Robert W. Baird Cuts Ranpak (NYSE:PACK) Price Target to $7.00

Ranpak (NYSE:PACK – Get Rating) had its price target trimmed by Robert W. Baird from $10.00 to $7.00 in a research note published on Thursday, The Fly reports. The firm currently has an outperform rating on the stock.

Ranpak Stock Performance

PACK stock opened at $5.04 on Thursday. Ranpak has a 52 week low of $2.90 and a 52 week high of $23.88. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.54 and a quick ratio of 2.85. The firm has a 50-day simple moving average of $6.63 and a 200-day simple moving average of $5.44.

Ranpak (NYSE:PACK – Get Rating) last posted its quarterly earnings data on Wednesday, March 15th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.03). Ranpak had a negative return on equity of 6.67% and a negative net margin of 12.68%. The firm had revenue of $79.40 million during the quarter, compared to analyst estimates of $88.64 million. During the same quarter in the previous year, the firm posted ($0.02) earnings per share. The company’s quarterly revenue was down 27.4% on a year-over-year basis.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. American International Group Inc. raised its position in shares of Ranpak by 8.9% in the second quarter. American International Group Inc. now owns 20,338 shares of the company’s stock valued at $142,000 after buying an additional 1,665 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Ranpak by 13.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 19,002 shares of the company’s stock valued at $110,000 after acquiring an additional 2,183 shares during the last quarter. Trellus Management Company LLC lifted its stake in Ranpak by 4.3% in the 4th quarter. Trellus Management Company LLC now owns 57,900 shares of the company’s stock worth $334,000 after purchasing an additional 2,400 shares in the last quarter. Federated Hermes Inc. boosted its holdings in shares of Ranpak by 0.9% during the 2nd quarter. Federated Hermes Inc. now owns 273,485 shares of the company’s stock worth $1,914,000 after purchasing an additional 2,560 shares during the last quarter. Finally, Captrust Financial Advisors grew its position in shares of Ranpak by 107.0% in the second quarter. Captrust Financial Advisors now owns 5,460 shares of the company’s stock valued at $38,000 after purchasing an additional 2,822 shares in the last quarter. Hedge funds and other institutional investors own 92.05% of the company’s stock.

Ranpak Company Profile

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Ranpak Holdings Corp. engages in the provision of product protection solutions for e-commerce and industrial supply chains in North America, Europe, and Asia. It also offers protective packaging solutions, such as Void-Fill protective systems that convert paper to fill empty spaces in secondary packages, Cushioning protective systems, which convert paper into cushioning pads, 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, Cold Chain, Box Lining, and Retail.