Karat Packaging (NASDAQ:KRT) Rating Increased to Hold at Zacks Research

Karat Packaging (NASDAQ:KRT) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

KRT has been the topic of a number of other research reports. Wall Street Zen lowered Karat Packaging from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings downgraded Karat Packaging from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. Finally, Bank of America lowered Karat Packaging from a “buy” rating to an “underperform” rating and decreased their target price for the stock from $27.00 to $22.00 in a research note on Monday, November 17th. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $26.50.

Karat Packaging Trading Up 2.5%

NASDAQ KRT opened at $23.39 on Monday. The firm’s 50-day moving average is $22.61 and its two-hundred day moving average is $24.80. Karat Packaging has a 12 month low of $20.61 and a 12 month high of $33.89. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.14 and a quick ratio of 1.09. The stock has a market capitalization of $470.14 million, a P/E ratio of 15.59, a PEG ratio of 1.58 and a beta of 1.09.

Karat Packaging (NASDAQ:KRT) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.37 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.37. Karat Packaging had a net margin of 6.67% and a return on equity of 18.98%. The business had revenue of $124.52 million during the quarter, compared to analysts’ expectations of $124.09 million. On average, sell-side analysts anticipate that Karat Packaging will post 1.66 earnings per share for the current year.

Institutional Trading of Karat Packaging

Large investors have recently made changes to their positions in the company. State of Alaska Department of Revenue purchased a new position in Karat Packaging in the third quarter worth approximately $27,000. CWM LLC raised its holdings in shares of Karat Packaging by 378.4% in the 3rd quarter. CWM LLC now owns 1,641 shares of the company’s stock valued at $41,000 after purchasing an additional 1,298 shares in the last quarter. Copeland Capital Management LLC lifted its position in shares of Karat Packaging by 58.3% during the 2nd quarter. Copeland Capital Management LLC now owns 2,083 shares of the company’s stock worth $59,000 after purchasing an additional 767 shares during the last quarter. Quarry LP purchased a new stake in shares of Karat Packaging during the 3rd quarter worth $70,000. Finally, Jane Street Group LLC acquired a new position in shares of Karat Packaging during the first quarter worth $219,000. 25.20% of the stock is currently owned by hedge funds and other institutional investors.

Karat Packaging Company Profile

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.