Ranpak (NYSE:PACK) Trading Up 4.9% - Time to Buy?

Key Points

• Ranpak shares rose 4.9% on Thursday, trading as high as $6.50 on lighter-than-average volume before closing near $6.48.
• Analysts remain mixed on the stock: Weiss Ratings reiterated a sell rating, while Wall Street Zen upgraded it to hold; MarketBeat shows a consensus Moderate Buy with a $6.83 price target.
• The company’s latest quarter showed better-than-expected revenue of $101.2 million, but Ranpak still posted a loss of $0.12 per share and remains unprofitable, with analysts expecting full-year EPS of -$0.25.

Ranpak Holdings Corp (NYSE:PACK - Get Free Report) traded up 4.9% during trading on Thursday . The stock traded as high as $6.50 and last traded at $6.4830. Approximately 229,233 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 547,962 shares. The stock had previously closed at $6.18.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PACK. Weiss Ratings reissued a "sell (d-)" rating on shares of Ranpak in a research report on Tuesday, April 21st. Wall Street Zen raised shares of Ranpak from a "sell" rating to a "hold" rating in a research report on Saturday, May 2nd. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Ranpak presently has an average rating of "Moderate Buy" and a consensus price target of $6.83.

Ranpak Stock Up 4.9%

The firm has a market capitalization of $554.56 million, a price-to-earnings ratio of -14.73 and a beta of 3.11. The business has a 50 day moving average of $6.64 and a 200 day moving average of $5.44. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.73 and a quick ratio of 1.32.

Ranpak (NYSE:PACK - Get Free Report) last posted its quarterly 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). 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 analyst estimates of $91.59 million. On average, equities analysts anticipate that Ranpak Holdings Corp will post -0.25 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its stake in Ranpak by 3.5% during the first quarter. Dimensional Fund Advisors LP now owns 3,045,306 shares of the company's stock worth $10,871,000 after purchasing an additional 102,942 shares during the period. Schusterman Interests LLC grew its stake in shares of Ranpak by 2,995.5% in the 3rd quarter. Schusterman Interests LLC now owns 3,018,616 shares of the company's stock valued at $16,965,000 after purchasing an additional 2,921,099 shares during the period. Vanguard Group Inc. raised its holdings in shares of Ranpak by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 2,652,198 shares of the company's stock worth $14,905,000 after buying an additional 13,362 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Ranpak by 32.9% in the 4th quarter. Millennium Management LLC now owns 1,588,253 shares of the company's stock worth $8,592,000 after buying an additional 393,344 shares in the last quarter. Finally, Royce & Associates LP lifted its position in shares of Ranpak by 185.6% during the 4th quarter. Royce & Associates LP now owns 1,285,000 shares of the company's stock worth $6,952,000 after buying an additional 835,000 shares during the period. Institutional investors and hedge funds 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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