Ranpak (NYSE:PACK) Rating Lowered to Neutral at Robert W. Baird

Ranpak (NYSE:PACK) was downgraded by Robert W. Baird from an “outperform” rating to a “neutral” rating in a research report issued on Wednesday, Marketbeat reports. They presently have a $10.00 price target on the stock. Robert W. Baird’s target price points to a potential upside of 41.44% from the stock’s previous close.

Separately, Craig Hallum reaffirmed a “buy” rating and set a $10.00 target price on shares of Ranpak in a research note on Thursday, June 20th.

Ranpak Stock Up 4.7 %

PACK stock opened at $7.07 on Wednesday. The stock has a market cap of $586.77 million, a PE ratio of -25.25 and a beta of 2.40. The firm’s 50-day simple moving average is $6.74 and its 200 day simple moving average is $6.41. Ranpak has a fifty-two week low of $2.63 and a fifty-two week high of $9.04. 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 (NYSE:PACK) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.13. The company had revenue of $86.40 million for the quarter, compared to analyst estimates of $87.67 million. Ranpak had a negative net margin of 4.41% and a negative return on equity of 2.67%. Ranpak’s revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the business earned ($0.03) earnings per share.

Insiders Place Their Bets

In other news, Director Michael Anthony Jones sold 15,625 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 214,859 shares in the company, valued at $1,377,246.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.40% of the stock is owned by insiders.

Institutional Trading of Ranpak

Several institutional investors have recently modified their holdings of PACK. Innealta Capital LLC acquired a new position in Ranpak during the second quarter worth about $31,000. Tower Research Capital LLC TRC boosted its position in shares of Ranpak by 397.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,500 shares of the company’s stock valued at $61,000 after purchasing an additional 8,390 shares in the last quarter. Legato Capital Management LLC bought a new stake in shares of Ranpak in the 2nd quarter worth approximately $91,000. The Manufacturers Life Insurance Company lifted its stake in Ranpak by 8.8% during the second quarter. The Manufacturers Life Insurance Company now owns 18,098 shares of the company’s stock valued at $116,000 after purchasing an additional 1,464 shares during the last quarter. Finally, Gabelli Funds LLC bought a new stake in Ranpak during the second quarter worth approximately $129,000. Institutional investors and hedge funds 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.