Ranpak (NYSE:PACK) Downgraded by Robert W. Baird

Robert W. Baird downgraded shares of Ranpak (NYSE:PACK) from an outperform rating to a neutral rating in a research report sent to investors on Wednesday, Marketbeat reports. The brokerage currently has $10.00 price objective on the stock.

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

Ranpak Price Performance

PACK opened at $7.13 on Wednesday. The stock has a market capitalization of $591.75 million, a P/E 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 has a 12-month low of $2.63 and a 12-month high of $9.04. The stock has a 50-day moving average price of $6.77 and a 200-day moving average price of $6.44.

Ranpak (NYSE:PACK) last posted its quarterly 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 period last year, the firm posted ($0.03) earnings per share. The business’s revenue was up 5.5% compared to the same quarter last year.

Insider Activity

In other Ranpak news, Director Michael Anthony Jones sold 15,625 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $6.41, for a total value of $100,156.25. Following the completion of the sale, the director now owns 214,859 shares in the company, valued at approximately $1,377,246.19. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 8.40% of the company’s stock.

Hedge Funds Weigh In On Ranpak

Hedge funds and other institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company boosted its position in Ranpak by 8.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,098 shares of the company’s stock valued at $116,000 after acquiring an additional 1,464 shares in the last quarter. Price T Rowe Associates Inc. MD boosted 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 valued at $231,000 after purchasing an additional 2,191 shares in the last quarter. Innealta Capital LLC purchased a new stake in Ranpak in the second quarter worth $31,000. Tower Research Capital LLC TRC raised its holdings in Ranpak by 397.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,500 shares of the company’s stock worth $61,000 after purchasing an additional 8,390 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Ranpak by 7.8% during the second quarter. Bank of New York Mellon Corp now owns 157,380 shares of the company’s stock valued at $1,012,000 after buying an additional 11,409 shares during the period. Hedge funds and other 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.