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

Craig Hallum reiterated their buy rating on shares of Ranpak (NYSE:PACKFree Report) in a report released on Thursday morning, Benzinga reports. The brokerage currently has a $10.00 price objective on the stock.

Separately, Robert W. Baird increased their price target on Ranpak from $7.00 to $8.00 and gave the stock an outperform rating in a report on Friday, May 3rd.

Get Our Latest Analysis on Ranpak

Ranpak Price Performance

Shares of NYSE PACK opened at $6.18 on Thursday. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.44 and a quick ratio of 2.06. The stock has a fifty day moving average price of $6.58 and a 200 day moving average price of $5.90. Ranpak has a 1-year low of $2.63 and a 1-year high of $8.29. The company has a market cap of $512.88 million, a PE ratio of -22.07 and a beta of 2.31.

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

Insiders Place Their Bets

In other Ranpak news, Director Michael Anthony Jones sold 15,625 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $6.41, for a total value of $100,156.25. Following the completion of the transaction, the director now owns 214,859 shares in the company, valued at $1,377,246.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 8.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased 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 buying an additional 2,191 shares in the last quarter. Roubaix Capital LLC increased its position in shares of Ranpak by 188.8% in the first quarter. Roubaix Capital LLC now owns 714,592 shares of the company’s stock valued at $5,624,000 after buying an additional 467,179 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Ranpak by 1.1% in the first quarter. Vanguard Group Inc. now owns 2,333,187 shares of the company’s stock valued at $18,362,000 after buying an additional 25,073 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Ranpak by 4.8% during the first quarter. Russell Investments Group Ltd. now owns 321,430 shares of the company’s stock valued at $2,530,000 after acquiring an additional 14,833 shares during the last quarter. Finally, Empowered Funds LLC boosted its stake in shares of Ranpak by 50.5% during the first quarter. Empowered Funds LLC now owns 270,545 shares of the company’s stock valued at $2,129,000 after acquiring an additional 90,773 shares during the last quarter. Hedge funds and other institutional investors own 85.94% of the company’s stock.

About Ranpak

(Get Free Report)

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.

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