Ranpak (NYSE:PACK) Shares Up 6.9% – Should You Buy?

Ranpak Holdings Corp (NYSE:PACK)’s share price rose 6.9% during mid-day trading on Wednesday . The stock traded as high as $7.01 and last traded at $7.0150. 16,864 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 539,825 shares. The stock had previously closed at $6.56.

Analysts Set New Price Targets

PACK has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ranpak in a research report on Friday, July 17th. Wall Street Zen upgraded shares of Ranpak from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $6.83.

Ranpak Stock Performance

The company has a market cap of $538.47 million, a PE ratio of -14.31 and a beta of 3.11. The stock has a 50 day simple moving average of $6.82 and a two-hundred day simple moving average of $5.52. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.73 and a quick ratio of 1.32.

Ranpak (NYSE:PACK) last announced its earnings results on Thursday, April 30th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.01). The business had revenue of $101.20 million for the quarter, compared to analysts’ expectations of $91.59 million. Ranpak had a negative return on equity of 7.04% and a negative net margin of 9.28%. Equities analysts predict that Ranpak Holdings Corp will post -0.25 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PACK. Bank of America Corp DE raised its holdings in shares of Ranpak by 84.1% in the first quarter. Bank of America Corp DE now owns 98,213 shares of the company’s stock valued at $351,000 after buying an additional 44,871 shares during the last quarter. Gabelli Funds LLC grew its holdings in shares of Ranpak by 6.3% during the first quarter. Gabelli Funds LLC now owns 101,485 shares of the company’s stock worth $362,000 after buying an additional 5,985 shares during the last quarter. Gamco Investors INC. ET AL grew its holdings in shares of Ranpak by 28.6% during the first quarter. Gamco Investors INC. ET AL now owns 18,000 shares of the company’s stock worth $64,000 after buying an additional 4,000 shares during the last quarter. Sei Investments Co. increased its position in Ranpak by 538.5% in the 1st quarter. Sei Investments Co. now owns 120,751 shares of the company’s stock valued at $431,000 after acquiring an additional 101,840 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Ranpak by 3.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,045,306 shares of the company’s stock valued at $10,871,000 after acquiring an additional 102,942 shares during the period. 85.94% of the stock is owned by hedge funds and other institutional investors.

About Ranpak

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.