Karat Packaging Inc. (NASDAQ:KRT – Get Free Report) was the recipient of a large growth in short interest in March. As of March 31st, there was short interest totalling 116,000 shares, a growth of 13.0% from the March 15th total of 102,700 shares. Based on an average daily trading volume, of 50,400 shares, the short-interest ratio is presently 2.3 days. Currently, 1.7% of the shares of the stock are sold short.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on KRT. Stifel Nicolaus reiterated a “buy” rating and issued a $32.00 target price (up previously from $30.00) on shares of Karat Packaging in a research report on Friday, March 15th. Truist Financial increased their target price on shares of Karat Packaging from $24.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, March 15th.
Check Out Our Latest Analysis on KRT
Hedge Funds Weigh In On Karat Packaging
Karat Packaging Stock Performance
NASDAQ:KRT opened at $27.27 on Tuesday. Karat Packaging has a twelve month low of $13.01 and a twelve month high of $30.94. The company has a current ratio of 3.49, a quick ratio of 1.88 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average of $28.06 and a 200-day moving average of $24.51. The firm has a market cap of $544.58 million, a price-to-earnings ratio of 16.83 and a beta of 1.05.
Karat Packaging (NASDAQ:KRT – Get Free Report) last posted its quarterly earnings data on Thursday, March 14th. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.16). Karat Packaging had a net margin of 8.00% and a return on equity of 22.54%. The business had revenue of $95.58 million for the quarter, compared to the consensus estimate of $95.51 million. Analysts forecast that Karat Packaging will post 1.92 earnings per share for the current fiscal year.
Karat Packaging Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Wednesday, February 21st were given a dividend of $0.30 per share. This is a positive change from Karat Packaging’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Tuesday, February 20th. This represents a $1.20 annualized dividend and a dividend yield of 4.40%. Karat Packaging’s dividend payout ratio (DPR) is 74.07%.
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.
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