Ranpak (NYSE:PACK) Now Covered by Cantor Fitzgerald

Investment analysts at Cantor Fitzgerald assumed coverage on shares of Ranpak (NYSE:PACK) in a research note issued on Thursday, MarketBeat.com reports. The firm set an “overweight” rating and a $11.50 price target on the stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 61.29% from the company’s previous close.

Separately, Robert W. Baird cut their price target on shares of Ranpak from $10.00 to $7.00 and set a “neutral” rating for the company in a research note on Friday, November 1st.

Ranpak Price Performance

Shares of NYSE PACK opened at $7.13 on Thursday. Ranpak has a fifty-two week low of $3.85 and a fifty-two week high of $9.04. The stock has a market capitalization of $593.62 million, a price-to-earnings ratio of -29.71 and a beta of 2.42. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.36 and a quick ratio of 2.01. The business has a 50-day moving average of $6.98 and a 200-day moving average of $6.75.

Ranpak (NYSE:PACK) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The company had revenue of $92.20 million for the quarter, compared to analyst estimates of $90.76 million. Ranpak had a negative return on equity of 3.54% and a negative net margin of 5.64%. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.03) EPS.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PACK. Meros Investment Management LP lifted its holdings in Ranpak by 32.6% during the 2nd quarter. Meros Investment Management LP now owns 943,729 shares of the company’s stock valued at $6,068,000 after purchasing an additional 231,779 shares during the last quarter. Verition Fund Management LLC acquired a new stake in shares of Ranpak during the 3rd quarter worth about $222,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Ranpak during the 2nd quarter worth about $713,000. Los Angeles Capital Management LLC boosted its holdings in shares of Ranpak by 177.4% during the 2nd quarter. Los Angeles Capital Management LLC now owns 127,512 shares of the company’s stock worth $820,000 after buying an additional 81,552 shares during the period. Finally, American Century Companies Inc. grew its stake in Ranpak by 56.2% in the 2nd quarter. American Century Companies Inc. now owns 52,033 shares of the company’s stock valued at $335,000 after buying an additional 18,731 shares during the last quarter. 85.94% of the stock is currently owned by institutional investors.

Ranpak Company Profile

Ranpak Holdings Corp., together with its subsidiaries, provides product protection solutions and end-of-line automation solutions for e-commerce and industrial supply chains in North America, Europe, and Asia. The company offers protective packaging solutions, such as void-fill protective systems that convert paper to fill empty spaces in secondary packages and protect objects under the FillPak brand; cushioning protective systems, which convert paper into cushioning pads under the PadPak brand; and wrapping protective systems that create pads or paper mesh to wrap and protect fragile items, as well as to line boxes and provide separation when shipping various objects under the WrapPak, Geami, and ReadyRoll brands, as well as cold chain products, which are used to provide insulation for goods.