Ranpak (NYSE:PACK) Price Target Raised to $8.00

Ranpak (NYSE:PACK) had its price objective lifted by Robert W. Baird from $7.00 to $8.00 in a research report released on Friday morning, Benzinga reports. They currently have an outperform rating on the stock.

Separately, Craig Hallum raised their target price on shares of Ranpak from $8.00 to $10.00 and gave the company a buy rating in a research report on Monday, April 1st.

Ranpak Price Performance

Shares of PACK stock traded up $0.05 during trading hours on Friday, reaching $6.78. The company’s stock had a trading volume of 451,015 shares, compared to its average volume of 666,180. The company has a quick ratio of 2.06, a current ratio of 2.44 and a debt-to-equity ratio of 0.70. Ranpak has a fifty-two week low of $2.63 and a fifty-two week high of $8.29. The company has a market capitalization of $560.16 million, a price-to-earnings ratio of -24.03 and a beta of 2.31. The firm’s 50 day simple moving average is $6.79 and its 200-day simple moving average is $5.23.

Ranpak (NYSE:PACK) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.04). The business had revenue of $85.30 million during the quarter, compared to analyst estimates of $85.50 million. Ranpak had a negative net margin of 6.70% and a negative return on equity of 3.97%. The firm’s revenue was up 5.0% compared to the same quarter last year.

Institutional Trading of Ranpak

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Roubaix Capital LLC grew its holdings in Ranpak by 1.0% during the 3rd quarter. Roubaix Capital LLC now owns 423,662 shares of the company’s stock worth $2,305,000 after acquiring an additional 4,043 shares during the last quarter. SG Americas Securities LLC increased its holdings in Ranpak by 38.2% in the fourth quarter. SG Americas Securities LLC now owns 27,079 shares of the company’s stock valued at $158,000 after purchasing an additional 7,488 shares during the period. Tower Research Capital LLC TRC raised its position in Ranpak by 397.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,500 shares of the company’s stock worth $61,000 after purchasing an additional 8,390 shares during the last quarter. Group One Trading L.P. acquired a new position in Ranpak during the 3rd quarter worth about $54,000. Finally, Simplex Trading LLC grew its position in shares of Ranpak by 827.6% in the 3rd quarter. Simplex Trading LLC now owns 11,827 shares of the company’s stock valued at $64,000 after buying an additional 10,552 shares during the last quarter. 85.94% of the stock is currently owned by 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.