Karat Packaging (NASDAQ:KRT) Hits New 1-Year High – Time to Buy?

Karat Packaging Inc. (NASDAQ:KRT)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $34.90 and last traded at $34.79, with a volume of 132238 shares changing hands. The stock had previously closed at $34.25.

Wall Street Analyst Weigh In

A number of analysts have issued reports on KRT shares. Bank of America set a $24.00 price target on Karat Packaging and gave the stock an “underperform” rating in a research note on Friday, March 13th. The Goldman Sachs Group lowered shares of Karat Packaging to a “neutral” rating in a report on Thursday, June 4th. Wall Street Zen cut shares of Karat Packaging from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings restated a “hold (c+)” rating on shares of Karat Packaging in a report on Thursday, June 11th. Finally, Zacks Research downgraded shares of Karat Packaging from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 12th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $31.50.

Karat Packaging Stock Up 1.6%

The firm has a market capitalization of $694.41 million, a PE ratio of 22.02, a price-to-earnings-growth ratio of 1.70 and a beta of 0.85. 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 firm has a 50-day moving average of $29.16 and a two-hundred day moving average of $26.84.

Karat Packaging (NASDAQ:KRT) last posted 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 firm had revenue of $116.95 million during the quarter, compared to the consensus estimate of $112.98 million. Karat Packaging had a return on equity of 19.87% and a net margin of 6.61%. On average, equities research analysts forecast that Karat Packaging Inc. will post 1.78 EPS for the current year.

Karat Packaging Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Thursday, May 21st were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend was Thursday, May 21st. Karat Packaging’s payout ratio is currently 113.92%.

Institutional Trading of Karat Packaging

A number of institutional investors and hedge funds have recently bought and sold shares of KRT. Clearstead Advisors LLC raised its holdings 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 period. CWM LLC raised 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 acquiring an additional 1,010 shares during the period. Quarry LP acquired a new position in shares of Karat Packaging during the 3rd quarter valued at $70,000. Deutsche Bank AG lifted its holdings in shares of Karat Packaging by 142.8% during the 4th 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 in the last quarter. Finally, State of Wyoming purchased a new stake in Karat Packaging during the 4th quarter worth $122,000. Institutional investors and hedge funds own 25.20% of the company’s stock.

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.