Ranpak (NYSE:PACK) Lowered to “Neutral” at Robert W. Baird

Robert W. Baird cut shares of Ranpak (NYSE:PACK) from an outperform rating to a neutral rating in a report published on Wednesday, Marketbeat reports. They currently have $10.00 target price on the stock.

Separately, Craig Hallum reaffirmed a buy rating and issued a $10.00 price target on shares of Ranpak in a report on Thursday, June 20th.

Ranpak Price Performance

PACK opened at $7.13 on Wednesday. The stock has a fifty day moving average price of $6.77 and a 200 day moving average price of $6.44. Ranpak has a 1 year low of $2.63 and a 1 year high of $9.04. The stock has a market cap of $591.75 million, a price-to-earnings ratio of -25.46 and a beta of 2.40. The company has a current ratio of 2.44, a quick ratio of 2.06 and a debt-to-equity ratio of 0.70.

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

Insider Buying and Selling

In other news, Director Michael Anthony Jones sold 15,625 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $6.41, for a total transaction of $100,156.25. Following the completion of the transaction, the director now directly owns 214,859 shares of the company’s stock, valued at $1,377,246.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 8.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Ranpak by 1.1% during the first quarter. Vanguard Group Inc. now owns 2,333,187 shares of the company’s stock worth $18,362,000 after purchasing an additional 25,073 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Ranpak by 34.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,129,802 shares of the company’s stock worth $13,694,000 after acquiring an additional 542,464 shares during the period. G2 Investment Partners Management LLC boosted its stake in shares of Ranpak by 102.5% during the 4th quarter. G2 Investment Partners Management LLC now owns 1,863,540 shares of the company’s stock worth $10,846,000 after acquiring an additional 943,210 shares during the period. Meros Investment Management LP raised its stake in Ranpak by 32.6% in the 2nd quarter. Meros Investment Management LP now owns 943,729 shares of the company’s stock valued at $6,068,000 after acquiring an additional 231,779 shares during the period. Finally, Driehaus Capital Management LLC lifted its holdings in Ranpak by 2.8% during the 2nd quarter. Driehaus Capital Management LLC now owns 804,454 shares of the company’s stock valued at $5,173,000 after purchasing an additional 21,574 shares during the last quarter. 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.