Ranpak (NYSE:PACK) Stock Rating Upgraded by Wall Street Zen

Ranpak (NYSE:PACK) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

PACK has been the topic of several other reports. UBS Group reaffirmed an “overweight” rating on shares of Ranpak in a report on Friday, March 6th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Ranpak in a research note on Friday, March 6th. Craig Hallum decreased their price objective on Ranpak from $10.00 to $8.00 and set a “buy” rating for the company in a report on Friday, March 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Ranpak in a research note on Thursday, January 22nd. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $6.83.

Ranpak Stock Performance

PACK opened at $3.59 on Friday. The company has a current ratio of 1.83, a quick ratio of 1.47 and a debt-to-equity ratio of 0.74. Ranpak has a 12-month low of $2.91 and a 12-month high of $6.31. The firm has a 50 day moving average of $4.62 and a two-hundred day moving average of $5.09. The firm has a market capitalization of $303.72 million, a PE ratio of -7.97 and a beta of 2.88.

Ranpak (NYSE:PACK) last released its quarterly earnings data on Thursday, March 5th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.09). Ranpak had a negative net margin of 9.70% and a negative return on equity of 7.11%. The business had revenue of $111.90 million during the quarter, compared to analysts’ expectations of $112.82 million. On average, analysts anticipate that Ranpak will post -0.2 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Royce & Associates LP acquired a new position in Ranpak during the third quarter worth $2,529,000. Bastion Asset Management Inc. acquired a new stake in shares of Ranpak in the third quarter valued at about $3,201,000. G2 Investment Partners Management LLC grew its position in shares of Ranpak by 21.5% in the second quarter. G2 Investment Partners Management LLC now owns 4,660,451 shares of the company’s stock valued at $16,638,000 after purchasing an additional 823,745 shares during the period. First Eagle Investment Management LLC purchased a new stake in shares of Ranpak during the third quarter worth about $1,027,000. Finally, Divisadero Street Capital Management LP increased its stake in shares of Ranpak by 150.0% during the third quarter. Divisadero Street Capital Management LP now owns 250,001 shares of the company’s stock worth $1,405,000 after purchasing an additional 150,000 shares in the last quarter. Hedge funds and other institutional investors own 85.94% of the company’s stock.

About Ranpak

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.