Ranpak (NYSE:PACK) Stock Rating Lowered by Baird R W

Ranpak (NYSE:PACK) was downgraded by equities researchers at Baird R W from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday, Zacks.com reports.

Several other research analysts also recently commented on the company. Robert W. Baird downgraded Ranpak from an “outperform” rating to a “neutral” rating and set a $10.00 target price for the company. in a research note on Wednesday. Craig Hallum restated a “buy” rating and issued a $10.00 target price on shares of Ranpak in a research note on Thursday, June 20th.

Ranpak Trading Up 4.7 %

Shares of Ranpak stock opened at $7.07 on Wednesday. Ranpak has a 1 year low of $2.63 and a 1 year high of $9.04. The firm has a market cap of $586.77 million, a PE ratio of -25.25 and a beta of 2.40. The stock has a fifty day moving average price of $6.74 and a 200-day moving average price of $6.41. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.44 and a quick ratio of 2.06.

Ranpak (NYSE:PACK) last announced its earnings results on Thursday, August 1st. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.13. The firm had revenue of $86.40 million during the quarter, compared to analyst estimates of $87.67 million. Ranpak had a negative return on equity of 2.67% and a negative net margin of 4.41%. The business’s revenue was up 5.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.03) EPS.

Insiders Place Their Bets

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.

Institutional Investors Weigh In On Ranpak

Hedge funds have recently made changes to their positions in the company. Innealta Capital LLC purchased a new stake in Ranpak in the second quarter worth about $31,000. Tower Research Capital LLC TRC grew its stake in shares of Ranpak by 397.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,500 shares of the company’s stock worth $61,000 after buying an additional 8,390 shares during the last quarter. Legato Capital Management LLC bought a new position in Ranpak during the 2nd quarter valued at approximately $91,000. The Manufacturers Life Insurance Company raised its stake in Ranpak by 8.8% during the second quarter. The Manufacturers Life Insurance Company now owns 18,098 shares of the company’s stock valued at $116,000 after buying an additional 1,464 shares during the last quarter. Finally, Gabelli Funds LLC bought a new stake in Ranpak in the second quarter worth $129,000. 85.94% of the stock is currently owned by 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.