Ranpak (NYSE:PACK) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Ranpak (NYSE:PACK) from a sell rating to a hold rating in a report released on Saturday morning.

Other equities research analysts have also issued reports about the stock. Craig Hallum dropped their price objective on shares of Ranpak from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, March 6th. Cantor Fitzgerald restated an “overweight” rating on shares of Ranpak in a research note on Friday, March 6th. UBS Group reaffirmed an “overweight” rating on shares of Ranpak in a research report on Friday, March 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Ranpak in a report on Thursday, January 22nd. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $6.83.

Ranpak Stock Performance

Shares of Ranpak stock opened at $3.59 on Friday. The company has a 50 day moving average price of $4.62 and a 200 day moving average price of $5.09. The firm has a market capitalization of $303.72 million, a P/E ratio of -7.97 and a beta of 2.88. The company has a quick ratio of 1.47, a current ratio of 1.83 and a debt-to-equity ratio of 0.74. Ranpak has a 52 week low of $2.91 and a 52 week high of $6.31.

Ranpak (NYSE:PACK) last released its earnings results on Thursday, March 5th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.09). The company had revenue of $111.90 million for the quarter, compared to analysts’ expectations of $112.82 million. Ranpak had a negative return on equity of 7.11% and a negative net margin of 9.70%. Sell-side analysts expect that Ranpak will post -0.2 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PACK. G2 Investment Partners Management LLC lifted its position in Ranpak by 21.5% during the second quarter. G2 Investment Partners Management LLC now owns 4,660,451 shares of the company’s stock valued at $16,638,000 after purchasing an additional 823,745 shares during the period. Schusterman Interests LLC grew its position in Ranpak by 2,995.5% during the 3rd quarter. Schusterman Interests LLC now owns 3,018,616 shares of the company’s stock worth $16,965,000 after purchasing an additional 2,921,099 shares during the period. Vanguard Group Inc. grew its position in Ranpak by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 2,652,198 shares of the company’s stock worth $14,905,000 after purchasing an additional 13,362 shares during the period. Millennium Management LLC raised its stake in shares of Ranpak by 32.9% during the 4th quarter. Millennium Management LLC now owns 1,588,253 shares of the company’s stock valued at $8,592,000 after buying an additional 393,344 shares during the last quarter. Finally, Royce & Associates LP raised its stake in shares of Ranpak by 185.6% during the 4th quarter. Royce & Associates LP now owns 1,285,000 shares of the company’s stock valued at $6,952,000 after buying an additional 835,000 shares during the last quarter. Hedge funds and other institutional investors own 85.94% of the company’s stock.

Ranpak Company Profile

Ranpak Holdings Corp. (NYSE: PACK) is a leading provider of sustainable, paper-based packaging solutions designed to protect products during transit. The company’s core business centers on the design, manufacture and distribution of automated systems and consumable paper packaging materials that offer an eco-friendly alternative to plastic-based void-fill and protective packaging. Ranpak’s solutions include crumpled paper fillers, paper wrap systems and tailored automation equipment that serve diverse end markets such as e-commerce, industrial parts, electronics and retail.

Founded in 1972 and headquartered in Concord Township, Ohio, Ranpak has built a global presence by combining innovation in paper converting technology with a commitment to sustainability.