Ranpak (NYSE:PACK) Shares Down 7% – What’s Next?

Shares of Ranpak Holdings Corp. (NYSE:PACK) dropped 7% on Tuesday . The stock traded as low as $6.40 and last traded at $6.40. Approximately 99,823 shares traded hands during mid-day trading, a decline of 40% from the average daily volume of 165,456 shares. The stock had previously closed at $6.88.

Analysts Set New Price Targets

PACK has been the topic of a number of recent analyst reports. Cantor Fitzgerald initiated coverage on Ranpak in a research note on Thursday, December 19th. They issued an “overweight” rating and a $11.50 price objective on the stock. Robert W. Baird reduced 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 Price Performance

The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.36. The business has a 50 day moving average price of $7.18 and a 200-day moving average price of $6.85. The company has a market capitalization of $544.50 million, a price-to-earnings ratio of -27.25 and a beta of 2.41.

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

Institutional Investors Weigh In On Ranpak

Large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its holdings in shares of Ranpak by 34.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,129,802 shares of the company’s stock valued at $13,694,000 after purchasing an additional 542,464 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Ranpak by 185.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 363,815 shares of the company’s stock worth $2,376,000 after buying an additional 236,398 shares in the last quarter. Meros Investment Management LP grew its holdings in shares of Ranpak by 32.6% in the second 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 in the last quarter. AQR Capital Management LLC purchased a new stake in shares of Ranpak during the second quarter valued at approximately $1,178,000. Finally, State Street Corp lifted its holdings in Ranpak by 15.2% during the third quarter. State Street Corp now owns 1,133,277 shares of the company’s stock worth $7,400,000 after acquiring an additional 149,446 shares during the period. 85.94% of the stock is currently owned by institutional investors and hedge funds.

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.