Ranpak (NYSE:PACK) Stock Price Down 8% - Here's Why

Key Points

• Ranpak shares fell 8% on Thursday, trading as low as $6.48 after closing at $7.01 the previous day, with volume well below average.
• Analyst sentiment remains mixed: Wall Street Zen upgraded the stock to hold, while Weiss Ratings reiterated a sell. MarketBeat says the overall consensus is still Moderate Buy with a $6.83 target price.
• The company’s latest earnings showed a small EPS miss but revenue came in above expectations, as Ranpak reported a loss of $0.12 per share on $101.2 million in revenue.

Ranpak Holdings Corp (NYSE:PACK - Get Free Report) fell 8% on Thursday . The company traded as low as $6.48 and last traded at $6.45. 285,393 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 535,954 shares. The stock had previously closed at $7.01.

Analyst Upgrades and Downgrades

PACK has been the subject of several analyst reports. Wall Street Zen raised Ranpak from a "sell" rating to a "hold" rating in a report on Saturday, May 2nd. Weiss Ratings reissued 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 issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $6.83.

Ranpak Price Performance

The company's 50-day moving average is $6.81 and its 200-day moving average is $5.51. The firm has a market cap of $543.52 million, a price-to-earnings ratio of -14.40 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 released its earnings results on Thursday, April 30th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.01). Ranpak had a negative return on equity of 7.04% and a negative net margin of 9.28%.The business had revenue of $101.20 million for the quarter, compared to the consensus estimate of $91.59 million. Equities research analysts predict that Ranpak Holdings Corp will post -0.25 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PACK. Rhumbline Advisers grew its position in shares of Ranpak by 2.9% in the 3rd quarter. Rhumbline Advisers now owns 70,261 shares of the company's stock valued at $395,000 after buying an additional 2,008 shares during the last quarter. Bank of America Corp DE raised its position in shares of Ranpak by 7.4% during the third quarter. Bank of America Corp DE now owns 35,583 shares of the company's stock worth $200,000 after acquiring an additional 2,452 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of Ranpak by 8.0% in the fourth quarter. Deutsche Bank AG now owns 35,834 shares of the company's stock worth $194,000 after acquiring an additional 2,647 shares during the period. Gamco Investors INC. ET AL lifted its stake 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 worth $50,000 after acquiring an additional 3,050 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in Ranpak by 20.7% in the second quarter. The Manufacturers Life Insurance Company now owns 19,647 shares of the company's stock valued at $70,000 after acquiring an additional 3,364 shares during the last quarter. 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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