Ranpak (NYSE:PACK – Free Report) had its price objective boosted by Robert W. Baird from $8.00 to $10.00 in a research note released on Friday, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.
Separately, Craig Hallum reissued a buy rating and issued a $10.00 target price on shares of Ranpak in a research report on Thursday, June 20th.
Check Out Our Latest Stock Report on Ranpak
Ranpak Trading Down 3.2 %
Ranpak (NYSE:PACK – Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $86.40 million for the quarter, compared to analyst estimates of $87.67 million. During the same period last year, the company earned ($0.03) EPS. The business’s quarterly revenue was up 5.5% compared to the same quarter last year.
Insiders Place Their Bets
In other news, Director Michael Anthony Jones sold 15,625 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $6.41, for a total transaction of $100,156.25. Following the transaction, the director now owns 214,859 shares of the company’s stock, valued at approximately $1,377,246.19. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 8.40% of the company’s stock.
Hedge Funds Weigh In On Ranpak
A number of large investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD lifted its position in shares of Ranpak by 8.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 29,268 shares of the company’s stock worth $231,000 after purchasing an additional 2,191 shares during the last quarter. Innealta Capital LLC purchased a new stake in Ranpak in the 2nd quarter valued at about $31,000. SG Americas Securities LLC grew its stake in Ranpak by 38.2% in the 4th quarter. SG Americas Securities LLC now owns 27,079 shares of the company’s stock worth $158,000 after acquiring an additional 7,488 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Ranpak by 397.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,500 shares of the company’s stock valued at $61,000 after acquiring an additional 8,390 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Ranpak by 7.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 157,380 shares of the company’s stock valued at $1,012,000 after purchasing an additional 11,409 shares in 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.
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