Karat Packaging (KRT) to Release Quarterly Earnings on Wednesday

Posted by on May 8th, 2023

Karat Packaging (NASDAQ:KRT – Get Rating) is scheduled to be posting its quarterly earnings results after the market closes on Wednesday, May 10th. Analysts expect Karat Packaging to post earnings of $0.28 per share for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

Karat Packaging Stock Performance

Shares of Karat Packaging stock opened at $14.26 on Monday. The company has a market cap of $283.63 million, a PE ratio of 11.88 and a beta of 0.90. Karat Packaging has a 52 week low of $12.50 and a 52 week high of $20.00. The business has a 50 day moving average price of $13.96 and a 200-day moving average price of $14.39. The company has a quick ratio of 1.34, a current ratio of 3.15 and a debt-to-equity ratio of 0.27.

Wall Street Analysts Forecast Growth

Separately, TheStreet raised Karat Packaging from a “d+” rating to a “c-” rating in a research note on Tuesday, May 2nd.

Institutional Trading of Karat Packaging

Several institutional investors and hedge funds have recently modified their holdings of KRT. Bank of New York Mellon Corp increased its position in shares of Karat Packaging by 6.3% during the first quarter. Bank of New York Mellon Corp now owns 23,696 shares of the company’s stock valued at $470,000 after acquiring an additional 1,411 shares during the last quarter. Blair William & Co. IL increased its position in shares of Karat Packaging by 11.1% during the first quarter. Blair William & Co. IL now owns 29,122 shares of the company’s stock valued at $578,000 after acquiring an additional 2,904 shares during the last quarter. Sei Investments Co. increased its position in shares of Karat Packaging by 23.6% during the first quarter. Sei Investments Co. now owns 46,430 shares of the company’s stock valued at $922,000 after acquiring an additional 8,857 shares during the last quarter. Wasatch Advisors Inc. increased its position in shares of Karat Packaging by 1.0% during the first quarter. Wasatch Advisors Inc. now owns 404,021 shares of the company’s stock valued at $8,020,000 after acquiring an additional 3,818 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. purchased a new stake in shares of Karat Packaging during the first quarter valued at approximately $215,000. 21.28% of the stock is owned by hedge funds and other institutional investors.

About Karat Packaging

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Karat Packaging Inc manufactures and distributes 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.

Further Reading

Earnings History for Karat Packaging (NASDAQ:KRT)

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