Ranpak (NYSE:PACK) Trading 6.9% Higher – Here’s Why

Ranpak Holdings Corp (NYSE:PACK) was up 6.9% during trading on Wednesday . The stock traded as high as $7.01 and last traded at $7.0150. 16,864 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 539,825 shares. The stock had previously closed at $6.56.

Wall Street Analyst Weigh In

Several research firms have recently commented on PACK. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ranpak in a research report on Friday. Wall Street Zen upgraded shares of Ranpak from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Ranpak presently has a consensus rating of “Moderate Buy” and an average target price of $6.83.

Ranpak Stock Performance

The company has a 50 day moving average of $6.80 and a two-hundred day moving average of $5.50. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.73 and a quick ratio of 1.32. The company has a market capitalization of $603.43 million, a PE ratio of -15.94 and a beta of 3.11.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Rhumbline Advisers lifted its holdings in shares of Ranpak by 2.9% during the third quarter. Rhumbline Advisers now owns 70,261 shares of the company’s stock valued at $395,000 after purchasing an additional 2,008 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Ranpak by 7.4% in the 3rd quarter. Bank of America Corp DE now owns 35,583 shares of the company’s stock worth $200,000 after buying an additional 2,452 shares during the last quarter. Deutsche Bank AG increased its position in Ranpak by 8.0% during the 4th quarter. Deutsche Bank AG now owns 35,834 shares of the company’s stock valued at $194,000 after buying an additional 2,647 shares in the last quarter. Gamco Investors INC. ET AL raised its stake in Ranpak by 27.9% during the second quarter. Gamco Investors INC. ET AL now owns 14,000 shares of the company’s stock valued at $50,000 after buying an additional 3,050 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Ranpak by 20.7% during the second quarter. The Manufacturers Life Insurance Company now owns 19,647 shares of the company’s stock valued at $70,000 after buying an additional 3,364 shares during the last quarter. 85.94% of the stock is owned by hedge funds and other institutional investors.

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.