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

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

Analysts Set New Price Targets

A number of brokerages have weighed in on PACK. Robert W. Baird cut their price objective on shares of Ranpak from $10.00 to $7.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Cantor Fitzgerald assumed coverage on Ranpak in a research report on Thursday, December 19th. They set an “overweight” rating and a $11.50 price objective for the company.

Ranpak Stock Performance

The company has a current ratio of 2.36, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $641.93 million, a P/E ratio of -32.07 and a beta of 2.41. The business’s 50 day simple moving average is $7.11 and its two-hundred day simple moving average is $6.85.

Ranpak (NYSE:PACK) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $92.20 million for the quarter, compared to the consensus estimate of $90.76 million. During the same period last year, the business earned ($0.03) EPS. Ranpak’s revenue was up 11.4% on a year-over-year basis. Sell-side analysts anticipate that Ranpak Holdings Corp. will post -0.2 EPS for the current fiscal year.

Institutional Trading of Ranpak

A number of institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its stake in shares of Ranpak by 34.2% in 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 during the period. JPMorgan Chase & Co. boosted its stake 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 acquiring an additional 236,398 shares during the last quarter. AQR Capital Management LLC purchased a new stake in shares of Ranpak in the 2nd quarter worth $1,178,000. State Street Corp raised its holdings in Ranpak by 15.2% in the 3rd quarter. State Street Corp now owns 1,133,277 shares of the company’s stock worth $7,400,000 after purchasing an additional 149,446 shares during the period. Finally, Squarepoint Ops LLC grew its holdings in Ranpak by 146.8% during the second quarter. Squarepoint Ops LLC now owns 226,834 shares of the company’s stock valued at $1,459,000 after purchasing an additional 134,910 shares during the period. 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.