Ranpak (NYSE:PACK) Sets New 1-Year High – Time to Buy?

Ranpak Holdings Corp (NYSE:PACK) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $7.40 and last traded at $7.5260, with a volume of 2044 shares traded. The stock had previously closed at $7.30.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Wall Street Zen raised Ranpak from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Craig Hallum lowered their target price on Ranpak from $10.00 to $8.00 and set a “buy” rating for the company in a report on Friday, March 6th. UBS Group reaffirmed an “overweight” rating on shares of Ranpak in a report on Friday, March 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ranpak in a report on Tuesday, April 21st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Ranpak in a report on Friday, March 6th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $6.83.

Ranpak Stock Up 3.8%

The stock has a market cap of $648.39 million, a price-to-earnings ratio of -17.23 and a beta of 3.14. The company has a current ratio of 1.73, a quick ratio of 1.32 and a debt-to-equity ratio of 0.76. The stock’s 50-day moving average price is $5.44 and its 200-day moving average price is $5.19.

Ranpak (NYSE:PACK) last issued its quarterly earnings results on Thursday, April 30th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.01). The firm had revenue of $101.20 million during the quarter, compared to analyst estimates of $91.59 million. Ranpak had a negative return on equity of 7.04% and a negative net margin of 9.28%. On average, sell-side analysts expect that Ranpak Holdings Corp will post -0.25 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PACK. Royce & Associates LP acquired a new stake in Ranpak during the third quarter worth approximately $2,529,000. Bastion Asset Management Inc. acquired a new stake in Ranpak during the third quarter worth approximately $3,201,000. Divisadero Street Capital Management LP grew its stake in Ranpak by 150.0% during the third quarter. Divisadero Street Capital Management LP now owns 250,001 shares of the company’s stock worth $1,405,000 after purchasing an additional 150,000 shares during the period. Simcoe Capital LLC acquired a new stake in Ranpak during the fourth quarter worth approximately $2,913,000. Finally, First Eagle Investment Management LLC acquired a new stake in Ranpak during the third quarter worth approximately $1,027,000. Institutional investors and hedge funds own 85.94% of the company’s stock.

About Ranpak

Ranpak Holdings Corp. (NYSE: PACK) is a leading provider of sustainable, paper-based packaging solutions designed to protect products during transit. The company’s core business centers on the design, manufacture and distribution of automated systems and consumable paper packaging materials that offer an eco-friendly alternative to plastic-based void-fill and protective packaging. Ranpak’s solutions include crumpled paper fillers, paper wrap systems and tailored automation equipment that serve diverse end markets such as e-commerce, industrial parts, electronics and retail.

Founded in 1972 and headquartered in Concord Township, Ohio, Ranpak has built a global presence by combining innovation in paper converting technology with a commitment to sustainability.