Ranpak (NYSE:PACK) Shares Gap Down Following Weak Earnings

Shares of Ranpak Holdings Corp. (NYSE:PACK) gapped down before the market opened on Thursday following a dissappointing earnings announcement. The stock had previously closed at $7.33, but opened at $6.91. Ranpak shares last traded at $6.43, with a volume of 132,746 shares changing hands.

The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.04). The company had revenue of $85.30 million for the quarter, compared to analysts’ expectations of $85.50 million. Ranpak had a negative return on equity of 3.93% and a negative net margin of 6.70%. Ranpak’s revenue was up 5.0% on a year-over-year basis.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Robert W. Baird lifted their price objective on Ranpak from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Friday. Craig Hallum raised their target price on Ranpak from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, April 1st.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PACK. SG Americas Securities LLC acquired a new stake in Ranpak in the third quarter valued at approximately $107,000. Roubaix Capital LLC grew its stake in Ranpak by 1.0% in the 3rd quarter. Roubaix Capital LLC now owns 423,662 shares of the company’s stock valued at $2,305,000 after acquiring an additional 4,043 shares during the period. Simplex Trading LLC increased its holdings in Ranpak by 827.6% in the 3rd quarter. Simplex Trading LLC now owns 11,827 shares of the company’s stock worth $64,000 after acquiring an additional 10,552 shares in the last quarter. Group One Trading L.P. acquired a new position in Ranpak during the third quarter worth $54,000. Finally, Westfield Capital Management Co. LP lifted its holdings in Ranpak by 10.0% during the third quarter. Westfield Capital Management Co. LP now owns 442,450 shares of the company’s stock valued at $2,407,000 after purchasing an additional 40,250 shares in the last quarter. Hedge funds and other institutional investors own 85.94% of the company’s stock.

Ranpak Trading Up 2.6 %

The company’s 50-day moving average price is $6.75 and its 200-day moving average price is $5.20. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.60 and a quick ratio of 2.24.

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.