Karat Packaging (NASDAQ:KRT) Raised to “Buy” at Wall Street Zen

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

A number of other brokerages also recently issued reports on KRT. William Blair upgraded shares of Karat Packaging from a “market perform” rating to an “outperform” rating in a report on Thursday, June 4th. Zacks Research downgraded shares of Karat Packaging from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 12th. The Goldman Sachs Group downgraded shares of Karat Packaging to a “neutral” rating in a report on Thursday, June 4th. Lake Street Capital reiterated a “buy” rating and issued a $39.00 price target on shares of Karat Packaging in a report on Friday, May 8th. Finally, Bank of America set a $24.00 price target on shares of Karat Packaging and gave the company an “underperform” rating in a report on Friday, March 13th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Karat Packaging has an average rating of “Hold” and a consensus price target of $31.50.

Karat Packaging Stock Up 0.8%

Shares of KRT stock opened at $30.06 on Friday. The company has a market capitalization of $600.00 million, a price-to-earnings ratio of 19.03, a PEG ratio of 1.48 and a beta of 0.90. Karat Packaging has a one year low of $20.61 and a one year high of $30.93. The company’s fifty day moving average price is $28.29 and its 200-day moving average price is $25.76. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.29 and a quick ratio of 1.15.

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

Institutional Investors Weigh In On Karat Packaging

Several institutional investors have recently modified their holdings of KRT. Clearstead Advisors LLC lifted its stake in shares of Karat Packaging by 188.8% in the 4th quarter. Clearstead Advisors LLC now owns 1,493 shares of the company’s stock valued at $34,000 after purchasing an additional 976 shares during the last quarter. CWM LLC lifted its stake in shares of Karat Packaging by 61.5% in the 4th quarter. CWM LLC now owns 2,651 shares of the company’s stock valued at $60,000 after purchasing an additional 1,010 shares during the last quarter. Quarry LP bought a new stake in shares of Karat Packaging in the 3rd quarter valued at approximately $70,000. Deutsche Bank AG lifted its stake in shares of Karat Packaging by 142.8% in the 4th quarter. Deutsche Bank AG now owns 3,861 shares of the company’s stock valued at $87,000 after purchasing an additional 2,271 shares during the last quarter. Finally, State of Wyoming bought a new stake in shares of Karat Packaging in the 4th quarter valued at approximately $122,000. 25.20% of the stock is owned by 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.