Karat Packaging (KRT) Set to Announce Quarterly Earnings on Thursday

Karat Packaging (NASDAQ:KRTGet Rating) will issue its quarterly earnings data after the market closes on Thursday, August 11th. Analysts expect the company to announce earnings of $0.37 per share for the quarter. Karat Packaging has set its FY 2022 guidance at EPS and its Q2 2022 guidance at EPS.Parties interested in registering for the company’s conference call can do so using this link.

Karat Packaging (NASDAQ:KRTGet Rating) last released its earnings results on Thursday, May 12th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.27 by $0.07. The firm had revenue of $105.41 million during the quarter, compared to analysts’ expectations of $101.43 million. Karat Packaging had a net margin of 6.51% and a return on equity of 19.84%. On average, analysts expect Karat Packaging to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Karat Packaging Price Performance

NASDAQ:KRT opened at $18.21 on Thursday. The stock has a market cap of $360.72 million, a P/E ratio of 14.11 and a beta of 1.51. Karat Packaging has a one year low of $14.70 and a one year high of $25.89. The company has a fifty day moving average price of $18.55 and a 200 day moving average price of $17.97. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.35 and a quick ratio of 1.41.

Insider Activity

In other news, Director Eve Yen sold 4,000 shares of the company’s stock in a transaction dated Wednesday, May 18th. The shares were sold at an average price of $19.85, for a total value of $79,400.00. Following the sale, the director now owns 1,000 shares of the company’s stock, valued at approximately $19,850. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Institutional Investors Weigh In On Karat Packaging

Hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its stake in shares of Karat Packaging by 6.3% in the 1st quarter. Bank of New York Mellon Corp now owns 23,696 shares of the company’s stock valued at $470,000 after purchasing an additional 1,411 shares during the last quarter. Blair William & Co. IL boosted its stake in shares of Karat Packaging by 11.1% in the 1st quarter. Blair William & Co. IL now owns 29,122 shares of the company’s stock valued at $578,000 after purchasing an additional 2,904 shares during the last quarter. Sei Investments Co. boosted its stake in shares of Karat Packaging by 23.6% in the 1st quarter. Sei Investments Co. now owns 46,430 shares of the company’s stock valued at $922,000 after purchasing an additional 8,857 shares during the last quarter. Wasatch Advisors Inc. boosted its stake in shares of Karat Packaging by 1.0% in the 1st quarter. Wasatch Advisors Inc. now owns 404,021 shares of the company’s stock valued at $8,020,000 after purchasing an additional 3,818 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. bought a new position in shares of Karat Packaging in the 1st quarter valued at about $215,000. Institutional investors own 19.69% of the company’s stock.

Karat Packaging Company Profile

(Get Rating)

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.

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Earnings History for Karat Packaging (NASDAQ:KRT)

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