Ranpak Holdings Corp (NYSE:PACK) Receives $6.83 Consensus Target Price from Brokerages

Ranpak Holdings Corp (NYSE:PACK) has earned an average recommendation of “Hold” from the five ratings firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $6.8333.

Several research analysts have issued reports on PACK shares. Wall Street Zen upgraded shares of Ranpak from a “sell” rating to a “hold” rating in a research report on Saturday. Craig Hallum decreased their price objective on shares of Ranpak from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, March 6th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Ranpak in a research note on Friday, March 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ranpak in a research note on Thursday, January 22nd. Finally, UBS Group reaffirmed an “overweight” rating on shares of Ranpak in a research note on Friday, March 6th.

Hedge Funds Weigh In On Ranpak

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ballast Inc. acquired a new position in Ranpak in the 3rd quarter worth approximately $56,000. Dynamic Technology Lab Private Ltd acquired a new position in Ranpak in the 4th quarter worth approximately $55,000. Quantbot Technologies LP acquired a new position in Ranpak in the 3rd quarter worth approximately $58,000. nVerses Capital LLC acquired a new position in Ranpak in the 4th quarter worth approximately $58,000. Finally, Corient Private Wealth LLC acquired a new position in Ranpak in the 4th quarter worth approximately $59,000. Institutional investors and hedge funds own 85.94% of the company’s stock.

Ranpak Trading Down 0.7%

Ranpak stock opened at $3.56 on Tuesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.47 and a current ratio of 1.83. The firm has a market cap of $301.18 million, a price-to-earnings ratio of -7.90 and a beta of 2.88. Ranpak has a 1 year low of $2.91 and a 1 year high of $6.31. The firm’s 50 day moving average price is $4.58 and its two-hundred day moving average price is $5.08.

Ranpak (NYSE:PACK) last posted its quarterly earnings results on Thursday, March 5th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.09). The business had revenue of $111.90 million during the quarter, compared to analyst estimates of $112.82 million. Ranpak had a negative return on equity of 7.11% and a negative net margin of 9.70%. On average, research analysts predict that Ranpak will post -0.2 EPS for the current fiscal year.

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.