Ranpak (NYSE:PACK) Shares Up 7.2% - Here's Why

Key Points

• Shares jumped 7.2% intraday to about $6.02 on Monday (from $5.61) with 211,057 shares traded, down from the average session volume of 512,987.
• Analyst coverage is mixed with a MarketBeat consensus of Hold and an average price target of $6.83 (three Buys, one Hold, one Sell reported).
• Quarterly results showed a miss on EPS (‑$0.12 vs. ‑$0.11 expected) but revenue beat at $101.2M; the company remains unprofitable (negative net margin and ROE), has a market cap near $496M, and about 86% institutional ownership.

Ranpak Holdings Corp (NYSE:PACK - Get Free Report)'s share price shot up 7.2% during mid-day trading on Monday . The stock traded as high as $6.00 and last traded at $6.0150. 211,057 shares were traded during trading, a decline of 59% from the average session volume of 512,987 shares. The stock had previously closed at $5.61.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PACK. Weiss Ratings reissued a "sell (d-)" rating on shares of Ranpak in a report on Tuesday, April 21st. Craig Hallum reduced their target price 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. Cantor Fitzgerald reissued an "overweight" rating on shares of Ranpak in a report on Friday, March 6th. UBS Group reissued an "overweight" rating on shares of Ranpak in a report on Friday, March 6th. Finally, Wall Street Zen raised shares of Ranpak from a "sell" rating to a "hold" rating in a report 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 company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $6.83.

Ranpak Stock Up 4.4%

The company has a debt-to-equity ratio of 0.76, a current ratio of 1.73 and a quick ratio of 1.32. The business's fifty day simple moving average is $4.04 and its two-hundred day simple moving average is $4.90. The company has a market cap of $496.04 million, a PE ratio of -13.28 and a beta of 3.06.

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 firm had revenue of $101.20 million during the quarter, compared to analysts' expectations of $91.59 million. On average, analysts predict that Ranpak Holdings Corp will post -0.27 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PACK. MQS Management LLC purchased a new position in Ranpak in the first quarter valued at $47,000. Engineers Gate Manager LP purchased a new position in Ranpak in the second quarter valued at $49,000. Gamco Investors INC. ET AL grew its position in shares of Ranpak by 27.9% in the second quarter. Gamco Investors INC. ET AL now owns 14,000 shares of the company's stock valued at $50,000 after purchasing an additional 3,050 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Ranpak in the fourth quarter valued at about $55,000. Finally, Ballast Inc. acquired a new stake in shares of Ranpak in the third quarter valued at about $56,000. 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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