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

Karat Packaging Inc. (NASDAQ:KRT) has earned a consensus rating of “Hold” from the six analysts that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $31.50.

Several research firms have recently commented on KRT. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Karat Packaging in a report on Thursday, June 11th. William Blair raised shares of Karat Packaging from a “market perform” rating to an “outperform” rating in a report on Thursday, June 4th. The Goldman Sachs Group downgraded shares of Karat Packaging to a “neutral” rating in a report on Thursday, June 4th. Wall Street Zen raised shares of Karat Packaging from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Finally, Lake Street Capital reaffirmed a “buy” rating and issued a $39.00 price objective on shares of Karat Packaging in a report on Friday, May 8th.

Karat Packaging Stock Up 2.1%

KRT stock opened at $31.74 on Friday. The firm’s fifty day simple moving average is $28.58 and its 200-day simple moving average is $26.34. The company has a market capitalization of $633.43 million, a P/E ratio of 20.09, a price-to-earnings-growth ratio of 1.58 and a beta of 0.90. 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 has a 12 month low of $20.61 and a 12 month high of $31.85.

Karat Packaging (NASDAQ:KRT) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.32 by $0.02. The business 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%. As a group, equities research analysts forecast that Karat Packaging will post 1.78 earnings per share for the current year.

Karat Packaging Announces Dividend

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

Hedge Funds Weigh In On Karat Packaging

Several large investors have recently made changes to their positions in the company. Ranger Investment Management L.P. lifted its stake in shares of Karat Packaging by 8.1% in the 1st quarter. Ranger Investment Management L.P. now owns 325,104 shares of the company’s stock valued at $9,077,000 after purchasing an additional 24,405 shares during the period. Lazard Asset Management LLC lifted its stake in shares of Karat Packaging by 47.7% in the 1st quarter. Lazard Asset Management LLC now owns 27,678 shares of the company’s stock valued at $773,000 after purchasing an additional 8,941 shares during the period. Punch & Associates Investment Management Inc. lifted its stake in shares of Karat Packaging by 10.4% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 69,115 shares of the company’s stock valued at $1,930,000 after purchasing an additional 6,500 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in shares of Karat Packaging in the 1st quarter valued at $437,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Karat Packaging by 8.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 218,437 shares of the company’s stock valued at $6,098,000 after purchasing an additional 17,326 shares during the period. 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.