Ranpak (NYSE:PACK) Upgraded 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 issued on Saturday.

Other analysts have also recently issued research reports about the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Ranpak in a research note on Friday, March 6th. Craig Hallum cut their price objective on shares of Ranpak from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, March 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Ranpak in a research report on Tuesday, April 21st. Finally, UBS Group restated an “overweight” rating on shares of Ranpak in a research report on Friday, March 6th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Ranpak has an average rating of “Hold” and a consensus price target of $6.83.

Ranpak Stock Up 9.9%

Shares of NYSE:PACK opened at $5.60 on Friday. The stock has a market cap of $474.01 million, a P/E ratio of -12.72 and a beta of 3.06. The firm has a fifty day moving average price of $4.04 and a 200 day moving average price of $4.91. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.83 and a quick ratio of 1.47. Ranpak has a 1-year low of $2.91 and a 1-year high of $6.31.

Ranpak (NYSE:PACK) last issued its quarterly earnings results on Thursday, April 30th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.01). The business had revenue of $101.20 million for the quarter, compared to analyst estimates of $91.59 million. Ranpak had a negative return on equity of 7.00% and a negative net margin of 9.28%. Sell-side analysts predict that Ranpak will post -0.27 EPS for the current year.

Hedge Funds Weigh In On Ranpak

Several hedge funds have recently added to or reduced their stakes in PACK. Schusterman Interests LLC increased its holdings in Ranpak by 2,995.5% during the 3rd quarter. Schusterman Interests LLC now owns 3,018,616 shares of the company’s stock valued at $16,965,000 after acquiring an additional 2,921,099 shares in the last quarter. Millennium Management LLC increased its holdings in Ranpak by 8,737.4% during the 3rd quarter. Millennium Management LLC now owns 1,194,909 shares of the company’s stock valued at $6,715,000 after acquiring an additional 1,181,388 shares in the last quarter. Royce & Associates LP increased its holdings in 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 acquiring an additional 835,000 shares in the last quarter. CenterBook Partners LP purchased a new position in Ranpak during the 4th quarter valued at about $4,309,000. Finally, Samjo Management LLC purchased a new position in Ranpak during the 4th quarter valued at about $3,537,000. 85.94% of the stock is currently owned by hedge funds and other institutional investors.

About Ranpak

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.