Ranpak (NYSE:PACK) Price Target Raised to $10.00 at Robert W. Baird

Ranpak (NYSE:PACK) had its price target lifted by Robert W. Baird from $8.00 to $10.00 in a report published on Friday morning, Benzinga reports. They currently have an outperform rating on the stock.

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

Ranpak Price Performance

Shares of PACK traded down $0.73 on Friday, reaching $7.76. 718,765 shares of the stock traded hands, compared to its average volume of 361,067. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.06 and a current ratio of 2.44. Ranpak has a 12 month low of $2.63 and a 12 month high of $9.04. The stock’s 50-day moving average price is $6.53 and its 200-day moving average price is $6.25.

Ranpak (NYSE:PACK) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.13. The business had revenue of $86.40 million for the quarter, compared to analysts’ expectations of $87.67 million. Ranpak had a negative return on equity of 2.67% and a negative net margin of 4.41%. Ranpak’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.03) earnings per share.

Insiders Place Their Bets

In other news, Director Michael Anthony Jones sold 15,625 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $6.41, for a total transaction of $100,156.25. Following the completion of the transaction, the director now directly 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 Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 8.40% of the company’s stock.

Institutional Trading of Ranpak

Hedge funds have recently made changes to their positions in the business. Innealta Capital LLC bought a new position in shares of Ranpak during the second quarter worth approximately $31,000. Legato Capital Management LLC bought a new position in Ranpak during the 2nd quarter worth $91,000. Bank of New York Mellon Corp increased its stake in Ranpak by 7.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 157,380 shares of the company’s stock worth $1,012,000 after acquiring an additional 11,409 shares during the period. Price T Rowe Associates Inc. MD increased its stake 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 worth $231,000 after acquiring an additional 2,191 shares during the period. Finally, Roubaix Capital LLC increased its stake in Ranpak by 188.8% during the 1st quarter. Roubaix Capital LLC now owns 714,592 shares of the company’s stock worth $5,624,000 after acquiring an additional 467,179 shares during the period. 85.94% of the stock is owned by institutional investors and hedge funds.

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.