This Stock Is Trading at New All-Time Highs and Looks Like a Great Long-Term Winner

Karat Packaging (KRT) demonstrates strong technical momentum and is trading at a new all-time high.

Shares are up more than 110% over the past year.

KRT has projected revenue growth of 12.01% this year and 8.47% next year.

Analyst sentiment is mixed. The consensus leans "Strong Buy," but some see the stock as overvalued.

Valued at $1 billion, Karat Packaging (KRT) is a specialty distributor and manufacturer of disposable foodservice products and related items. Its products include food and take-out containers, bags, tableware, cups, lids, cutlery, straws, specialty beverage ingredients, equipment, gloves, and other products. The company also offers customized solutions, including new product development and design, printing and logistics services.

I found today's Chart of the Day by using Barchart's powerful screening functions to sort for stocks with the highest technical buy signals and superior current momentum. I then used Barchart's Flipcharts feature to review the charts for consistent price appreciation. KRT checks those boxes. The Trend Seeker issued a new "Buy" signal on June 11. The stock has gained 72.41% since that signal.

Barchart's Technical Indicators for Karat Packaging

Editor's Note: The technical indicators below are updated live during the session every 20 minutes and can therefore change each day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report. These technical indicators form the Barchart Opinion on a particular stock.

Karat Packaging an all-time high of $51.88 on Sept. 22.

KRT has a 100% "Buy" opinion from Barchart.

The stock has gained 111.58% over the past 52 weeks.

Karat has its Trend Seeker "Buy" signal intact.

The stock recently traded at $51.35 with a 50-day moving average of $45.27.

KRT had 7 highs and gained 6.83% in the last month.

There's a technical support level around $49.57.

Revenue is projected to grow 12.01% this year and another 8.47% next year.

Earnings are estimated to increase by 68.94% this year but decrease by 14.34% next year.