Lake Street analyst Ryan Meyers maintained a Buy rating on Karat Packaging Inc (KRT – Research Report) today and set a price target of $26.00. The company’s shares closed last Friday at $22.05.
Meyers covers the Consumer Cyclical sector, focusing on stocks such as Karat Packaging Inc, Xponential Fitness, and CarParts.com Inc. According to TipRanks, Meyers has an average return of -24.2% and a 25.00% success rate on recommended stocks.
Karat Packaging Inc has an analyst consensus of Strong Buy, with a price target consensus of $27.33.
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KRT market cap is currently $438.7M and has a P/E ratio of 14.59.
Based on the recent corporate insider activity of 20 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of KRT in relation to earlier this year. Most recently, in August 2023, Guo Jian, the CFO of KRT bought 3,000.00 shares for a total of $49,590.00.
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Karat Packaging Inc (KRT) Company Description:
Karat Packaging Inc is engaged in the manufacturing and distribution of disposable products used in restaurants and food service settings. It offers products for the foodservice industry, including food packaging, containers, tableware, cups, lids, cutlery, and straws. These products are available in plastic, paper, biopolymer-based and other compostable forms.
Read More on KRT:
- Karat Packaging Expands National Salesforce, Focusing on Greater Penetration in East Coast and Mid-West Regions
- Karat Packaging Inc. Announces Pricing of Secondary Offering of Common Stock
- Karat Packaging 1M share Spot Secondary priced at $21.00
- Karat Packaging Inc. Announces Proposed Secondary Offering of Common Stock
- Karat Packaging announces common stock offering for holders, no amount given
