Ranpak (NYSE:PACK) Sets New 12-Month High – Time to Buy?

Ranpak Holdings Corp (NYSE:PACK)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $7.16 and last traded at $6.9610, with a volume of 42414 shares traded. The stock had previously closed at $6.83.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PACK shares. Wall Street Zen raised shares of Ranpak from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ranpak in a report on Tuesday, April 21st. Craig Hallum lowered their price objective on Ranpak from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday, March 6th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Ranpak in a research note on Friday, March 6th. Finally, UBS Group reissued an “overweight” rating on shares of Ranpak in a research report on Friday, March 6th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ranpak currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.83.

Ranpak Stock Down 2.8%

The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.32 and a current ratio of 1.73. The business’s 50 day moving average price is $5.29 and its 200-day moving average price is $5.15. The firm has a market capitalization of $577.00 million, a PE ratio of -15.33 and a beta of 3.14.

Ranpak (NYSE:PACK) last announced its earnings results on Thursday, April 30th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.01). The firm had revenue of $101.20 million for the quarter, compared to analysts’ expectations of $91.59 million. Ranpak had a negative net margin of 9.28% and a negative return on equity of 7.04%. As a group, equities research analysts forecast that Ranpak Holdings Corp will post -0.25 earnings per share for the current year.

Institutional Trading of Ranpak

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE lifted its position in shares of Ranpak by 84.1% during the 1st quarter. Bank of America Corp DE now owns 98,213 shares of the company’s stock worth $351,000 after buying an additional 44,871 shares during the last quarter. Gabelli Funds LLC boosted its stake in shares of Ranpak by 6.3% during the first quarter. Gabelli Funds LLC now owns 101,485 shares of the company’s stock worth $362,000 after buying an additional 5,985 shares during the period. Gamco Investors INC. ET AL raised its stake in Ranpak by 28.6% during the 1st quarter. Gamco Investors INC. ET AL now owns 18,000 shares of the company’s stock valued at $64,000 after acquiring an additional 4,000 shares during the last quarter. Sei Investments Co. lifted its position in Ranpak by 538.5% during the 1st quarter. Sei Investments Co. now owns 120,751 shares of the company’s stock worth $431,000 after acquiring an additional 101,840 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Ranpak by 3.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,045,306 shares of the company’s stock worth $10,871,000 after acquiring an additional 102,942 shares during the period. 85.94% of the stock is currently owned by institutional investors and hedge funds.

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.