Karat Packaging (NASDAQ:KRT) Stock Rating Lowered by William Blair

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

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

Karat Packaging Trading Up 1.1 %

Shares of KRT stock opened at $30.26 on Thursday. The firm’s 50-day simple moving average is $29.87 and its 200-day simple moving average is $27.95. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.12 and a quick ratio of 1.82. Karat Packaging has a 1-year low of $22.51 and a 1-year high of $33.14. The firm has a market cap of $605.93 million, a P/E ratio of 21.61 and a beta of 1.08.

Institutional Investors Weigh In On Karat Packaging

Several institutional investors have recently bought and sold shares of KRT. Acadian Asset Management LLC increased its stake in Karat Packaging by 8.2% during the 2nd quarter. Acadian Asset Management LLC now owns 283,278 shares of the company’s stock worth $8,375,000 after buying an additional 21,383 shares during the period. Geode Capital Management LLC increased its position in shares of Karat Packaging by 15.5% during the third quarter. Geode Capital Management LLC now owns 178,645 shares of the company’s stock worth $4,626,000 after acquiring an additional 24,020 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Karat Packaging by 2.7% during the second quarter. Bank of New York Mellon Corp now owns 170,310 shares of the company’s stock worth $5,038,000 after acquiring an additional 4,408 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Karat Packaging by 2.9% in the second quarter. Dimensional Fund Advisors LP now owns 121,473 shares of the company’s stock worth $3,592,000 after acquiring an additional 3,397 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in Karat Packaging by 37.8% in the second quarter. AQR Capital Management LLC now owns 116,980 shares of the company’s stock valued at $3,460,000 after purchasing an additional 32,069 shares during the last quarter. 25.20% of the stock is currently owned by hedge funds and other institutional investors.

About Karat Packaging

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.