Ranpak (NYSE:PACK) Sees Strong Trading Volume – Time to Buy?

Ranpak Holdings Corp. (NYSE:PACK) shares saw unusually-high trading volume on Friday . Approximately 225,192 shares traded hands during mid-day trading, an increase of 34% from the previous session’s volume of 168,274 shares.The stock last traded at $6.28 and had previously closed at $6.15.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PACK shares. Robert W. Baird decreased their price objective on Ranpak from $10.00 to $7.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Cantor Fitzgerald assumed coverage on Ranpak in a report on Thursday, December 19th. They issued an “overweight” rating and a $11.50 price objective for the company.

Ranpak Price Performance

The company has a fifty day simple moving average of $7.13 and a 200 day simple moving average of $6.85. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.36. The stock has a market capitalization of $511.22 million, a price-to-earnings ratio of -25.63 and a beta of 2.41.

Ranpak (NYSE:PACK) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The business had revenue of $92.20 million for the quarter, compared to the consensus estimate of $90.76 million. Ranpak had a negative net margin of 5.64% and a negative return on equity of 3.54%. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.03) EPS. Equities research analysts forecast that Ranpak Holdings Corp. will post -0.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Ranpak

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its stake in Ranpak by 34.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,129,802 shares of the company’s stock valued at $13,694,000 after acquiring an additional 542,464 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Ranpak by 185.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 363,815 shares of the company’s stock worth $2,376,000 after buying an additional 236,398 shares during the last quarter. Meros Investment Management LP boosted its stake in shares of Ranpak by 32.6% in the 2nd quarter. Meros Investment Management LP now owns 943,729 shares of the company’s stock valued at $6,068,000 after purchasing an additional 231,779 shares in the last quarter. AQR Capital Management LLC purchased a new position in shares of Ranpak in the second quarter worth about $1,178,000. Finally, State Street Corp lifted its position in Ranpak by 15.2% in the third quarter. State Street Corp now owns 1,133,277 shares of the company’s stock valued at $7,400,000 after purchasing an additional 149,446 shares during the last quarter. 85.94% of the stock is owned by hedge funds and other institutional investors.

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.