Ranpak (NYSE:PACK) Coverage Initiated by Analysts at Cantor Fitzgerald

Cantor Fitzgerald began coverage on shares of Ranpak (NYSE:PACK) in a research note released on Thursday, Marketbeat reports. The brokerage issued an overweight rating and a $11.50 price objective on the stock.

Separately, Robert W. Baird reduced their target price on shares of Ranpak from $10.00 to $7.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st.

Ranpak Stock Performance

PACK traded down $0.02 during trading hours on Thursday, hitting $7.12. The stock had a trading volume of 53,061 shares, compared to its average volume of 439,700. Ranpak has a 1 year low of $3.85 and a 1 year high of $9.04. The stock has a market cap of $592.79 million, a PE ratio of -29.67 and a beta of 2.42. The company has a quick ratio of 2.01, a current ratio of 2.36 and a debt-to-equity ratio of 0.71. The company’s fifty day simple moving average is $6.96 and its 200 day simple moving average is $6.74.

Ranpak (NYSE:PACK) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The business had revenue of $92.20 million for the quarter, compared to analysts’ expectations of $90.76 million. Ranpak had a negative return on equity of 3.54% and a negative net margin of 5.64%. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.03) EPS.

Institutional Trading of Ranpak

Hedge funds have recently added to or reduced their stakes in the business. Meros Investment Management LP boosted its holdings in shares of Ranpak by 32.6% in the 2nd quarter. Meros Investment Management LP now owns 943,729 shares of the company’s stock valued at $6,068,000 after acquiring an additional 231,779 shares during the last quarter. Verition Fund Management LLC acquired a new stake in shares of Ranpak in the third quarter valued at approximately $222,000. Cubist Systematic Strategies LLC acquired a new position in shares of Ranpak during the 2nd quarter valued at about $713,000. Los Angeles Capital Management LLC raised its position in shares of Ranpak by 177.4% during the 2nd quarter. Los Angeles Capital Management LLC now owns 127,512 shares of the company’s stock valued at $820,000 after buying an additional 81,552 shares during the period. Finally, American Century Companies Inc. lifted its stake in shares of Ranpak by 56.2% in the 2nd quarter. American Century Companies Inc. now owns 52,033 shares of the company’s stock valued at $335,000 after purchasing an additional 18,731 shares during the last quarter. 85.94% of the stock is owned by hedge funds and other institutional investors.

About Ranpak

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.