Ranpak (NYSE:PACK) Shares Gap Up to $5.70

Ranpak Holdings Corp. (NYSE:PACK)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $5.70, but opened at $6.15. Ranpak shares last traded at $6.39, with a volume of 172,463 shares.

Analysts Set New Price Targets

Several research firms recently commented on PACK. Craig Hallum reaffirmed a “buy” rating and issued a $10.00 price target on shares of Ranpak in a report on Thursday. Robert W. Baird upped their target price on Ranpak from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Friday, May 3rd.

Ranpak Stock Down 4.8 %

The business’s 50 day simple moving average is $6.58 and its 200 day simple moving average is $5.89. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.44 and a quick ratio of 2.06. The company has a market capitalization of $512.88 million, a PE ratio of -22.07 and a beta of 2.31.

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

Insider Transactions at Ranpak

In other Ranpak news, Director Michael Anthony Jones sold 15,625 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $6.41, for a total value of $100,156.25. Following the transaction, the director now owns 214,859 shares of the company’s stock, valued at $1,377,246.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 8.40% of the company’s stock.

Institutional Trading of Ranpak

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PACK. Price T Rowe Associates Inc. MD raised its holdings in shares of Ranpak by 8.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,268 shares of the company’s stock valued at $231,000 after buying an additional 2,191 shares during the period. Roubaix Capital LLC lifted its position in shares of 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 purchasing an additional 467,179 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Ranpak by 1.1% in the first quarter. Vanguard Group Inc. now owns 2,333,187 shares of the company’s stock valued at $18,362,000 after purchasing an additional 25,073 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of Ranpak by 4.8% in the first quarter. Russell Investments Group Ltd. now owns 321,430 shares of the company’s stock valued at $2,530,000 after purchasing an additional 14,833 shares in the last quarter. Finally, Empowered Funds LLC grew its holdings in shares of Ranpak by 50.5% in the first quarter. Empowered Funds LLC now owns 270,545 shares of the company’s stock valued at $2,129,000 after purchasing an additional 90,773 shares in the last quarter. Hedge funds and other institutional investors own 85.94% of the company’s stock.

About Ranpak

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.