Karat Packaging Inc. (NASDAQ:KRT) Given Consensus Recommendation of “Hold” by Brokerages

Karat Packaging Inc. (NASDAQ:KRT) has received an average recommendation of “Hold” from the six research firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $31.50.

A number of equities analysts have weighed in on KRT shares. The Goldman Sachs Group cut shares of Karat Packaging to a “neutral” rating in a research report on Thursday, June 4th. Bank of America set a $24.00 price objective on shares of Karat Packaging and gave the stock an “underperform” rating in a research report on Friday, March 13th. Wall Street Zen upgraded shares of Karat Packaging from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Zacks Research cut shares of Karat Packaging from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 12th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Karat Packaging in a research report on Thursday, June 11th.

Karat Packaging Stock Performance

NASDAQ:KRT opened at $31.74 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.15 and a current ratio of 2.29. The company has a fifty day moving average of $28.58 and a two-hundred day moving average of $26.34. The stock has a market capitalization of $633.43 million, a PE ratio of 20.09, a P/E/G ratio of 1.58 and a beta of 0.90. Karat Packaging has a fifty-two week low of $20.61 and a fifty-two week high of $31.85.

Karat Packaging (NASDAQ:KRT) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. The company had revenue of $116.95 million during the quarter, compared to analysts’ expectations of $112.98 million. Karat Packaging had a net margin of 6.61% and a return on equity of 19.87%. As a group, research analysts forecast that Karat Packaging will post 1.78 earnings per share for the current fiscal year.

Karat Packaging Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Thursday, May 21st were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date was Thursday, May 21st. Karat Packaging’s dividend payout ratio is 113.92%.

Institutional Investors Weigh In On Karat Packaging

Hedge funds have recently modified their holdings of the business. Clearstead Advisors LLC raised its position 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 buying an additional 976 shares during the last quarter. CWM LLC raised its position in shares of Karat Packaging by 61.5% in the fourth quarter. CWM LLC now owns 2,651 shares of the company’s stock valued at $60,000 after buying an additional 1,010 shares during the last quarter. Quarry LP acquired a new stake in shares of Karat Packaging in the third quarter valued at about $70,000. Deutsche Bank AG raised its position in shares of Karat Packaging by 142.8% in the fourth quarter. Deutsche Bank AG now owns 3,861 shares of the company’s stock valued at $87,000 after buying an additional 2,271 shares during the last quarter. Finally, State of Wyoming acquired a new stake in shares of Karat Packaging in the fourth quarter valued at about $122,000. 25.20% of the stock is currently owned by institutional investors and hedge funds.

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.