Ranpak’s (PACK) “Buy” Rating Reaffirmed at Craig Hallum

Craig Hallum reaffirmed their buy rating on shares of Ranpak (NYSE:PACK) in a research report sent to investors on Thursday, Benzinga reports. They currently have a $10.00 price target on the stock.

Separately, Robert W. Baird boosted their target price on Ranpak from $7.00 to $8.00 and gave the stock an outperform rating in a research report on Friday, May 3rd.

Ranpak Price Performance

NYSE:PACK opened at $6.49 on Thursday. The company has a current ratio of 2.44, a quick ratio of 2.06 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $538.61 million, a P/E ratio of -23.18 and a beta of 2.31. Ranpak has a 12 month low of $2.63 and a 12 month high of $8.29. The business’s 50-day moving average is $6.62 and its 200 day moving average is $5.87.

Ranpak (NYSE:PACK) last posted its earnings results on Thursday, May 2nd. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.04). The firm had revenue of $85.30 million during the quarter, compared to analysts’ expectations of $85.50 million. Ranpak had a negative return on equity of 3.97% and a negative net margin of 6.70%. The company’s quarterly revenue was up 5.0% compared to the same quarter last year.

Insiders Place Their Bets

In other Ranpak news, Director Michael Anthony Jones sold 15,625 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $6.41, for a total transaction of $100,156.25. Following the sale, the director now directly owns 214,859 shares of the company’s stock, valued at $1,377,246.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Ranpak by 1.1% during the first quarter. Vanguard Group Inc. now owns 2,333,187 shares of the company’s stock valued at $18,362,000 after buying an additional 25,073 shares during the last quarter. G2 Investment Partners Management LLC lifted its holdings in Ranpak by 102.5% during the fourth quarter. G2 Investment Partners Management LLC now owns 1,863,540 shares of the company’s stock worth $10,846,000 after buying an additional 943,210 shares during the period. Roubaix Capital LLC lifted its holdings in Ranpak by 188.8% during the first quarter. Roubaix Capital LLC now owns 714,592 shares of the company’s stock worth $5,624,000 after buying an additional 467,179 shares during the period. Kennedy Capital Management LLC lifted its holdings in shares of Ranpak by 11.2% during the 3rd quarter. Kennedy Capital Management LLC now owns 495,522 shares of the company’s stock valued at $2,696,000 after purchasing an additional 49,915 shares during the last quarter. Finally, Westfield Capital Management Co. LP lifted its holdings in shares of Ranpak by 10.0% during the 3rd quarter. Westfield Capital Management Co. LP now owns 442,450 shares of the company’s stock valued at $2,407,000 after purchasing an additional 40,250 shares during the last quarter. 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.