings in shares of Karat Packaging by 6,881.5% in the 2nd quarter. Citigroup Inc. now owns 1,885 shares of the company’s stock valued at $34,000 after buying an additional 1,858 shares during the period. Strs Ohio boosted its position in Karat Packaging by 145.5% during the 2nd quarter. Strs Ohio now owns 2,700 shares of the company’s stock worth $49,000 after acquiring an additional 1,600 shares during the period. Bank of America Corp DE grew its stake in shares of Karat Packaging by 195.8% in the fourth quarter. Bank of America Corp DE now owns 2,763 shares of the company’s stock worth $40,000 after purchasing an additional 1,829 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Karat Packaging by 61.4% during the second quarter. Wells Fargo & Company MN now owns 3,381 shares of the company’s stock valued at $62,000 after purchasing an additional 1,286 shares during the period. Finally, Deutsche Bank AG increased its stake in shares of Karat Packaging by 90.4% during the first quarter. Deutsche Bank AG now owns 3,822 shares of the company’s stock valued at $51,000 after acquiring an additional 1,815 shares during the period. 21.11% of the stock is owned by institutional investors and hedge funds.

Karat Packaging Company Profile

Karat Packaging Inc, together with its subsidiaries, 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.