Robert W. Baird Increases Ranpak (NYSE:PACK) Price Target to $8.00

Ranpak (NYSE:PACK - Free Report) had its price target raised by Robert W. Baird from $7.00 to $8.00 in a research report sent to investors on Friday, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Separately, Craig Hallum increased their price target on shares of Ranpak from $8.00 to $10.00 and gave the company a buy rating in a research report on Monday, April 1st.

Ranpak Price Performance

Ranpak stock traded up $0.17 during mid-day trading on Friday, reaching $6.73. The company had a trading volume of 437,281 shares, compared to its average volume of 669,988. Ranpak has a 1 year low of $2.63 and a 1 year high of $8.29. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.60 and a quick ratio of 2.24. The company has a market capitalization of $556.03 million, a P/E ratio of -19.67 and a beta of 2.31. The stock's 50-day simple moving average is $6.75 and its 200-day simple moving average is $5.20.

Ranpak (NYSE:PACK - Get Free Report) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.04). The business had revenue of $85.30 million during the quarter, compared to analyst estimates of $85.50 million. Ranpak had a negative net margin of 8.06% and a negative return on equity of 4.63%. The company's revenue was up 5.0% compared to the same quarter last year.

Institutional Trading of Ranpak

Hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in shares of Ranpak in the 3rd quarter valued at $107,000. Roubaix Capital LLC increased its stake in Ranpak by 1.0% during the 3rd quarter. Roubaix Capital LLC now owns 423,662 shares of the company's stock worth $2,305,000 after buying an additional 4,043 shares during the period. Simplex Trading LLC increased its stake in Ranpak by 827.6% during the 3rd quarter. Simplex Trading LLC now owns 11,827 shares of the company's stock worth $64,000 after buying an additional 10,552 shares during the period. Group One Trading L.P. purchased a new stake in Ranpak during the 3rd quarter worth $54,000. Finally, Westfield Capital Management Co. LP increased its stake in Ranpak by 10.0% during the 3rd quarter. Westfield Capital Management Co. LP now owns 442,450 shares of the company's stock worth $2,407,000 after buying an additional 40,250 shares during the period. 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.