Robert W. Baird Has Lowered Expectations for Ranpak (NYSE:PACK) Stock Price

Ranpak (NYSE:PACK) had its target price trimmed by Robert W. Baird from $10.00 to $7.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a neutral rating on the stock.

Separately, Baird R W lowered Ranpak from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 14th.

Ranpak Stock Performance

Shares of NYSE PACK opened at $6.11 on Friday. The company has a 50 day simple moving average of $6.32 and a two-hundred day simple moving average of $6.61. The stock has a market cap of $508.47 million, a price-to-earnings ratio of -25.46 and a beta of 2.37. The company has a current ratio of 2.52, a quick ratio of 2.07 and a debt-to-equity ratio of 0.69. Ranpak has a 12 month low of $2.70 and a 12 month high of $9.04.

Ranpak (NYSE:PACK) last issued its earnings results on Thursday, October 31st. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.06). Ranpak had a negative return on equity of 3.53% and a negative net margin of 5.64%. The business had revenue of $92.20 million for the quarter, compared to analysts’ expectations of $90.76 million. During the same period last year, the business earned ($0.03) EPS. The company’s revenue for the quarter was up 11.4% on a year-over-year basis.

Institutional Trading of Ranpak

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its position in shares of Ranpak by 8.8% in the second quarter. The Manufacturers Life Insurance Company now owns 18,098 shares of the company’s stock worth $116,000 after acquiring an additional 1,464 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Ranpak by 8.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,268 shares of the company’s stock worth $231,000 after purchasing an additional 2,191 shares during the period. Innealta Capital LLC purchased a new position in Ranpak during the second quarter worth approximately $31,000. Bank of New York Mellon Corp grew its holdings in Ranpak by 7.8% in the second quarter. Bank of New York Mellon Corp now owns 157,380 shares of the company’s stock valued at $1,012,000 after purchasing an additional 11,409 shares during the period. Finally, Legato Capital Management LLC purchased a new stake in shares of Ranpak in the second quarter valued at approximately $91,000. Institutional investors and hedge funds own 85.94% of the company’s stock.

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.