Ranpak (NYSE:PACK) Reaches New 1-Year High – What’s Next?

Ranpak Holdings Corp (NYSE:PACK) shares reached a new 52-week high on Tuesday . The stock traded as high as $6.67 and last traded at $6.62, with a volume of 487872 shares changing hands. The stock had previously closed at $6.28.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PACK. UBS Group restated an “overweight” rating on shares of Ranpak in a research note on Friday, March 6th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Ranpak in a report on Friday, March 6th. Wall Street Zen raised Ranpak from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Craig Hallum decreased their price objective on Ranpak from $10.00 to $8.00 and set a “buy” rating for the company in a report on Friday, March 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ranpak in a research report on Tuesday, April 21st. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.83.

Ranpak Trading Up 6.1%

The company has a quick ratio of 1.32, a current ratio of 1.73 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $569.70 million, a P/E ratio of -15.14 and a beta of 3.06. The firm’s 50-day moving average price is $4.48 and its 200 day moving average price is $4.98.

Ranpak (NYSE:PACK) last announced its quarterly earnings results on Thursday, April 30th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.01). The business had revenue of $101.20 million during the quarter, compared to the consensus estimate of $91.59 million. Ranpak had a negative net margin of 9.28% and a negative return on equity of 7.04%. As a group, equities research analysts predict that Ranpak Holdings Corp will post -0.25 earnings per share for the current year.

Institutional Investors Weigh In On Ranpak

Several institutional investors have recently bought and sold shares of PACK. MQS Management LLC purchased a new stake in Ranpak in the 1st quarter valued at $47,000. Engineers Gate Manager LP purchased a new position in Ranpak during the 2nd quarter worth $49,000. Gamco Investors INC. ET AL grew its stake in shares of Ranpak by 27.9% in the 2nd quarter. Gamco Investors INC. ET AL now owns 14,000 shares of the company’s stock worth $50,000 after acquiring an additional 3,050 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Ranpak in the 4th quarter worth $55,000. Finally, Ballast Inc. purchased a new stake in shares of Ranpak in the third quarter valued at about $56,000. Institutional investors own 85.94% of the company’s stock.

Ranpak Company Profile

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.