Ranpak (NYSE:PACK) Shares Up 6.9% - Here's Why

Key Points

• Ranpak shares rose 6.9% in mid-day trading, reaching as high as $7.01 after closing at $6.56 the previous day, though volume was far below average.
• Analyst sentiment is mixed but leans positive: Wall Street Zen upgraded the stock to hold, Weiss Ratings reiterated a sell, and the overall consensus remains a “Moderate Buy” with an average target price of $6.83.
• Recent results were mixed, with Ranpak missing EPS estimates by one cent but beating revenue expectations for the quarter; analysts still expect the company to post a full-year loss.

Ranpak Holdings Corp (NYSE:PACK - Get Free Report) shares rose 6.9% during mid-day trading on Wednesday . The stock traded as high as $7.01 and last traded at $7.0150. Approximately 16,864 shares were traded during mid-day trading, a decline of 97% from the average session volume of 539,825 shares. The stock had previously closed at $6.56.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PACK shares. Wall Street Zen raised shares of Ranpak from a "sell" rating to a "hold" rating in a research note on Saturday, May 2nd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Ranpak in a research note on Friday. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $6.83.

Ranpak Stock Performance

The business's fifty day simple moving average is $6.80 and its 200-day simple moving average is $5.50. The firm has a market cap of $603.43 million, a P/E ratio of -15.94 and a beta of 3.11. The company has a current ratio of 1.73, a quick ratio of 1.32 and a debt-to-equity ratio of 0.76.

Ranpak (NYSE:PACK - Get Free Report) last posted its earnings results 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). The firm had revenue of $101.20 million for the quarter, compared to analysts' expectations of $91.59 million. Ranpak had a negative return on equity of 7.04% and a negative net margin of 9.28%. As a group, sell-side analysts expect that Ranpak Holdings Corp will post -0.25 earnings per share for the current year.

Institutional Investors Weigh In On Ranpak

Several institutional investors and hedge funds have recently bought and sold shares of PACK. Dimensional Fund Advisors LP increased its stake in shares of Ranpak by 3.5% during 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 period. Schusterman Interests LLC raised its holdings in shares of Ranpak by 2,995.5% during the third quarter. Schusterman Interests LLC now owns 3,018,616 shares of the company's stock valued at $16,965,000 after acquiring an additional 2,921,099 shares in the last quarter. Vanguard Group Inc. lifted its stake in Ranpak by 0.5% in the third quarter. Vanguard Group Inc. now owns 2,652,198 shares of the company's stock worth $14,905,000 after acquiring an additional 13,362 shares during the period. Millennium Management LLC lifted its stake in Ranpak by 32.9% in the fourth quarter. Millennium Management LLC now owns 1,588,253 shares of the company's stock worth $8,592,000 after acquiring an additional 393,344 shares during the period. Finally, Royce & Associates LP lifted its stake in Ranpak by 185.6% in the fourth quarter. Royce & Associates LP now owns 1,285,000 shares of the company's stock worth $6,952,000 after acquiring an additional 835,000 shares during the period. Hedge funds and other 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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