Ranpak Holdings Corp (NYSE:PACK) Receives $6.83 Average PT from Brokerages

Ranpak Holdings Corp (NYSE:PACK) has received an average rating of “Hold” from the five analysts that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $6.8333.

Several brokerages recently issued reports on PACK. UBS Group reaffirmed an “overweight” rating on shares of Ranpak in a research note on Friday, March 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Ranpak in a report on Thursday, January 22nd. Craig Hallum dropped their price target on Ranpak from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, March 6th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Ranpak in a report on Friday, March 6th.

Institutional Trading of Ranpak

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Royce & Associates LP purchased a new position in Ranpak during the third quarter worth about $2,529,000. Bastion Asset Management Inc. purchased a new stake in shares of Ranpak in the 3rd quarter valued at approximately $3,201,000. G2 Investment Partners Management LLC increased its holdings in shares of Ranpak by 21.5% during 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 during the last quarter. First Eagle Investment Management LLC acquired a new stake in shares of Ranpak during the 3rd quarter worth approximately $1,027,000. Finally, Divisadero Street Capital Management LP raised its position in shares of Ranpak by 150.0% during the 3rd quarter. Divisadero Street Capital Management LP now owns 250,001 shares of the company’s stock valued at $1,405,000 after buying an additional 150,000 shares during the period. 85.94% of the stock is owned by institutional investors and hedge funds.

Ranpak Trading Down 1.0%

Shares of PACK opened at $3.59 on Tuesday. Ranpak has a 52-week low of $2.91 and a 52-week high of $6.31. The stock has a market cap of $303.72 million, a PE ratio of -7.97 and a beta of 2.88. The firm’s fifty day moving average is $4.66 and its two-hundred day moving average is $5.09. The company has a quick ratio of 1.47, a current ratio of 1.83 and a debt-to-equity ratio of 0.74.

Ranpak (NYSE:PACK) last issued its earnings results on Thursday, March 5th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.09). The business had revenue of $111.90 million during the quarter, compared to analyst estimates of $112.82 million. Ranpak had a negative net margin of 9.70% and a negative return on equity of 7.11%. Research analysts forecast that Ranpak will post -0.2 earnings per share for the current fiscal year.

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.