Ranpak’s (PACK) Buy Rating Reaffirmed at Craig Hallum

Ranpak (NYSE:PACK)‘s stock had its “buy” rating reiterated by investment analysts at Craig Hallum in a report released on Thursday, Benzinga reports. They presently have a $10.00 target price on the stock. Craig Hallum’s target price would indicate a potential upside of 61.81% from the company’s previous close.

Separately, Robert W. Baird lifted their price objective on shares of Ranpak from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Friday, May 3rd.

Ranpak Trading Down 4.8 %

PACK opened at $6.18 on Thursday. Ranpak has a 1-year low of $2.63 and a 1-year 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. The company has a market cap of $512.88 million, a P/E ratio of -22.07 and a beta of 2.31. The company has a fifty day moving average price of $6.58 and a two-hundred day moving average price of $5.89.

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

Insider Buying and Selling

In related news, Director Michael Anthony Jones sold 15,625 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $6.41, for a total transaction of $100,156.25. Following the transaction, the director now directly owns 214,859 shares in the company, valued at $1,377,246.19. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 8.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Group One Trading L.P. bought a new stake in shares of Ranpak in the third quarter valued at approximately $54,000. Tower Research Capital LLC TRC raised its position in shares of Ranpak by 397.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,500 shares of the company’s stock valued at $61,000 after purchasing an additional 8,390 shares during the period. SG Americas Securities LLC raised its position in shares of Ranpak by 38.2% in the fourth quarter. SG Americas Securities LLC now owns 27,079 shares of the company’s stock valued at $158,000 after purchasing an additional 7,488 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Ranpak by 8.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 29,268 shares of the company’s stock valued at $231,000 after purchasing an additional 2,191 shares during the period. Finally, BNP Paribas Financial Markets raised its position in shares of Ranpak by 227.0% in the first quarter. BNP Paribas Financial Markets now owns 37,996 shares of the company’s stock valued at $299,000 after purchasing an additional 26,377 shares during the period. 85.94% of the stock is currently owned by hedge funds and other institutional investors.

About Ranpak

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.