Cantor Fitzgerald Begins Coverage on Ranpak (NYSE:PACK)

Investment analysts at Cantor Fitzgerald assumed coverage on shares of Ranpak (NYSE:PACK) in a research note issued to investors on Thursday, MarketBeat.com reports. The firm set an “overweight” rating and a $11.50 price target on the stock. Cantor Fitzgerald’s target price would suggest a potential upside of 61.29% from the stock’s previous close.

Separately, Robert W. Baird dropped their price objective on Ranpak from $10.00 to $7.00 and set a “neutral” rating for the company in a report on Friday, November 1st.

Ranpak Stock Down 0.1 %

Shares of NYSE PACK opened at $7.13 on Thursday. The company has a current ratio of 2.36, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $593.62 million, a PE ratio of -29.71 and a beta of 2.42. The firm’s 50-day moving average is $6.98 and its 200-day moving average is $6.75. Ranpak has a 1 year low of $3.85 and a 1 year high of $9.04.

Ranpak (NYSE:PACK) last released its earnings results on Thursday, October 31st. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The business had revenue of $92.20 million for the quarter, compared to analyst estimates of $90.76 million. Ranpak had a negative return on equity of 3.54% and a negative net margin of 5.64%. Ranpak’s revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.03) EPS.

Institutional Trading of Ranpak

Several hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its holdings in shares of Ranpak by 34.2% in the second 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 in the last quarter. Meros Investment Management LP raised its holdings in Ranpak by 32.6% during the 2nd quarter. Meros Investment Management LP now owns 943,729 shares of the company’s stock worth $6,068,000 after buying an additional 231,779 shares during the period. AQR Capital Management LLC bought a new position in Ranpak in the second quarter valued at approximately $1,178,000. State Street Corp boosted its holdings in shares of Ranpak by 15.2% in the third quarter. State Street Corp now owns 1,133,277 shares of the company’s stock valued at $7,400,000 after buying an additional 149,446 shares during the period. Finally, Squarepoint Ops LLC increased its position in shares of Ranpak by 146.8% during the second quarter. Squarepoint Ops LLC now owns 226,834 shares of the company’s stock worth $1,459,000 after acquiring an additional 134,910 shares in the last quarter. 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.