Ranpak (NYSE:PACK) Stock Price Up 4.9% – Time to Buy?

Ranpak Holdings Corp (NYSE:PACK)’s share price traded up 4.9% during mid-day trading on Thursday . The stock traded as high as $6.50 and last traded at $6.4830. Approximately 229,233 shares changed hands during trading, a decline of 58% from the average session volume of 547,962 shares. The stock had previously closed at $6.18.

Analyst Ratings Changes

PACK has been the subject of a number of analyst reports. Wall Street Zen raised Ranpak from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ranpak in a report on Tuesday, April 21st. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $6.83.

Ranpak Trading Up 4.9%

The company has a quick ratio of 1.32, a current ratio of 1.73 and a debt-to-equity ratio of 0.76. The firm has a market cap of $554.56 million, a price-to-earnings ratio of -14.73 and a beta of 3.11. The business’s fifty day moving average is $6.64 and its two-hundred day moving average is $5.44.

Ranpak (NYSE:PACK) last posted its quarterly earnings data on Thursday, April 30th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.01). The company had revenue of $101.20 million during the quarter, compared to the consensus estimate of $91.59 million. Ranpak had a negative return on equity of 7.04% and a negative net margin of 9.28%. Equities analysts anticipate that Ranpak Holdings Corp will post -0.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ranpak

Large investors have recently made changes to their positions in the company. MQS Management LLC acquired a new position in shares of Ranpak during the first quarter valued at $47,000. Engineers Gate Manager LP acquired a new stake in Ranpak in the second quarter worth about $49,000. Gamco Investors INC. ET AL raised its holdings in Ranpak by 27.9% during the 2nd quarter. Gamco Investors INC. ET AL now owns 14,000 shares of the company’s stock worth $50,000 after purchasing an additional 3,050 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Ranpak during the 4th quarter valued at about $55,000. Finally, Quantbot Technologies LP acquired a new position in Ranpak during the 3rd quarter valued at about $58,000. Institutional investors and hedge funds own 85.94% of the company’s stock.

Ranpak Company Profile

Ranpak Holdings Corp. (NYSE: PACK) is a leading provider of sustainable, paper-based packaging solutions designed to protect products during transit. The company’s core business centers on the design, manufacture and distribution of automated systems and consumable paper packaging materials that offer an eco-friendly alternative to plastic-based void-fill and protective packaging. Ranpak’s solutions include crumpled paper fillers, paper wrap systems and tailored automation equipment that serve diverse end markets such as e-commerce, industrial parts, electronics and retail.

Founded in 1972 and headquartered in Concord Township, Ohio, Ranpak has built a global presence by combining innovation in paper converting technology with a commitment to sustainability.