Cantor Fitzgerald Begins Coverage on Ranpak (NYSE:PACK)

Stock analysts at Cantor Fitzgerald assumed coverage on shares of Ranpak (NYSE:PACK) in a research report issued to clients and investors on Thursday, MarketBeat.com reports. The brokerage set an “overweight” rating and a $11.50 price target on the stock. Cantor Fitzgerald’s target price points to a potential upside of 58.18% from the company’s current price.

Separately, Robert W. Baird reduced their price target on shares of Ranpak from $10.00 to $7.00 and set a “neutral” rating for the company in a report on Friday, November 1st.

Ranpak Stock Down 7.4 %

PACK opened at $7.27 on Thursday. Ranpak has a twelve month low of $3.85 and a twelve month high of $9.04. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.36. The business has a 50 day moving average price of $6.94 and a 200 day moving average price of $6.74. The firm has a market cap of $605.28 million, a P/E ratio of -30.29 and a beta of 2.42.

Ranpak (NYSE:PACK) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The firm had revenue of $92.20 million for the quarter, compared to the consensus estimate of $90.76 million. Ranpak had a negative return on equity of 3.54% and a negative net margin of 5.64%. Ranpak’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.03) earnings per share.

Hedge Funds Weigh In On Ranpak

A number of large investors have recently added to or reduced their stakes in PACK. Meros Investment Management LP boosted its position in Ranpak by 32.6% during the second quarter. Meros Investment Management LP now owns 943,729 shares of the company’s stock valued at $6,068,000 after purchasing an additional 231,779 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Ranpak in the second quarter valued at $713,000. Verition Fund Management LLC bought a new stake in Ranpak during the third quarter worth $222,000. Los Angeles Capital Management LLC grew its position in shares of Ranpak by 177.4% in the 2nd quarter. Los Angeles Capital Management LLC now owns 127,512 shares of the company’s stock valued at $820,000 after acquiring an additional 81,552 shares during the period. Finally, American Century Companies Inc. raised its holdings in shares of Ranpak by 56.2% in the 2nd quarter. American Century Companies Inc. now owns 52,033 shares of the company’s stock valued at $335,000 after purchasing an additional 18,731 shares during the period. Institutional investors own 85.94% of the company’s stock.

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.