Ranpak (NYSE:PACK) Shares Gap Down on Disappointing Earnings

Ranpak Holdings Corp. (NYSE:PACK) shares gapped down prior to trading on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $7.33, but opened at $6.91. Ranpak shares last traded at $6.43, with a volume of 132,746 shares traded.

The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.04). The business had revenue of $85.30 million for the quarter, compared to analysts’ expectations of $85.50 million. Ranpak had a negative net margin of 6.70% and a negative return on equity of 3.93%. The firm’s revenue was up 5.0% compared to the same quarter last year.

Analyst Ratings Changes

PACK has been the subject of a number of recent research reports. Robert W. Baird lifted their price objective on shares of Ranpak from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Friday. Craig Hallum lifted their price target on Ranpak from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, April 1st.

Institutional Investors Weigh In On Ranpak

A number of institutional investors and hedge funds have recently modified their holdings of PACK. Tower Research Capital LLC TRC increased its holdings 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 worth $61,000 after purchasing an additional 8,390 shares during the period. Westfield Capital Management Co. LP increased its stake in Ranpak by 10.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 442,450 shares of the company’s stock worth $2,407,000 after acquiring an additional 40,250 shares during the last quarter. Kennedy Capital Management LLC raised its holdings in shares of Ranpak by 11.2% in the 3rd quarter. Kennedy Capital Management LLC now owns 495,522 shares of the company’s stock valued at $2,696,000 after acquiring an additional 49,915 shares in the last quarter. Roubaix Capital LLC boosted its position in shares of Ranpak by 1.0% during the 3rd quarter. Roubaix Capital LLC now owns 423,662 shares of the company’s stock valued at $2,305,000 after acquiring an additional 4,043 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Ranpak during the 3rd quarter valued at about $107,000. 85.94% of the stock is owned by hedge funds and other institutional investors.

Ranpak Stock Up 2.6 %

The company has a fifty day moving average price of $6.75 and a 200 day moving average price of $5.20. The company has a current ratio of 2.60, a quick ratio of 2.24 and a debt-to-equity ratio of 0.70.

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.