Ranpak (NYSE:PACK) Earns Overweight Rating from Analysts at Cantor Fitzgerald

Cantor Fitzgerald assumed coverage on shares of Ranpak (NYSE:PACK) in a research note issued to investors on Thursday morning, Marketbeat reports. The firm issued an overweight rating and a $11.50 price target on the stock.

Separately, Robert W. Baird reduced their target price on Ranpak from $10.00 to $7.00 and set a “neutral” rating for the company in a report on Friday, November 1st.

Ranpak Trading Down 0.1 %

Shares of Ranpak stock opened at $7.13 on Thursday. The company has a current ratio of 2.36, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. The stock has a fifty day simple moving average of $6.98 and a 200 day simple moving average of $6.75. Ranpak has a 12-month low of $3.85 and a 12-month high of $9.04. The company has a market capitalization of $593.62 million, a P/E ratio of -29.71 and a beta of 2.42.

Ranpak (NYSE:PACK) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). Ranpak had a negative net margin of 5.64% and a negative return on equity of 3.54%. The firm had revenue of $92.20 million for the quarter, compared to the consensus estimate of $90.76 million. During the same period in the previous year, the business earned ($0.03) earnings per share. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis.

Institutional Trading of Ranpak

A number of large investors have recently added to or reduced their stakes in PACK. Innealta Capital LLC bought a new position in shares of Ranpak during the 2nd quarter valued at approximately $31,000. Quarry LP bought a new position in Ranpak during the third quarter valued at $39,000. Quantbot Technologies LP purchased a new stake in Ranpak in the third quarter worth $42,000. Glenmede Trust Co. NA purchased a new stake in Ranpak in the third quarter worth $67,000. Finally, Paloma Partners Management Co bought a new stake in shares of Ranpak in the third quarter valued at $68,000. Hedge funds and other 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.