Craig Hallum Reaffirms “Buy” Rating for Ranpak (NYSE:PACK)

Craig Hallum reissued their buy rating on shares of Ranpak (NYSE:PACKFree Report) in a report released on Thursday morning, Benzinga reports. The brokerage currently has a $10.00 price objective on the stock.

Separately, Robert W. Baird upped their target price on shares of Ranpak from $7.00 to $8.00 and gave the company an outperform rating in a research report on Friday, May 3rd.

Read Our Latest Stock Analysis on PACK

Ranpak Stock Down 4.8 %

PACK opened at $6.18 on Thursday. The firm has a 50-day simple moving average of $6.58 and a two-hundred day simple moving average of $5.89. Ranpak has a 52 week low of $2.63 and a 52 week high of $8.29. The company has a market capitalization of $512.90 million, a PE ratio of -22.07 and a beta of 2.31. The company has a quick ratio of 2.06, a current ratio of 2.44 and a debt-to-equity ratio of 0.70.

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

Insider Activity

In related news, Director Michael Anthony Jones sold 15,625 shares of the 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 sale, the director now directly owns 214,859 shares of the company’s stock, valued at approximately $1,377,246.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.40% of the company’s stock.

Institutional Trading of Ranpak

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. G2 Investment Partners Management LLC raised its position in Ranpak by 102.5% in the 4th quarter. G2 Investment Partners Management LLC now owns 1,863,540 shares of the company’s stock worth $10,846,000 after purchasing an additional 943,210 shares during the period. Tower Research Capital LLC TRC increased its position in shares of Ranpak by 397.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,500 shares of the company’s stock worth $61,000 after acquiring an additional 8,390 shares during the period. Westfield Capital Management Co. LP increased its position in shares of Ranpak by 10.0% during the third quarter. Westfield Capital Management Co. LP now owns 442,450 shares of the company’s stock worth $2,407,000 after acquiring an additional 40,250 shares during the period. Kennedy Capital Management LLC increased its position in shares of Ranpak by 11.2% during the third quarter. Kennedy Capital Management LLC now owns 495,522 shares of the company’s stock worth $2,696,000 after acquiring an additional 49,915 shares during the period. Finally, Russell Investments Group Ltd. increased its position in shares of Ranpak by 4.2% during the fourth quarter. Russell Investments Group Ltd. now owns 306,597 shares of the company’s stock worth $1,784,000 after acquiring an additional 12,490 shares during the period. 85.94% of the stock is owned by hedge funds and other institutional investors.

Ranpak Company Profile

(Get Free Report)

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.

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