Karat Packaging (NASDAQ:KRT - Get Free Report) was downgraded by equities research analysts at William Blair from an "outperform" rating to a "market perform" rating in a research report issued on Thursday, Marketbeat.com reports.
Separately, Stifel Nicolaus lifted their price target on Karat Packaging from $32.00 to $36.00 and gave the stock a "buy" rating in a research note on Wednesday, December 11th.
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Karat Packaging Price Performance
Karat Packaging stock traded down $0.42 during midday trading on Thursday, hitting $29.84. 33,304 shares of the company's stock were exchanged, compared to its average volume of 42,534. The company has a market cap of $597.52 million, a P/E ratio of 21.31 and a beta of 1.08. 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 stock has a 50-day moving average price of $29.87 and a two-hundred day moving average price of $27.95. Karat Packaging has a 52-week low of $22.51 and a 52-week high of $33.14.
Hedge Funds Weigh In On Karat Packaging
A number of institutional investors have recently added to or reduced their stakes in KRT. US Bancorp DE purchased a new position in Karat Packaging during the third quarter valued at $30,000. Copeland Capital Management LLC purchased a new position in shares of Karat Packaging in the 3rd quarter worth about $49,000. Nisa Investment Advisors LLC boosted its stake in Karat Packaging by 497.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,676 shares of the company's stock worth $95,000 after purchasing an additional 3,061 shares in the last quarter. Rhumbline Advisers increased its stake in Karat Packaging by 4.4% during the 2nd quarter. Rhumbline Advisers now owns 9,203 shares of the company's stock valued at $272,000 after purchasing an additional 387 shares in the last quarter. Finally, Kings Path Partners LLC purchased a new position in Karat Packaging in the third quarter worth about $401,000. Institutional investors own 25.20% of the company's stock.
Karat Packaging Company Profile
(
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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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