Karat Packaging (NASDAQ:KRT) Hits New 12-Month High – What’s Next?

Shares of Karat Packaging Inc. (NASDAQ:KRT) reached a new 52-week high during trading on Monday . The stock traded as high as $38.44 and last traded at $38.3750, with a volume of 189595 shares. The stock had previously closed at $38.09.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Karat Packaging in a report on Thursday, June 11th. Wall Street Zen upgraded shares of Karat Packaging from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. The Goldman Sachs Group downgraded shares of Karat Packaging to a “neutral” rating in a research report on Thursday, June 4th. Lake Street Capital restated a “buy” rating and set a $39.00 target price on shares of Karat Packaging in a report on Friday, May 8th. Finally, Bank of America boosted their price target on Karat Packaging from $23.00 to $34.00 and gave the stock an “underperform” rating in a research report on Tuesday, July 14th. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Karat Packaging currently has an average rating of “Hold” and an average target price of $36.50.

Karat Packaging Stock Performance

The company has a market cap of $767.66 million, a P/E ratio of 24.34, a price-to-earnings-growth ratio of 1.67 and a beta of 0.85. The company has a quick ratio of 1.15, a current ratio of 2.29 and a debt-to-equity ratio of 0.15. The stock’s 50-day moving average price is $30.73 and its 200 day moving average price is $27.84.

Karat Packaging (NASDAQ:KRT) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.02. The business had revenue of $116.95 million during 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, research analysts expect that Karat Packaging Inc. will post 1.78 EPS for the current fiscal year.

Karat Packaging Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Thursday, May 21st were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend was Thursday, May 21st. Karat Packaging’s dividend payout ratio (DPR) is currently 113.92%.

Hedge Funds Weigh In On Karat Packaging

Institutional investors have recently made changes to their positions in the business. Harel Insurance Investments & Financial Services Ltd. grew its holdings in Karat Packaging by 87.2% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 107,730 shares of the company’s stock valued at $2,431,000 after buying an additional 50,178 shares during the last quarter. North Star Investment Management Corp. acquired a new position in shares of Karat Packaging during the fourth quarter worth approximately $1,377,000. KTF Investments LLC bought a new stake in shares of Karat Packaging in the fourth quarter valued at approximately $5,075,000. CWM LLC boosted its position in shares of Karat Packaging by 61.5% in the fourth 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. Finally, Merit Financial Group LLC acquired a new stake in shares of Karat Packaging in the fourth quarter worth $376,000. 25.20% of the stock is currently owned by institutional investors.

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.