Robert W. Baird Cuts Ranpak (NYSE:PACK) Price Target to $5.00

Ranpak (NYSE:PACK) had its price target reduced by Robert W. Baird from $7.00 to $5.00 in a report released on Wednesday morning, Marketbeat Ratings reports. Robert W. Baird currently has a neutral rating on the stock.

Separately, Cantor Fitzgerald dropped their price objective on shares of Ranpak from $11.50 to $6.00 and set an “overweight” rating on the stock in a research report on Wednesday.

Ranpak Trading Up 0.9 %

Shares of NYSE:PACK opened at $3.38 on Wednesday. Ranpak has a 52-week low of $2.91 and a 52-week high of $9.04. 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 company has a market capitalization of $282.60 million, a P/E ratio of -14.08 and a beta of 2.79. The company has a 50-day simple moving average of $4.65 and a 200 day simple moving average of $6.20.

Ranpak (NYSE:PACK) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.09). Ranpak had a negative net margin of 5.64% and a negative return on equity of 3.54%. The business had revenue of $91.20 million during the quarter, compared to analyst estimates of $90.56 million. During the same period in the previous year, the business earned ($0.10) earnings per share. The business’s quarterly revenue was up 6.9% on a year-over-year basis. Sell-side analysts forecast that Ranpak will post -0.2 earnings per share for the current year.

Institutional Trading of Ranpak

Hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its holdings in Ranpak by 8.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 33,419 shares of the company’s stock valued at $230,000 after buying an additional 2,513 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Ranpak by 16.9% in the fourth quarter. SG Americas Securities LLC now owns 19,059 shares of the company’s stock valued at $131,000 after acquiring an additional 2,758 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Ranpak by 25.4% in the fourth quarter. BNP Paribas Financial Markets now owns 17,881 shares of the company’s stock valued at $123,000 after acquiring an additional 3,623 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Ranpak by 3.1% in the 1st quarter. Bank of New York Mellon Corp now owns 124,315 shares of the company’s stock worth $674,000 after purchasing an additional 3,731 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in Ranpak by 13.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 40,510 shares of the company’s stock valued at $279,000 after purchasing an additional 4,953 shares during the period. 85.94% of the stock is 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.