Ranpak (NYSE:PACK) Hits New 1-Year High - Time to Buy?

Key Points

• Ranpak hit a new 52-week high, trading as high as $6.50 (last $6.2450) with volume ~1.57M shares and a mid-day gain of about 5.7%.
• Analyst mix but slight bullish tilt: three Buy ratings and one Sell leave an average MarketBeat rating of "Moderate Buy" with an average price target of $6.83.
• Weak near-term fundamentals: the company reported a quarterly EPS of -$0.12 (miss), revenue of $101.2M (beat), negative net margin and ROE, market cap ~$529M, and analysts forecast ~-0.25 EPS for the year.

Ranpak Holdings Corp (NYSE:PACK - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $6.50 and last traded at $6.2450, with a volume of 1569053 shares traded. The stock had previously closed at $5.91.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PACK. Cantor Fitzgerald reissued an "overweight" rating on shares of Ranpak in a research note on Friday, March 6th. Weiss Ratings reissued a "sell (d-)" rating on shares of Ranpak in a research note on Tuesday, April 21st. UBS Group reissued an "overweight" rating on shares of Ranpak in a research note on Friday, March 6th. Craig Hallum reduced their price objective on shares of Ranpak from $10.00 to $8.00 and set a "buy" rating for the company in a research note on Friday, March 6th. Finally, Wall Street Zen raised shares of Ranpak from a "sell" rating to a "hold" rating in a research note on Saturday, May 2nd. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $6.83.

Ranpak Stock Up 5.7%

The company has a market capitalization of $529.08 million, a PE ratio of -14.19 and a beta of 3.06. The company's 50 day moving average is $4.07 and its two-hundred day moving average is $4.91. The company has a quick ratio of 1.32, a current ratio of 1.73 and a debt-to-equity ratio of 0.76.

Ranpak (NYSE:PACK - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.01). Ranpak had a negative net margin of 9.28% and a negative return on equity of 7.04%. The business had revenue of $101.20 million for the quarter, compared to the consensus estimate of $91.59 million. On average, analysts anticipate that Ranpak Holdings Corp will post -0.25 earnings per share for the current year.

Hedge Funds Weigh In On Ranpak

Institutional investors have recently bought and sold shares of the business. Ballast Inc. bought a new position in Ranpak during the third quarter valued at $56,000. Dynamic Technology Lab Private Ltd bought a new position in Ranpak during the fourth quarter valued at $55,000. Quantbot Technologies LP bought a new position in Ranpak during the third quarter valued at $58,000. nVerses Capital LLC bought a new position in Ranpak during the fourth quarter valued at $58,000. Finally, Corient Private Wealth LLC bought a new position in Ranpak during the fourth quarter valued at $59,000. Institutional investors own 85.94% of the company's stock.

Ranpak Company Profile

Ranpak Holdings Corp. NYSE: PACK is a leading provider of sustainable, paper-based packaging solutions designed to protect products during transit. The company's core business centers on the design, manufacture and distribution of automated systems and consumable paper packaging materials that offer an eco-friendly alternative to plastic-based void-fill and protective packaging. Ranpak's solutions include crumpled paper fillers, paper wrap systems and tailored automation equipment that serve diverse end markets such as e-commerce, industrial parts, electronics and retail.

Founded in 1972 and headquartered in Concord Township, Ohio, Ranpak has built a global presence by combining innovation in paper converting technology with a commitment to sustainability.

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