Ranpak (NYSE:PACK) Coverage Initiated at Cantor Fitzgerald

Equities research analysts at Cantor Fitzgerald started coverage on shares of Ranpak (NYSE:PACK) in a report issued on Thursday, Marketbeat Ratings reports. The firm set an “overweight” rating and a $11.50 price target on the stock. Cantor Fitzgerald’s target price suggests a potential upside of 58.18% from the stock’s previous close.

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

Ranpak Stock Down 7.4 %

Ranpak stock opened at $7.27 on Thursday. The company’s 50-day moving average price is $6.94 and its two-hundred day moving average price is $6.74. The company has a current ratio of 2.36, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. The stock has a market cap of $605.28 million, a price-to-earnings ratio of -30.29 and a beta of 2.42. Ranpak has a 52 week low of $3.85 and a 52 week high of $9.04.

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

Institutional Trading of Ranpak

A number of hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted its position in Ranpak by 7.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 157,380 shares of the company’s stock worth $1,012,000 after buying an additional 11,409 shares in the last quarter. Legato Capital Management LLC acquired a new stake in Ranpak during the second quarter valued at $91,000. Innealta Capital LLC purchased a new position in Ranpak in the second quarter valued at about $31,000. Weil Company Inc. increased its position in Ranpak by 117.7% in the 2nd quarter. Weil Company Inc. now owns 39,299 shares of the company’s stock worth $253,000 after purchasing an additional 21,245 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its stake in shares of Ranpak by 177.4% during the 2nd quarter. Los Angeles Capital Management LLC now owns 127,512 shares of the company’s stock worth $820,000 after purchasing an additional 81,552 shares in the last quarter. 85.94% of the stock is owned by hedge funds and other institutional investors.

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.