Karat Packaging (NASDAQ:KRT) Raised to Strong-Buy at Wall Street Zen

Karat Packaging (NASDAQ:KRT) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Sunday.

Several other analysts also recently commented on the stock. Bank of America set a $24.00 price target on shares of Karat Packaging and gave the company an “underperform” rating in a research report on Friday, March 13th. Weiss Ratings reissued a “hold (c+)” rating on shares of Karat Packaging in a research report on Thursday, January 22nd. Finally, Zacks Research raised shares of Karat Packaging from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $27.50.

Karat Packaging Trading Down 2.0%

NASDAQ:KRT opened at $26.91 on Friday. The company has a market capitalization of $537.12 million, a PE ratio of 17.25, a P/E/G ratio of 1.30 and a beta of 1.09. Karat Packaging has a 52-week low of $20.61 and a 52-week high of $32.68. The stock’s 50 day moving average price is $25.04 and its 200 day moving average price is $24.02. The company has a quick ratio of 1.09, a current ratio of 2.30 and a debt-to-equity ratio of 0.15.

Karat Packaging (NASDAQ:KRT) last issued its quarterly earnings data on Thursday, March 12th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.06. The company had revenue of $115.62 million during the quarter, compared to analysts’ expectations of $113.95 million. Karat Packaging had a return on equity of 19.63% and a net margin of 6.73%. On average, research analysts anticipate that Karat Packaging will post 1.66 EPS for the current year.

Hedge Funds Weigh In On Karat Packaging

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. State of Alaska Department of Revenue acquired a new position in Karat Packaging in the 3rd quarter valued at $27,000. Clearstead Advisors LLC boosted its holdings in shares of 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 acquiring an additional 976 shares in the last quarter. CWM LLC boosted its holdings in shares of Karat Packaging by 378.4% in the third quarter. CWM LLC now owns 1,641 shares of the company’s stock valued at $41,000 after acquiring an additional 1,298 shares in the last quarter. Quarry LP acquired a new position in shares of Karat Packaging during the third quarter worth about $70,000. Finally, Deutsche Bank AG increased its stake in shares of Karat Packaging by 142.8% during the fourth quarter. Deutsche Bank AG now owns 3,861 shares of the company’s stock worth $87,000 after acquiring an additional 2,271 shares during the period. 25.20% of the stock is currently owned by hedge funds and other institutional investors.

About Karat Packaging

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.