Craig Hallum Reiterates Buy Rating for Ranpak (NYSE:PACK)

Ranpak (NYSE:PACK)‘s stock had its “buy” rating reaffirmed by stock analysts at Craig Hallum in a research note issued to investors on Thursday, Benzinga reports. They presently have a $10.00 price target on the stock. Craig Hallum’s price objective would suggest a potential upside of 50.60% from the company’s current price.

Separately, Robert W. Baird boosted their price objective on Ranpak from $7.00 to $8.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd.

Ranpak Stock Performance

NYSE:PACK traded up $0.94 during mid-day trading on Thursday, hitting $6.64. 570,002 shares of the company traded hands, compared to its average volume of 573,929. The stock’s fifty day moving average price is $6.62 and its 200-day moving average price is $5.87. Ranpak has a one year low of $2.63 and a one year high of $8.29. The company has a quick ratio of 2.06, a current ratio of 2.44 and a debt-to-equity ratio of 0.70. The firm has a market cap of $551.05 million, a price-to-earnings ratio of -23.71 and a beta of 2.31.

Ranpak (NYSE:PACK) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.04). Ranpak had a negative net margin of 6.70% and a negative return on equity of 3.97%. The company had revenue of $85.30 million for the quarter, compared to the consensus estimate of $85.50 million. Ranpak’s revenue was up 5.0% compared to the same quarter last year.

Insider Buying and Selling at Ranpak

In other news, Director Michael Anthony Jones sold 15,625 shares of the company’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 $1,377,246.19. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 8.40% of the company’s stock.

Institutional Trading of Ranpak

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its position in Ranpak by 8.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,268 shares of the company’s stock valued at $231,000 after acquiring an additional 2,191 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Ranpak by 38.2% during the 4th quarter. SG Americas Securities LLC now owns 27,079 shares of the company’s stock valued at $158,000 after purchasing an additional 7,488 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Ranpak by 397.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,500 shares of the company’s stock valued at $61,000 after purchasing an additional 8,390 shares during the last quarter. Group One Trading L.P. purchased a new stake in shares of Ranpak during the 3rd quarter valued at $54,000. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Ranpak by 4.2% during the 4th quarter. Russell Investments Group Ltd. now owns 306,597 shares of the company’s stock valued at $1,784,000 after purchasing an additional 12,490 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.