Ranpak (NYSE:PACK) Price Target Cut to $6.00 by Analysts at Cantor Fitzgerald

Ranpak (NYSE:PACK - Get Free Report) had its price objective dropped by stock analysts at Cantor Fitzgerald from $11.50 to $6.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Cantor Fitzgerald's price target would indicate a potential upside of 60.17% from the company's previous close.

Ranpak Stock Up 10.5%

Shares of Ranpak stock traded up $0.36 during trading hours on Wednesday, hitting $3.75. 587,581 shares of the company's stock traded hands, compared to its average volume of 435,276. The stock has a 50 day simple moving average of $4.65 and a 200-day simple moving average of $6.21. The company has a quick ratio of 2.01, a current ratio of 2.36 and a debt-to-equity ratio of 0.71. The company has a market cap of $313.20 million, a PE ratio of -15.65 and a beta of 2.79. Ranpak has a twelve month low of $2.91 and a twelve month high of $9.04.

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 firm had revenue of $91.20 million during the quarter, compared to analyst estimates of $90.56 million. During the same quarter last year, the business posted ($0.10) earnings per share. The firm's revenue for the quarter was up 6.9% on a year-over-year basis. Equities research analysts anticipate that Ranpak will post -0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ranpak

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in shares of Ranpak by 1,601.2% in the first quarter. GAMMA Investing LLC now owns 5,631 shares of the company's stock valued at $31,000 after buying an additional 5,300 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Ranpak during the 4th quarter worth approximately $42,000. Two Sigma Securities LLC purchased a new position in Ranpak during the 4th quarter worth approximately $70,000. Susquehanna Fundamental Investments LLC purchased a new position in Ranpak during the 4th quarter worth approximately $71,000. Finally, ProShare Advisors LLC purchased a new position in Ranpak during the 4th quarter worth approximately $83,000. Institutional investors own 85.94% of the company's stock.

About Ranpak

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.