Ranpak (NYSE:PACK) Stock Price Down 1.4% - Here's Why

Key Points

• Ranpak shares fell 1.4% to $3.915, with trading volume 25% above its daily average. The stock remains below its 50-day and 200-day moving averages of $4.65 and $5.38, respectively.
• Analysts maintain a mixed outlook: three rate Ranpak a Buy and one a Sell, resulting in a “Moderate Buy” consensus and a $7.00 average price target. Weiss Ratings separately reiterated a “sell (D-)” rating.
• Ranpak missed quarterly EPS expectations, reporting a loss of $0.09 per share versus the expected $0.08 loss, despite revenue of $105.2 million exceeding estimates. The company posted negative net margin and return on equity, while institutional investors own 85.94% of its shares.

Ranpak Holdings Corp (NYSE:PACK - Get Free Report)'s stock price dropped 1.4% during trading on Wednesday. The company traded as low as $3.81 and last traded at $3.9150. 659,319 shares changed hands during trading, an increase of 25% from the average daily volume of 527,890 shares. The stock had previously closed at $3.97.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of Ranpak in a report on Friday, July 17th. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $7.00.

Ranpak Stock Performance

The stock's 50-day moving average price is $4.65 and its 200-day moving average price is $5.38. The company has a current ratio of 1.79, a quick ratio of 1.39 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $335.75 million, a P/E ratio of -8.90 and a beta of 3.14.

Ranpak (NYSE:PACK - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($0.09) earnings per share for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.01). Ranpak had a negative net margin of 9.09% and a negative return on equity of 7.18%. The business had revenue of $105.20 million for the quarter, compared to the consensus estimate of $100.94 million. As a group, equities analysts expect that Ranpak Holdings Corp will post -0.32 EPS for the current year.

Institutional Trading of Ranpak

A number of institutional investors and hedge funds have recently made changes to their positions in PACK. JS Capital Management LLC acquired a new position in Ranpak during the 2nd quarter valued at approximately $223,180,857. Sei Investments Co. increased its position in Ranpak by 538.5% in the first quarter. Sei Investments Co. now owns 120,751 shares of the company's stock worth $431,000 after buying an additional 101,840 shares during the period. Bank of New York Mellon Corp acquired a new stake in Ranpak in the second quarter worth $1,045,000. Dimensional Fund Advisors LP lifted its stake in Ranpak by 3.5% in the first quarter. Dimensional Fund Advisors LP now owns 3,045,306 shares of the company's stock valued at $10,871,000 after buying an additional 102,942 shares during the last quarter. Finally, Sequoia Financial Advisors LLC bought a new stake in Ranpak in the second quarter valued at $116,000. 85.94% of the stock is currently owned by institutional investors and hedge funds.

Ranpak Company Profile

Ranpak Holdings Corp. NYSE: PACK is a provider of sustainable, paper-based packaging solutions designed to protect products during shipping, handling and storage. The company develops and manufactures packaging systems and materials that serve as alternatives to plastic-based protective packaging.

Its product portfolio includes paper cushioning, wrapping and void-fill solutions, as well as dispensing equipment and automated packaging systems. Ranpak's offerings include products marketed under brands such as PadPak, FillPak, WrapPak and Geami, which are used to cushion items, fill empty space in shipping containers and wrap products for protection.

Ranpak serves customers across e-commerce, retail, industrial manufacturing, food and beverage, automotive, healthcare and other markets.

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