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

Karat Packaging (NASDAQ:KRT) had its price target hoisted by equities research analysts at Stifel Nicolaus from $32.00 to $36.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price target points to a potential upside of 12.08% from the company’s current price.

Karat Packaging Stock Performance

KRT stock traded up $0.42 during midday trading on Wednesday, reaching $32.12. 4,244 shares of the company’s stock traded hands, compared to its average volume of 42,462. Karat Packaging has a 52-week low of $21.56 and a 52-week high of $32.12. The stock’s 50-day moving average is $28.48 and its 200 day moving average is $27.67. The stock has a market cap of $643.17 million, a P/E ratio of 22.79 and a beta of 1.08. The company has a current ratio of 3.12, a quick ratio of 1.82 and a debt-to-equity ratio of 0.29.

Institutional Investors Weigh In On Karat Packaging

Institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC grew its stake in Karat Packaging by 15.5% during the third quarter. Geode Capital Management LLC now owns 178,645 shares of the company’s stock valued at $4,626,000 after acquiring an additional 24,020 shares in the last quarter. Barclays PLC grew its position in shares of Karat Packaging by 12.5% during the third quarter. Barclays PLC now owns 71,153 shares of the company’s stock valued at $1,843,000 after purchasing an additional 7,911 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Karat Packaging by 52.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 54,333 shares of the company’s stock worth $1,407,000 after purchasing an additional 18,612 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Karat Packaging by 7.1% in the third quarter. Janus Henderson Group PLC now owns 26,567 shares of the company’s stock worth $688,000 after buying an additional 1,760 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Karat Packaging by 5.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 19,720 shares of the company’s stock valued at $511,000 after buying an additional 1,053 shares during the last quarter. Institutional investors own 25.20% of the company’s stock.

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.