Ranpak (NYSE:PACK) Price Target Cut to $7.00 by Analysts at Robert W. Baird

Ranpak (NYSE:PACK) had its price target decreased by Robert W. Baird from $10.00 to $7.00 in a research report sent to investors on Friday morning, Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

Separately, Baird R W cut shares of Ranpak from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 14th.

Ranpak Stock Up 1.8 %

Shares of NYSE PACK opened at $6.22 on Friday. The stock has a market capitalization of $517.63 million, a P/E ratio of -25.92 and a beta of 2.37. The stock’s fifty day moving average is $6.29 and its 200 day moving average is $6.61. Ranpak has a 52 week low of $2.80 and a 52 week high of $9.04. The company has a debt-to-equity ratio of 0.69, a quick ratio of 2.07 and a current ratio of 2.52.

Ranpak (NYSE:PACK) last issued its 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). The business had revenue of $92.20 million during the quarter, compared to analyst estimates of $90.76 million. Ranpak had a negative net margin of 5.64% and a negative return on equity of 3.53%. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.03) EPS.

Institutional Trading of Ranpak

A number of large investors have recently bought and sold shares of PACK. Meros Investment Management LP boosted its position in shares of Ranpak by 32.6% during the 2nd quarter. Meros Investment Management LP now owns 943,729 shares of the company’s stock valued at $6,068,000 after purchasing an additional 231,779 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Ranpak during the 2nd quarter worth approximately $713,000. Los Angeles Capital Management LLC increased its stake in shares of Ranpak by 177.4% in the 2nd quarter. Los Angeles Capital Management LLC now owns 127,512 shares of the company’s stock valued at $820,000 after acquiring an additional 81,552 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Ranpak by 4.8% during the 1st quarter. Russell Investments Group Ltd. now owns 321,430 shares of the company’s stock valued at $2,530,000 after acquiring an additional 14,833 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Ranpak by 1.1% during the first quarter. Vanguard Group Inc. now owns 2,333,187 shares of the company’s stock worth $18,362,000 after acquiring an additional 25,073 shares in the last quarter. 85.94% of the stock is currently owned by institutional investors and hedge funds.

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.