Karat Packaging (NASDAQ:KRT – Get Free Report) was downgraded by equities researchers at Truist Financial from a “buy” rating to a “hold” rating in a report released on Friday, MarketBeat reports. They currently have a $28.00 price target on the stock, down from their prior price target of $34.00. Truist Financial’s price target suggests a potential upside of 17.45% from the stock’s previous close.
Karat Packaging Stock Down 14.8 %
KRT stock traded down $4.15 during trading on Friday, hitting $23.84. 171,025 shares of the company’s stock traded hands, compared to its average volume of 45,100. The firm has a market capitalization of $476.20 million, a P/E ratio of 16.11 and a beta of 1.06. Karat Packaging has a 1 year low of $17.23 and a 1 year high of $30.94. The company has a quick ratio of 1.69, a current ratio of 3.33 and a debt-to-equity ratio of 0.30. The business has a fifty day simple moving average of $28.43 and a two-hundred day simple moving average of $27.92.
Karat Packaging (NASDAQ:KRT – Get Free Report) last posted its earnings results on Thursday, May 9th. The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.04). Karat Packaging had a net margin of 7.31% and a return on equity of 21.94%. The company had revenue of $95.61 million during the quarter, compared to analysts’ expectations of $99.76 million. During the same quarter last year, the firm earned $0.45 EPS. Sell-side analysts anticipate that Karat Packaging will post 1.95 EPS for the current year.
Hedge Funds Weigh In On Karat Packaging
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.
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