Ranpak (NYSE:PACK) Coverage Initiated at Cantor Fitzgerald

Cantor Fitzgerald started coverage on shares of Ranpak (NYSE:PACK) in a report published on Thursday morning, MarketBeat.com reports. The brokerage issued an overweight rating and a $11.50 price target on the stock.

Separately, Robert W. Baird reduced their price objective on shares of Ranpak from $10.00 to $7.00 and set a “neutral” rating for the company in a research note on Friday, November 1st.

Ranpak Stock Down 0.1 %

Ranpak stock opened at $7.13 on Thursday. The firm has a market capitalization of $593.62 million, a price-to-earnings ratio of -29.71 and a beta of 2.42. The firm has a 50 day simple moving average of $6.98 and a 200 day simple moving average of $6.75. Ranpak has a 1-year low of $3.85 and a 1-year high of $9.04. The company has a current ratio of 2.36, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71.

Ranpak (NYSE:PACK) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The company had revenue of $92.20 million for the quarter, compared to analysts’ expectations of $90.76 million. Ranpak had a negative return on equity of 3.54% and a negative net margin of 5.64%. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period last year, the company posted ($0.03) EPS.

Institutional Trading of Ranpak

A number of large investors have recently modified their holdings of the business. Franklin Resources Inc. increased its position in shares of Ranpak by 15.6% in the third quarter. Franklin Resources Inc. now owns 28,900 shares of the company’s stock worth $183,000 after purchasing an additional 3,909 shares during the last quarter. Barclays PLC increased its holdings in shares of Ranpak by 367.0% in the 3rd quarter. Barclays PLC now owns 73,116 shares of the company’s stock worth $478,000 after buying an additional 57,461 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Ranpak by 4.2% during the 3rd quarter. Geode Capital Management LLC now owns 990,835 shares of the company’s stock valued at $6,471,000 after buying an additional 40,049 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its holdings in shares of Ranpak by 16.7% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 56,343 shares of the company’s stock worth $368,000 after acquiring an additional 8,047 shares during the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of Ranpak by 93.8% during the 3rd quarter. Jane Street Group LLC now owns 84,763 shares of the company’s stock worth $554,000 after acquiring an additional 41,030 shares during the last quarter. Institutional investors own 85.94% of the company’s stock.

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.