Wall Street Zen cut shares of Karat Packaging (NASDAQ:KRT – Free Report) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.
Other equities analysts have also recently issued reports about the stock. William Blair upgraded shares of Karat Packaging from a “market perform” rating to an “outperform” rating in a research report on Thursday, June 4th. 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. Lake Street Capital restated a “buy” rating and issued a $39.00 price objective on shares of Karat Packaging in a report on Friday, May 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Karat Packaging in a report on Thursday, June 11th. Finally, The Goldman Sachs Group lowered Karat Packaging to a “neutral” rating in a research report on Thursday, June 4th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Karat Packaging has an average rating of “Hold” and a consensus price target of $36.50.
Get Our Latest Stock Analysis on Karat Packaging
Karat Packaging Stock Up 2.0%
Karat Packaging (NASDAQ:KRT – Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. Karat Packaging had a return on equity of 19.87% and a net margin of 6.61%.The business had revenue of $116.95 million during the quarter, compared to analysts’ expectations of $112.98 million. On average, equities analysts predict that Karat Packaging will post 1.78 EPS for the current fiscal year.
Karat Packaging Dividend Announcement
The firm 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 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend was Thursday, May 21st. Karat Packaging’s payout ratio is currently 113.92%.
Institutional Investors Weigh In On Karat Packaging
Several large investors have recently added to or reduced their stakes in KRT. Stifel Financial Corp raised its holdings in Karat Packaging by 1.8% during the fourth quarter. Stifel Financial Corp now owns 22,798 shares of the company’s stock worth $515,000 after buying an additional 398 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Karat Packaging by 1.9% during the fourth quarter. First Trust Advisors LP now owns 27,345 shares of the company’s stock valued at $617,000 after buying an additional 508 shares during the last quarter. Lazard Asset Management LLC increased its position in shares of Karat Packaging by 1.9% during the second quarter. Lazard Asset Management LLC now owns 40,390 shares of the company’s stock worth $1,137,000 after acquiring an additional 770 shares in the last quarter. Clearstead Advisors LLC raised its holdings 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 worth $34,000 after acquiring an additional 976 shares during the last quarter. Finally, CWM LLC boosted its stake in 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 purchasing an additional 1,010 shares during the last quarter. Institutional investors and hedge funds own 25.20% of the company’s stock.
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.
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