Ranpak (NYSE:PACK) Sets New 1-Year High – Time to Buy?

Ranpak Holdings Corp (NYSE:PACK) hit a new 52-week high on Monday . The stock traded as high as $7.40 and last traded at $7.5260, with a volume of 2044 shares changing hands. The stock had previously closed at $7.30.

Analyst Ratings Changes

Several brokerages have weighed in on PACK. UBS Group reaffirmed an “overweight” rating on shares of Ranpak in a report on Friday, March 6th. Wall Street Zen raised Ranpak from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Ranpak in a report on Friday, March 6th. Craig Hallum dropped their price objective on Ranpak from $10.00 to $8.00 and set a “buy” rating for the company in a report on Friday, March 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ranpak in a report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $6.83.

Ranpak Price Performance

The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.32 and a current ratio of 1.73. The company has a market cap of $648.39 million, a price-to-earnings ratio of -17.23 and a beta of 3.14. The business has a fifty day moving average price of $5.44 and a 200 day moving average price of $5.19.

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

Institutional Investors Weigh In On Ranpak

Several hedge funds and other institutional investors have recently made changes to their positions in PACK. Schusterman Interests LLC grew its holdings in shares of Ranpak by 2,995.5% during the 3rd quarter. Schusterman Interests LLC now owns 3,018,616 shares of the company’s stock valued at $16,965,000 after purchasing an additional 2,921,099 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Ranpak by 8,737.4% during the 3rd quarter. Millennium Management LLC now owns 1,194,909 shares of the company’s stock valued at $6,715,000 after purchasing an additional 1,181,388 shares during the last quarter. Royce & Associates LP grew its holdings in shares of Ranpak by 185.6% during the 4th quarter. Royce & Associates LP now owns 1,285,000 shares of the company’s stock valued at $6,952,000 after purchasing an additional 835,000 shares during the last quarter. CenterBook Partners LP bought a new stake in shares of Ranpak during the 4th quarter valued at approximately $4,309,000. Finally, Samjo Management LLC bought a new stake in shares of Ranpak during the 4th quarter valued at approximately $3,537,000. 85.94% of the stock is owned by institutional investors.

About Ranpak

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.