Ranpak (NYSE:PACK) Shares Down 4.4% – What’s Next?

Ranpak Holdings Corp. (NYSE:PACK)’s stock price traded down 4.4% during trading on Thursday . The company traded as low as $8.25 and last traded at $8.06. 435,851 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 967,664 shares. The stock had previously closed at $8.43.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PACK. Cantor Fitzgerald began coverage on shares of Ranpak in a research report on Thursday, December 19th. They set an “overweight” rating and a $11.50 price objective on the stock. Robert W. Baird lowered their price target on Ranpak from $10.00 to $7.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st.

Ranpak Stock Down 8.5 %

The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.36. The company has a market cap of $641.93 million, a PE ratio of -32.07 and a beta of 2.41. The stock’s 50 day moving average price is $7.11 and its 200-day moving average price is $6.85.

Ranpak (NYSE:PACK) last released 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 company had revenue of $92.20 million during 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 firm’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.03) EPS. On average, analysts predict that Ranpak Holdings Corp. will post -0.2 earnings per share for the current year.

Institutional Investors Weigh In On Ranpak

Several institutional investors have recently added to or reduced their stakes in the company. Quarry LP bought a new position in shares of Ranpak during the third quarter valued at about $39,000. Quantbot Technologies LP bought a new position in Ranpak during the 3rd quarter valued at approximately $42,000. Glenmede Trust Co. NA purchased a new stake in Ranpak in the 3rd quarter worth approximately $67,000. Paloma Partners Management Co bought a new stake in shares of Ranpak in the 3rd quarter worth approximately $68,000. Finally, BNP Paribas Financial Markets increased its stake in shares of Ranpak by 27.6% during the third quarter. BNP Paribas Financial Markets now owns 14,258 shares of the company’s stock valued at $93,000 after buying an additional 3,087 shares during the period. Hedge funds and other 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.