Karat Packaging (NASDAQ:KRT) Stock Rating Upgraded by Wall Street Zen

Karat Packaging (NASDAQ:KRT) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Saturday.

Separately, Truist Financial raised their target price on shares of Karat Packaging from $28.00 to $31.00 and gave the company 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.

Institutional Trading of Karat Packaging

Institutional investors and hedge funds have recently modified their holdings of the stock. 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. boosted its position in shares of Karat Packaging by 40.8% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,180 shares of the company’s stock worth $157,000 after purchasing an additional 1,500 shares in the last quarter. 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 owned by institutional investors.

Karat Packaging Company Profile

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.