Karat Packaging (NASDAQ:KRT) Upgraded at Wall Street Zen

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

Separately, Truist Financial lifted their target price on 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 Performance

Shares of Karat Packaging stock opened at $26.44 on Friday. The firm has a market cap of $530.39 million, a P/E ratio of 18.89 and a beta of 1.19. The company has a current ratio of 3.12, a quick ratio of 1.82 and a debt-to-equity ratio of 0.29. Karat Packaging has a 12 month low of $23.00 and a 12 month high of $33.89. The stock’s fifty day moving average price is $28.12 and its 200-day moving average price is $29.25.

Karat Packaging (NASDAQ:KRT) last announced its quarterly earnings results on Thursday, March 13th. The company reported $0.29 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 analysts’ expectations of $102.27 million. Karat Packaging had a net margin of 6.78% and a return on equity of 19.84%. On average, equities research analysts expect that Karat Packaging will post 1.66 earnings per share for the current fiscal year.

Insider Buying and Selling at Karat Packaging

In other news, CEO Alan Yu sold 750,000 shares of the business’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $27.00, for a total transaction of $20,250,000.00. Following the sale, the chief executive officer now owns 6,203,805 shares in the company, valued at approximately $167,502,735. The trade was a 10.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 66.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Karat Packaging

A number of large investors have recently modified their holdings of KRT. American Century Companies Inc. grew its stake in shares of Karat Packaging by 3.4% during the fourth quarter. American Century Companies Inc. now owns 187,549 shares of the company’s stock worth $5,675,000 after acquiring an additional 6,224 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Karat Packaging by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 182,271 shares of the company’s stock worth $5,517,000 after acquiring an additional 3,626 shares during the last quarter. Trexquant Investment LP purchased a new stake in shares of Karat Packaging during the fourth quarter worth about $352,000. Wells Fargo & Company MN grew its stake in shares of Karat Packaging by 20.8% during the fourth quarter. Wells Fargo & Company MN now owns 5,538 shares of the company’s stock worth $168,000 after acquiring an additional 955 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of Karat Packaging by 28.0% during the fourth quarter. Russell Investments Group Ltd. now owns 79,645 shares of the company’s stock worth $2,410,000 after acquiring an additional 17,419 shares during the last quarter. Hedge funds and other institutional investors own 25.20% of the company’s stock.

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.