Ranpak (NYSE:PACK) Releases Quarterly Earnings Results, Beats Expectations By $0.13 EPS

Ranpak (NYSE:PACK) posted its quarterly earnings data on Thursday. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.13, Briefing.com reports. Ranpak had a negative net margin of 4.41% and a negative return on equity of 2.67%. The company had revenue of $86.40 million during the quarter, compared to analysts’ expectations of $87.67 million. During the same period in the prior year, the company posted ($0.03) earnings per share. Ranpak’s revenue for the quarter was up 5.5% compared to the same quarter last year.

Ranpak Stock Down 8.6 %

NYSE:PACK traded down $0.73 during trading hours on Friday, reaching $7.76. The company had a trading volume of 718,765 shares, compared to its average volume of 361,067. The company has a quick ratio of 2.06, a current ratio of 2.44 and a debt-to-equity ratio of 0.70. The firm has a market cap of $644.03 million, a price-to-earnings ratio of -27.71 and a beta of 2.40. The business’s 50-day simple moving average is $6.53 and its two-hundred day simple moving average is $6.26. Ranpak has a twelve month low of $2.63 and a twelve month high of $9.04.

Analyst Upgrades and Downgrades

PACK has been the subject of several recent analyst reports. Craig Hallum reiterated a “buy” rating and set a $10.00 price objective on shares of Ranpak in a research report on Thursday, June 20th. Robert W. Baird raised their price target on shares of Ranpak from $8.00 to $10.00 and gave the stock an “outperform” rating in a report on Friday.

Insiders Place Their Bets

In other Ranpak news, Director Michael Anthony Jones sold 15,625 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $6.41, for a total value of $100,156.25. Following the completion of the sale, the director now directly owns 214,859 shares in the company, valued at $1,377,246.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 8.40% 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.