Ranpak Holdings Corp (NYSE:PACK) Receives $6.83 Average Price Target from Brokerages
by Doug Wharley · The Cerbat GemShares of Ranpak Holdings Corp (NYSE:PACK – Get Free Report) have been given a consensus rating of “Hold” by the five brokerages that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $6.8333.
A number of research analysts have recently weighed in on the company. UBS Group restated an “overweight” rating on shares of Ranpak in a research report on Friday, March 6th. Wall Street Zen upgraded Ranpak from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings restated a “sell (d-)” rating on shares of Ranpak in a research report on Tuesday, April 21st. Craig Hallum cut their price objective on Ranpak from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, March 6th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Ranpak in a research report on Friday, March 6th.
Get Our Latest Stock Report on PACK
Ranpak Trading Up 9.9%
Shares of PACK stock opened at $5.60 on Friday. Ranpak has a 52-week low of $2.91 and a 52-week high of $6.31. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.47 and a current ratio of 1.83. The firm has a market capitalization of $474.01 million, a PE ratio of -12.43 and a beta of 3.06. The stock has a fifty day simple moving average of $4.04 and a two-hundred day simple moving average of $4.91.
Ranpak (NYSE:PACK – Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.01). The firm had revenue of $101.20 million for the quarter, compared to analysts’ expectations of $91.59 million. Ranpak had a negative net margin of 9.28% and a negative return on equity of 7.00%. On average, analysts predict that Ranpak will post -0.27 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in PACK. Royce & Associates LP purchased a new position in Ranpak in the third quarter worth about $2,529,000. Bastion Asset Management Inc. purchased a new position in Ranpak in the third quarter worth about $3,201,000. Divisadero Street Capital Management LP grew its position in Ranpak by 150.0% in the third quarter. Divisadero Street Capital Management LP now owns 250,001 shares of the company’s stock worth $1,405,000 after acquiring an additional 150,000 shares in the last quarter. First Eagle Investment Management LLC purchased a new position in Ranpak in the third quarter worth about $1,027,000. Finally, Simcoe Capital LLC purchased a new position in Ranpak in the fourth quarter worth about $2,913,000. Hedge funds and other institutional investors own 85.94% of the company’s stock.
About Ranpak
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.