Karat Packaging (NASDAQ:KRT) Rating Lowered to “Hold” at Wall Street Zen

Karat Packaging (NASDAQ:KRT) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

KRT has been the subject of several other research reports. Zacks Research cut shares of Karat Packaging from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 12th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Karat Packaging in a report on Thursday, June 11th. The Goldman Sachs Group lowered shares of Karat Packaging to a “neutral” rating in a research note on Thursday, June 4th. Lake Street Capital restated a “buy” rating and issued a $39.00 target price on shares of Karat Packaging in a research note on Friday, May 8th. Finally, Bank of America lifted their price target on shares of Karat Packaging from $23.00 to $34.00 and gave the stock an “underperform” rating in a report on Tuesday, July 14th. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $36.50.

Karat Packaging Price Performance

Shares of KRT stock opened at $39.52 on Friday. Karat Packaging has a twelve month low of $20.61 and a twelve month high of $39.56. The company has a current ratio of 2.29, a quick ratio of 1.15 and a debt-to-equity ratio of 0.15. The stock has a fifty day simple moving average of $31.46 and a two-hundred day simple moving average of $28.15. The stock has a market capitalization of $788.82 million, a price-to-earnings ratio of 25.01, a P/E/G ratio of 1.68 and a beta of 0.85.

Karat Packaging (NASDAQ:KRT) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.32 by $0.02. Karat Packaging had a return on equity of 19.87% and a net margin of 6.61%.The firm had revenue of $116.95 million for the quarter, compared to analyst estimates of $112.98 million. On average, analysts predict that Karat Packaging will post 1.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Clearstead Advisors LLC boosted its position in 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 stake in shares of Karat Packaging by 61.5% during the 4th 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 purchased a new stake in shares of Karat Packaging in the third quarter worth about $70,000. Deutsche Bank AG lifted its holdings in 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 acquiring an additional 2,271 shares during the period. Finally, State of Wyoming acquired a new stake in shares of Karat Packaging during the 4th quarter worth approximately $122,000. 25.20% of the stock is 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.