Shares of Karat Packaging Inc. (NASDAQ:KRT – Get Free Report) have earned a consensus rating of “Hold” from the four brokerages that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $31.50.
KRT has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Karat Packaging in a research note on Thursday, January 22nd. Bank of America set a $24.00 target price on shares of Karat Packaging and gave the stock an “underperform” rating in a research note on Friday, March 13th. Lake Street Capital reaffirmed a “buy” rating and issued a $39.00 target price on shares of Karat Packaging in a research note on Friday, May 8th. Wall Street Zen downgraded shares of Karat Packaging from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Zacks Research downgraded shares of Karat Packaging from a “strong-buy” rating to a “hold” rating in a research note on Tuesday.
Get Our Latest Stock Analysis on KRT
Karat Packaging Trading Down 3.6%
Karat Packaging (NASDAQ:KRT – Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates 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%. Sell-side analysts forecast that Karat Packaging will post 1.98 earnings per share for the current fiscal year.
Karat Packaging Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 28th. Stockholders of record on Thursday, May 21st will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date is Thursday, May 21st. Karat Packaging’s payout ratio is 113.92%.
Hedge Funds Weigh In On Karat Packaging
Hedge funds have recently bought and sold shares of the company. CWA Asset Management Group LLC bought a new position in Karat Packaging in the 4th quarter worth about $2,398,000. Harel Insurance Investments & Financial Services Ltd. lifted its stake in Karat Packaging by 130.2% during the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 57,552 shares of the company’s stock valued at $1,447,000 after acquiring an additional 32,552 shares during the period. Polar Asset Management Partners Inc. bought a new position in Karat Packaging during the 3rd quarter valued at about $5,039,000. North Star Investment Management Corp. bought a new position in Karat Packaging during the 4th quarter valued at about $1,377,000. Finally, KTF Investments LLC bought a new position in Karat Packaging during the 4th quarter valued at about $5,075,000. Institutional investors 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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