Ranpak (NYSE:PACK) Trading Down 3.3% – Here’s Why

Ranpak Holdings Corp (NYSE:PACK)’s share price traded down 3.3% during trading on Tuesday . The company traded as low as $5.14 and last traded at $5.24. 374,075 shares traded hands during mid-day trading, an increase of 27% from the average session volume of 295,546 shares. The stock had previously closed at $5.42.

Analyst Ratings Changes

A number of analysts recently issued reports on PACK shares. Weiss Ratings restated a “sell (d-)” rating on shares of Ranpak in a research report on Thursday, January 22nd. Robert W. Baird set a $6.00 target price on shares of Ranpak in a research note on Friday, October 31st. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $7.50.

Ranpak Price Performance

The stock has a 50 day moving average of $5.40 and a 200-day moving average of $5.01. The company has a current ratio of 1.88, a quick ratio of 1.42 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $442.15 million, a P/E ratio of -11.91 and a beta of 2.76.

Ranpak (NYSE:PACK) last released its earnings results on Thursday, October 30th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.09). Ranpak had a negative return on equity of 6.79% and a negative net margin of 9.48%.The business had revenue of $99.60 million during the quarter, compared to analysts’ expectations of $99.94 million. On average, equities research analysts anticipate that Ranpak Holdings Corp will post -0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ranpak

Large investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC purchased a new position in shares of Ranpak during the second quarter worth approximately $28,000. Engineers Gate Manager LP bought a new position in Ranpak in the second quarter worth approximately $49,000. Gamco Investors INC. ET AL increased its holdings in Ranpak by 27.9% during the 2nd quarter. Gamco Investors INC. ET AL now owns 14,000 shares of the company’s stock worth $50,000 after purchasing an additional 3,050 shares during the period. Ballast Inc. bought a new stake in Ranpak during the 3rd quarter valued at $56,000. Finally, Quantbot Technologies LP bought a new stake in Ranpak during the 3rd quarter valued at $58,000. 85.94% of the stock is owned by hedge funds and other 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.