Ranpak (NYSE:PACK) Stock Price Up 4.6% – Here’s Why

Ranpak Holdings Corp. (NYSE:PACK) rose 4.6% during trading on Tuesday . The stock traded as high as $8.41 and last traded at $8.37. Approximately 102,585 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 445,961 shares. The stock had previously closed at $8.00.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PACK shares. Robert W. Baird dropped 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. Baird R W downgraded Ranpak from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 14th.

Ranpak Stock 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 stock’s fifty day moving average is $6.70 and its two-hundred day moving average is $6.67. The firm has a market cap of $677.71 million, a price-to-earnings ratio of -33.33 and a beta of 2.42.

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

Hedge Funds Weigh In On Ranpak

Several hedge funds have recently made changes to their positions in PACK. Vanguard Group Inc. lifted its stake in Ranpak by 1.1% during the first quarter. Vanguard Group Inc. now owns 2,333,187 shares of the company’s stock valued at $18,362,000 after buying an additional 25,073 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Ranpak by 34.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,129,802 shares of the company’s stock worth $13,694,000 after purchasing an additional 542,464 shares in the last quarter. State Street Corp raised its stake in Ranpak by 15.2% during the 3rd quarter. State Street Corp now owns 1,133,277 shares of the company’s stock valued at $7,400,000 after purchasing an additional 149,446 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Ranpak by 4.2% in the third quarter. Geode Capital Management LLC now owns 990,835 shares of the company’s stock valued at $6,471,000 after purchasing an additional 40,049 shares in the last quarter. Finally, Meros Investment Management LP boosted its position 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 worth $6,068,000 after buying an additional 231,779 shares during the period. Institutional investors and hedge funds own 85.94% of the company’s stock.

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.