Ranpak (NYSE:PACK) Given New $7.00 Price Target at Robert W. Baird

Ranpak (NYSE:PACK) had its price target dropped by investment analysts at Robert W. Baird from $10.00 to $7.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Robert W. Baird’s price objective suggests a potential upside of 14.57% from the company’s previous close.

Separately, Baird R W downgraded Ranpak from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 14th.

Ranpak Stock Performance

Shares of NYSE PACK opened at $6.11 on Friday. Ranpak has a one year low of $2.70 and a one year high of $9.04. The company has a current ratio of 2.52, a quick ratio of 2.07 and a debt-to-equity ratio of 0.69. The business has a fifty day simple moving average of $6.32 and a 200 day simple moving average of $6.61. The firm has a market capitalization of $508.47 million, a price-to-earnings ratio of -25.46 and a beta of 2.37.

Ranpak (NYSE:PACK) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). Ranpak had a negative return on equity of 3.53% and a negative net margin of 5.64%. The business had revenue of $92.20 million for the quarter, compared to the consensus estimate of $90.76 million. Ranpak’s revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the business posted ($0.03) earnings per share.

Hedge Funds Weigh In On Ranpak

Several institutional investors have recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new position in shares of Ranpak in the 2nd quarter worth approximately $31,000. Legato Capital Management LLC bought a new stake in shares of Ranpak during the second quarter worth $91,000. SG Americas Securities LLC acquired a new stake in shares of Ranpak in the third quarter valued at $106,000. The Manufacturers Life Insurance Company raised its holdings in shares of Ranpak by 8.8% in the second quarter. The Manufacturers Life Insurance Company now owns 18,098 shares of the company’s stock valued at $116,000 after buying an additional 1,464 shares during the last quarter. Finally, Gabelli Funds LLC acquired a new position in Ranpak during the 2nd quarter worth about $129,000. 85.94% of the stock is owned by institutional investors.

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.