Robert W. Baird Increases Ranpak (NYSE:PACK) Price Target to $8.00

Ranpak (NYSE:PACK) had its target price boosted by Robert W. Baird from $7.00 to $8.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an outperform rating on the stock.

Separately, Craig Hallum upped their price target on shares of Ranpak from $8.00 to $10.00 and gave the stock a buy rating in a research note on Monday, April 1st.

Ranpak Price Performance

NYSE PACK opened at $6.78 on Friday. The company has a 50-day moving average price of $6.79 and a two-hundred day moving average price of $5.23. The stock has a market cap of $560.16 million, a price-to-earnings ratio of -24.21 and a beta of 2.31. Ranpak has a 52 week low of $2.63 and a 52 week high of $8.29. The company has a current ratio of 2.44, a quick ratio of 2.06 and a debt-to-equity ratio of 0.70.

Ranpak (NYSE:PACK) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.04). The company had revenue of $85.30 million during the quarter, compared to analyst estimates of $85.50 million. Ranpak had a negative return on equity of 3.97% and a negative net margin of 6.70%. The firm’s quarterly revenue was up 5.0% on a year-over-year basis.

Institutional Trading of Ranpak

Several institutional investors and hedge funds have recently added to or reduced their stakes in PACK. SG Americas Securities LLC acquired a new stake in Ranpak during the third quarter valued at approximately $107,000. Roubaix Capital LLC lifted its stake in Ranpak by 1.0% during the third quarter. Roubaix Capital LLC now owns 423,662 shares of the company’s stock valued at $2,305,000 after purchasing an additional 4,043 shares during the last quarter. Simplex Trading LLC lifted its stake in Ranpak by 827.6% during the third quarter. Simplex Trading LLC now owns 11,827 shares of the company’s stock valued at $64,000 after purchasing an additional 10,552 shares during the last quarter. Group One Trading L.P. acquired a new stake in Ranpak during the third quarter valued at approximately $54,000. Finally, Westfield Capital Management Co. LP lifted its stake in Ranpak by 10.0% during the third quarter. Westfield Capital Management Co. LP now owns 442,450 shares of the company’s stock valued at $2,407,000 after purchasing an additional 40,250 shares during the last quarter. 85.94% of the stock is owned by institutional investors and hedge funds.

Ranpak Company Profile

Ranpak Holdings Corp., together with its subsidiaries, provides product protection solutions and end-of-line automation solutions for e-commerce and industrial supply chains in North America, Europe, and Asia. The company offers protective packaging solutions, such as void-fill protective systems that convert paper to fill empty spaces in secondary packages and protect objects under the FillPak brand; cushioning protective systems, which convert paper into cushioning pads under the PadPak brand; and wrapping protective systems that create pads or paper mesh to wrap and protect fragile items, as well as to line boxes and provide separation when shipping various objects under the WrapPak, Geami, and ReadyRoll brands, as well as cold chain products, which are used to provide insulation for goods.