Karat Packaging Inc. (NASDAQ:KRT) Given Consensus Rating of “Hold” by Analysts

Karat Packaging Inc. (NASDAQ:KRT) has earned an average rating of “Hold” from the five brokerages that are presently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $31.6667.

A number of equities analysts have recently issued reports on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Karat Packaging in a report on Saturday, September 27th. Bank of America assumed coverage on Karat Packaging in a report on Wednesday, August 13th. They issued a “neutral” rating and a $28.00 price objective for the company. Finally, Wall Street Zen cut Karat Packaging from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 9th.

Karat Packaging Price Performance

Karat Packaging stock opened at $23.10 on Friday. Karat Packaging has a 52 week low of $23.00 and a 52 week high of $33.89. The business has a 50-day simple moving average of $25.14 and a 200 day simple moving average of $26.95. The company has a quick ratio of 1.40, a current ratio of 2.68 and a debt-to-equity ratio of 0.29. The stock has a market cap of $464.08 million, a price-to-earnings ratio of 14.53, a PEG ratio of 1.24 and a beta of 1.09.

Karat Packaging Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 27th. Stockholders of record on Wednesday, August 20th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.8%. The ex-dividend date was Wednesday, August 20th. Karat Packaging’s dividend payout ratio is presently 113.21%.

Institutional Investors Weigh In On Karat Packaging

Several institutional investors have recently bought and sold shares of the stock. Wasatch Advisors LP boosted its holdings in Karat Packaging by 3.3% during the 2nd quarter. Wasatch Advisors LP now owns 330,961 shares of the company’s stock valued at $9,320,000 after acquiring an additional 10,617 shares during the period. Ranger Investment Management L.P. boosted its holdings in Karat Packaging by 105.7% during the 2nd quarter. Ranger Investment Management L.P. now owns 320,556 shares of the company’s stock valued at $9,027,000 after acquiring an additional 164,716 shares during the period. Acadian Asset Management LLC boosted its holdings in Karat Packaging by 13.7% during the 2nd quarter. Acadian Asset Management LLC now owns 279,361 shares of the company’s stock valued at $7,863,000 after acquiring an additional 33,627 shares during the period. De Lisle Partners LLP boosted its holdings in Karat Packaging by 53.6% during the 2nd quarter. De Lisle Partners LLP now owns 229,143 shares of the company’s stock valued at $6,444,000 after acquiring an additional 80,000 shares during the period. Finally, American Century Companies Inc. boosted its holdings in Karat Packaging by 7.9% during the 2nd quarter. American Century Companies Inc. now owns 229,038 shares of the company’s stock valued at $6,450,000 after acquiring an additional 16,698 shares during the period. 25.20% of the stock is currently owned by hedge funds and other 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.