Brokers Issue Forecasts for Ranpak FY2024 Earnings

Ranpak Holdings Corp. (NYSE:PACK) – Cantor Fitzgerald issued their FY2024 earnings per share estimates for Ranpak in a report released on Thursday, December 19th. Cantor Fitzgerald analyst T. Jensen expects that the company will post earnings of ($0.20) per share for the year. Cantor Fitzgerald has a “Overweight” rating and a $11.50 price objective on the stock.

Separately, Robert W. Baird cut their target price on Ranpak from $10.00 to $7.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st.

Ranpak Price Performance

Shares of PACK opened at $7.00 on Monday. Ranpak has a twelve month low of $3.85 and a twelve month high of $9.04. The company has a market capitalization of $582.80 million, a P/E ratio of -29.17 and a beta of 2.42. The firm has a 50 day moving average of $6.98 and a 200 day moving average of $6.76. The company has a quick ratio of 2.01, a current ratio of 2.36 and a debt-to-equity ratio of 0.71.

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

Institutional Trading of Ranpak

Large investors have recently made changes to their positions in the stock. Innealta Capital LLC purchased a new position in Ranpak in the second quarter worth about $31,000. Quarry LP purchased a new position in shares of Ranpak in the third quarter worth approximately $39,000. Quantbot Technologies LP bought a new stake in Ranpak during the third quarter valued at approximately $42,000. Glenmede Trust Co. NA purchased a new stake in Ranpak during the third quarter valued at approximately $67,000. Finally, Paloma Partners Management Co bought a new position in Ranpak in the third quarter worth approximately $68,000. 85.94% of the stock is currently owned by 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.