Baird R W Lowers Ranpak (NYSE:PACK) to Hold

Baird R W cut shares of Ranpak (NYSE:PACK) from a strong-buy rating to a hold rating in a research note issued to investors on Wednesday, Zacks.com reports.

Other research analysts have also recently issued research reports about the stock. Craig Hallum restated a buy rating and issued a $10.00 target price on shares of Ranpak in a research report on Thursday, June 20th. Robert W. Baird cut Ranpak from an outperform rating to a neutral rating and set a $10.00 price target for the company. in a research note on Wednesday.

Ranpak Price Performance

PACK opened at $7.13 on Wednesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.06 and a current ratio of 2.44. Ranpak has a 1-year low of $2.63 and a 1-year high of $9.04. The company has a 50-day moving average of $6.77 and a 200-day moving average of $6.43. The company has a market capitalization of $591.75 million, a P/E ratio of -25.46 and a beta of 2.40.

Ranpak (NYSE:PACK) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.13. Ranpak had a negative return on equity of 2.67% and a negative net margin of 4.41%. The business had revenue of $86.40 million for the quarter, compared to analyst estimates of $87.67 million. During the same period in the prior year, the company posted ($0.03) EPS. The business’s revenue was up 5.5% compared to the same quarter last year.

Insiders Place Their Bets

In other Ranpak news, Director Michael Anthony Jones sold 15,625 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $6.41, for a total transaction of $100,156.25. Following the sale, the director now directly owns 214,859 shares of the company’s stock, valued at approximately $1,377,246.19. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 8.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PACK. The Manufacturers Life Insurance Company boosted its holdings in Ranpak by 8.8% in the second quarter. The Manufacturers Life Insurance Company now owns 18,098 shares of the company’s stock worth $116,000 after purchasing an additional 1,464 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Ranpak by 8.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,268 shares of the company’s stock valued at $231,000 after acquiring an additional 2,191 shares in the last quarter. Innealta Capital LLC acquired a new position in Ranpak during the second quarter valued at approximately $31,000. Tower Research Capital LLC TRC raised its position in shares of Ranpak by 397.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,500 shares of the company’s stock valued at $61,000 after purchasing an additional 8,390 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Ranpak by 7.8% in the second quarter. Bank of New York Mellon Corp now owns 157,380 shares of the company’s stock worth $1,012,000 after buying an additional 11,409 shares during the last quarter. Hedge funds and other institutional investors own 85.94% of the company’s stock.

About Ranpak

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.