Karat Packaging (NASDAQ:KRT) Downgraded by William Blair to Market Perform

Karat Packaging (NASDAQ:KRT) was downgraded by analysts at William Blair from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports.

Separately, Stifel Nicolaus boosted their price target on shares of Karat Packaging from $32.00 to $36.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th.

Karat Packaging Stock Up 1.1 %

KRT stock opened at $30.26 on Thursday. Karat Packaging has a fifty-two week low of $22.51 and a fifty-two week high of $33.14. The company’s 50 day moving average price is $29.87 and its 200 day moving average price is $27.95. 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 firm has a market capitalization of $605.93 million, a price-to-earnings ratio of 21.61 and a beta of 1.08.

Hedge Funds Weigh In On Karat Packaging

Hedge funds and other institutional investors have recently bought and sold shares of the company. US Bancorp DE purchased a new stake in Karat Packaging during the 3rd quarter worth about $30,000. Copeland Capital Management LLC acquired a new position in shares of Karat Packaging in the third quarter valued at approximately $49,000. Nisa Investment Advisors LLC raised its position in shares of Karat Packaging by 497.7% in the third quarter. Nisa Investment Advisors LLC now owns 3,676 shares of the company’s stock valued at $95,000 after buying an additional 3,061 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Karat Packaging by 4.4% during the second quarter. Rhumbline Advisers now owns 9,203 shares of the company’s stock valued at $272,000 after buying an additional 387 shares during the period. Finally, Kings Path Partners LLC acquired a new stake in Karat Packaging during the third quarter worth approximately $401,000. 25.20% of the stock is owned by institutional investors and hedge funds.

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.