Ranpak (NYSE:PACK) Trading Down 3.3% – What’s Next?

Shares of Ranpak Holdings Corp (NYSE:PACK) were down 3.3% during mid-day trading on Tuesday . The company traded as low as $5.14 and last traded at $5.24. Approximately 374,075 shares traded hands during mid-day trading, an increase of 27% from the average daily volume of 295,546 shares. The stock had previously closed at $5.42.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Robert W. Baird set a $6.00 price objective on Ranpak in a research note on Friday, October 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of Ranpak in a report on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $7.50.

Ranpak Trading Down 3.3%

The company has a debt-to-equity ratio of 0.74, a current ratio of 1.88 and a quick ratio of 1.42. The stock has a 50-day moving average price of $5.40 and a two-hundred day moving average price of $5.01. The stock has a market cap of $442.15 million, a PE ratio of -11.91 and a beta of 2.76.

Ranpak (NYSE:PACK) last announced its quarterly earnings results on Thursday, October 30th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.09). Ranpak had a negative net margin of 9.48% and a negative return on equity of 6.79%. The firm had revenue of $99.60 million for the quarter, compared to the consensus estimate of $99.94 million. Sell-side analysts forecast that Ranpak Holdings Corp will post -0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ranpak

A number of hedge funds have recently bought and sold shares of the business. G2 Investment Partners Management LLC grew its stake in shares of Ranpak by 21.5% in the 2nd quarter. G2 Investment Partners Management LLC now owns 4,660,451 shares of the company’s stock worth $16,638,000 after buying an additional 823,745 shares in the last quarter. Schusterman Interests LLC grew its position in Ranpak by 2,995.5% in the third quarter. Schusterman Interests LLC now owns 3,018,616 shares of the company’s stock worth $16,965,000 after acquiring an additional 2,921,099 shares in the last quarter. Vanguard Group Inc. grew its position in Ranpak by 0.5% in the third quarter. Vanguard Group Inc. now owns 2,652,198 shares of the company’s stock worth $14,905,000 after acquiring an additional 13,362 shares in the last quarter. Millennium Management LLC increased its stake in Ranpak by 8,737.4% during the third quarter. Millennium Management LLC now owns 1,194,909 shares of the company’s stock worth $6,715,000 after acquiring an additional 1,181,388 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Ranpak by 2.9% during the second quarter. Geode Capital Management LLC now owns 1,084,531 shares of the company’s stock valued at $3,872,000 after purchasing an additional 30,529 shares during the period. Hedge funds and other institutional investors own 85.94% of the company’s stock.

Ranpak Company Profile

Ranpak Holdings Corp. (NYSE: PACK) is a leading provider of sustainable, paper-based packaging solutions designed to protect products during transit. The company’s core business centers on the design, manufacture and distribution of automated systems and consumable paper packaging materials that offer an eco-friendly alternative to plastic-based void-fill and protective packaging. Ranpak’s solutions include crumpled paper fillers, paper wrap systems and tailored automation equipment that serve diverse end markets such as e-commerce, industrial parts, electronics and retail.

Founded in 1972 and headquartered in Concord Township, Ohio, Ranpak has built a global presence by combining innovation in paper converting technology with a commitment to sustainability.