Ranpak (NYSE:PACK) Shares Gap Up – Here’s What Happened

Ranpak Holdings Corp. (NYSE:PACK) shares gapped up prior to trading on Wednesday . The stock had previously closed at $5.74, but opened at $7.01. Ranpak shares last traded at $7.53, with a volume of 5,803,312 shares trading hands.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Cantor Fitzgerald initiated coverage on shares of Ranpak in a report on Thursday, December 19th. They set an “overweight” rating and a $11.50 target price for the company. Robert W. Baird dropped their price target on Ranpak from $10.00 to $7.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st.

Ranpak Stock Up 31.8 %

The firm has a 50-day simple moving average of $7.08 and a 200 day simple moving average of $6.84. The stock has a market capitalization of $629.95 million, a P/E ratio of -31.40 and a beta of 2.41. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.36 and a quick ratio of 2.01.

Ranpak (NYSE:PACK) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). Ranpak had a negative return on equity of 3.54% and a negative net margin of 5.64%. The company had revenue of $92.20 million for the quarter, compared to the consensus estimate of $90.76 million. During the same quarter last year, the business earned ($0.03) earnings per share. Ranpak’s revenue was up 11.4% compared to the same quarter last year. On average, equities research analysts forecast that Ranpak Holdings Corp. will post -0.2 EPS for the current year.

Institutional Trading of Ranpak

Several large investors have recently made changes to their positions in PACK. American Century Companies Inc. raised its position in Ranpak by 56.2% in the 2nd quarter. American Century Companies Inc. now owns 52,033 shares of the company’s stock valued at $335,000 after buying an additional 18,731 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of 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 acquiring an additional 542,464 shares during the period. Cubist Systematic Strategies LLC purchased a new position in Ranpak in the 2nd quarter valued at approximately $713,000. Squarepoint Ops LLC grew its position in shares of Ranpak by 146.8% in 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 in the last quarter. Finally, AQR Capital Management LLC bought a new stake in shares of Ranpak during the second quarter valued at about $1,178,000. 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.