Ranpak (NYSE:PACK) Trading Down 8.9% - Here's What Happened

Key Points

• Ranpak shares fell 8.9% to $5.86 in Wednesday’s mid-day trading, with volume down 73% from the stock’s average daily level.
• Analyst sentiment remains mixed but leans positive: three analysts rate Ranpak a Buy and one rates it Sell, producing a consensus “Moderate Buy” rating and a $6.83 price target.
• Ranpak’s latest quarter showed revenue of $101.2 million, above expectations, but EPS of negative $0.12 missed estimates; the company continues to report negative net margins and return on equity.

Shares of Ranpak Holdings Corp (NYSE:PACK - Get Free Report) fell 8.9% during mid-day trading on Wednesday . The stock traded as low as $5.79 and last traded at $5.86. 143,487 shares traded hands during trading, a decline of 73% from the average daily volume of 541,009 shares. The stock had previously closed at $6.43.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PACK. Wall Street Zen upgraded Ranpak from a "sell" rating to a "hold" rating in a research report on Saturday, May 2nd. Weiss Ratings restated a "sell (d-)" rating on shares of Ranpak in a research report on Friday, July 17th. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $6.83.

Ranpak Stock Performance

The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.32 and a current ratio of 1.73. The company has a market cap of $518.37 million, a PE ratio of -13.82 and a beta of 3.11. The business's 50-day moving average is $6.87 and its 200 day moving average is $5.53.

Ranpak (NYSE:PACK - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The company reported ($0.12) earnings per share (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 analysts' expectations of $91.59 million. On average, equities research analysts predict that Ranpak Holdings Corp will post -0.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Ranpak

Institutional investors and hedge funds have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd bought a new stake in Ranpak in the fourth quarter valued at approximately $55,000. Quantbot Technologies LP bought a new position in shares of Ranpak in the third quarter worth approximately $58,000. nVerses Capital LLC bought a new position in shares of Ranpak in the fourth quarter worth approximately $58,000. Corient Private Wealth LLC purchased a new position in shares of Ranpak in the fourth quarter worth $59,000. Finally, Numerai GP LLC purchased a new position in shares of Ranpak in the fourth quarter worth $62,000. 85.94% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.