Ranpak (NYSE:PACK) Shares Down 4.4% – What’s Next?

Ranpak Holdings Corp. (NYSE:PACK) traded down 4.4% on Thursday . The stock traded as low as $8.25 and last traded at $8.06. 435,851 shares changed hands during trading, a decline of 55% from the average session volume of 967,664 shares. The stock had previously closed at $8.43.

Wall Street Analyst Weigh In

PACK has been the topic of a number of research analyst reports. Cantor Fitzgerald assumed coverage on Ranpak in a report on Thursday, December 19th. They issued an “overweight” rating and a $11.50 target price on the stock. Robert W. Baird lowered their price objective on shares of Ranpak from $10.00 to $7.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st.

Ranpak Stock Down 3.9 %

The firm has a 50 day moving average of $7.11 and a 200-day moving average of $6.85. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.36 and a quick ratio of 2.01. The stock has a market capitalization of $609.88 million, a P/E ratio of -30.52 and a beta of 2.41.

Ranpak (NYSE:PACK) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.10) earnings per share (EPS) 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 business had revenue of $92.20 million during the quarter, compared to analyst estimates of $90.76 million. During the same quarter in the prior year, the company posted ($0.03) EPS. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. On average, equities research analysts expect that Ranpak Holdings Corp. will post -0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company raised its holdings in shares of Ranpak by 8.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,098 shares of the company’s stock worth $116,000 after buying an additional 1,464 shares in the last quarter. SG Americas Securities LLC raised its stake in Ranpak by 16.9% during the fourth quarter. SG Americas Securities LLC now owns 19,059 shares of the company’s stock worth $131,000 after acquiring an additional 2,758 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Ranpak by 27.6% during the third quarter. BNP Paribas Financial Markets now owns 14,258 shares of the company’s stock valued at $93,000 after acquiring an additional 3,087 shares during the period. Franklin Resources Inc. boosted its stake in shares of Ranpak by 15.6% in the 3rd quarter. Franklin Resources Inc. now owns 28,900 shares of the company’s stock valued at $183,000 after purchasing an additional 3,909 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its stake in shares of Ranpak by 1.8% in the 3rd quarter. GSA Capital Partners LLP now owns 289,721 shares of the company’s stock valued at $1,892,000 after purchasing an additional 5,254 shares in the last quarter. 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.