Ranpak (NYSE:PACK) Shares Gap Up – Time to Buy?

Ranpak Holdings Corp. (NYSE:PACK) gapped up before the market opened on Wednesday . The stock had previously closed at $5.74, but opened at $7.01. Ranpak shares last traded at $7.53, with a volume of 5,803,312 shares changing hands.

Analyst Ratings Changes

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

Ranpak Price Performance

The firm has a market cap of $629.95 million, a PE ratio of -31.40 and a beta of 2.41. The firm has a 50-day simple moving average of $7.08 and a 200 day simple moving average of $6.84. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.36 and a quick ratio of 2.01.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. American Century Companies Inc. grew its stake in shares of Ranpak by 56.2% in the second quarter. American Century Companies Inc. now owns 52,033 shares of the company’s stock worth $335,000 after acquiring an additional 18,731 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Ranpak by 34.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,129,802 shares of the company’s stock worth $13,694,000 after purchasing an additional 542,464 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Ranpak in the second quarter worth about $713,000. Squarepoint Ops LLC lifted its holdings in Ranpak by 146.8% during the second quarter. Squarepoint Ops LLC now owns 226,834 shares of the company’s stock valued at $1,459,000 after purchasing an additional 134,910 shares in the last quarter. Finally, AQR Capital Management LLC bought a new position in Ranpak in the 2nd quarter worth $1,178,000. Hedge funds and other institutional investors own 85.94% of the company’s stock.

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.