Cantor Fitzgerald Has Lowered Expectations for Ranpak (NYSE:PACK) Stock Price

Ranpak (NYSE:PACK - Get Free Report) had its price objective decreased by analysts at Cantor Fitzgerald from $11.50 to $6.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Cantor Fitzgerald's target price points to a potential upside of 102.91% from the company's previous close.

Ranpak Stock Performance

Shares of PACK stock traded down $0.05 during trading on Wednesday, reaching $2.96. 168,547 shares of the company's stock traded hands, compared to its average volume of 427,464. The firm's 50-day moving average is $4.85 and its 200 day moving average is $6.26. The company has a market capitalization of $247.23 million, a P/E ratio of -12.31 and a beta of 2.79. Ranpak has a 1 year low of $2.91 and a 1 year high of $9.04. The company has a current ratio of 2.36, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71.

Ranpak (NYSE:PACK - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.09). Ranpak had a negative return on equity of 3.54% and a negative net margin of 5.64%. The company had revenue of $91.20 million during the quarter, compared to the consensus estimate of $90.56 million. During the same period in the previous year, the business earned ($0.10) earnings per share. Ranpak's revenue was up 6.9% on a year-over-year basis. Equities research analysts expect that Ranpak will post -0.2 EPS for the current year.

Hedge Funds Weigh In On Ranpak

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC grew its position in Ranpak by 1,601.2% during the first quarter. GAMMA Investing LLC now owns 5,631 shares of the company's stock valued at $31,000 after acquiring an additional 5,300 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Ranpak in the 4th quarter valued at about $42,000. Two Sigma Securities LLC bought a new position in Ranpak during the 4th quarter worth approximately $70,000. Susquehanna Fundamental Investments LLC bought a new stake in Ranpak in the fourth quarter valued at approximately $71,000. Finally, ProShare Advisors LLC bought a new stake in Ranpak during the 4th quarter valued at $83,000. Hedge funds and other institutional investors 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.

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