Ranpak (NYSE:PACK) Sees Strong Trading Volume - Time to Buy?

Key Points

• Ranpak shares saw a strong trading spike — volume rose about 41% to 743,484 shares, with the stock trading near $6.32 midday versus a $5.91 close.
• Analysts are mixed: MarketBeat shows a consensus of "Hold" with an average price target of $6.83 (three Buys, one Hold, one Sell), and some recent target adjustments such as Craig Hallum cutting its target to $8.
• In the latest quarter Ranpak reported a ($0.12) EPS that missed estimates by $0.01 while revenue beat at $101.2M, leaving negative net margin and sell-side forecasts of about ($0.25) EPS for the year.

Ranpak Holdings Corp (NYSE:PACK - Get Free Report) shares saw strong trading volume on Wednesday . 743,484 shares were traded during mid-day trading, an increase of 41% from the previous session's volume of 528,562 shares.The stock last traded at $6.3180 and had previously closed at $5.91.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. UBS Group reaffirmed an "overweight" rating on shares of Ranpak in a research report on Friday, March 6th. Craig Hallum reduced their price target on shares of Ranpak from $10.00 to $8.00 and set a "buy" rating for the company in a report on Friday, March 6th. Weiss Ratings reissued a "sell (d-)" rating on shares of Ranpak in a report on Tuesday, April 21st. Cantor Fitzgerald reiterated an "overweight" rating on shares of Ranpak in a research note on Friday, March 6th. Finally, Wall Street Zen upgraded Ranpak from a "sell" rating to a "hold" rating in a research note on Saturday. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $6.83.

Ranpak Stock Performance

The firm has a market capitalization of $529.08 million, a price-to-earnings ratio of -14.19 and a beta of 3.06. The firm's 50-day moving average price is $4.05 and its two-hundred day moving average price is $4.90. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.32 and a current ratio of 1.73.

Ranpak (NYSE:PACK - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $101.20 million for the quarter, compared to analyst estimates of $91.59 million. Sell-side analysts predict that Ranpak Holdings Corp will post -0.25 earnings per share for the current year.

Institutional Investors Weigh In On Ranpak

A number of hedge funds have recently made changes to their positions in PACK. Empowered Funds LLC increased its position in shares of Ranpak by 4.2% during the 1st quarter. Empowered Funds LLC now owns 379,061 shares of the company's stock worth $2,055,000 after purchasing an additional 15,184 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Ranpak by 2.9% during the second quarter. Geode Capital Management LLC now owns 1,084,531 shares of the company's stock worth $3,872,000 after buying an additional 30,529 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Ranpak during the second quarter worth approximately $108,000. Gamco Investors INC. ET AL increased its holdings in shares of Ranpak by 27.9% during the second quarter. Gamco Investors INC. ET AL now owns 14,000 shares of the company's stock worth $50,000 after buying an additional 3,050 shares in the last quarter. Finally, Sei Investments Co. acquired a new stake in shares of Ranpak during the second quarter worth approximately $149,000. Institutional investors and hedge funds own 85.94% of the company's stock.

About Ranpak

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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