Karat Packaging (NASDAQ:KRT) Price Target Raised to $36.00 at Stifel Nicolaus

Karat Packaging (NASDAQ:KRT) had its price target increased by analysts at Stifel Nicolaus from $32.00 to $36.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price target would indicate a potential upside of 12.08% from the stock’s previous close.

Karat Packaging Stock Up 1.3 %

Shares of KRT traded up $0.42 during mid-day trading on Wednesday, reaching $32.12. The company had a trading volume of 4,244 shares, compared to its average volume of 42,462. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.82 and a current ratio of 3.12. The firm has a 50-day moving average price of $28.48 and a 200 day moving average price of $27.67. Karat Packaging has a 52 week low of $21.56 and a 52 week high of $32.12. The company has a market capitalization of $643.17 million, a price-to-earnings ratio of 22.79 and a beta of 1.08.

Hedge Funds Weigh In On Karat Packaging

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC lifted its position in Karat Packaging by 8.2% in the 2nd quarter. Acadian Asset Management LLC now owns 283,278 shares of the company’s stock valued at $8,375,000 after acquiring an additional 21,383 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in Karat Packaging in the 2nd quarter valued at approximately $1,162,000. Janney Montgomery Scott LLC lifted its position in Karat Packaging by 4.2% in the 3rd quarter. Janney Montgomery Scott LLC now owns 28,488 shares of the company’s stock valued at $738,000 after acquiring an additional 1,148 shares in the last quarter. US Bancorp DE purchased a new stake in Karat Packaging during the 3rd quarter valued at $30,000. Finally, Gladius Capital Management LP purchased a new stake in Karat Packaging during the 2nd quarter valued at $33,000. 25.20% of the stock is owned by institutional investors.

Karat Packaging Company Profile

Karat Packaging Inc, together with its subsidiaries, engages in the manufacture and distribution of single-use disposable products in plastic, paper, biopolymer-based, and other compostable forms used in various restaurant and foodservice settings. It provides food and take-out containers, bags, tableware, cups, lids, cutlery, straws, specialty beverage ingredients, equipment, gloves, and other products under the Karat Earth brand.