Ranpak (NYSE:PACK) Shares Gap Down – What’s Next?

Ranpak Holdings Corp (NYSE:PACK)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $6.81, but opened at $6.60. Ranpak shares last traded at $6.6350, with a volume of 26,344 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PACK. Wall Street Zen upgraded shares of Ranpak from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ranpak in a report on Friday. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $6.83.

Ranpak Stock Performance

The business has a fifty day moving average of $6.80 and a 200-day moving average of $5.50. The company has a market cap of $580.42 million, a PE ratio of -15.42 and a beta of 3.11. The company has a current ratio of 1.73, a quick ratio of 1.32 and a debt-to-equity ratio of 0.76.

Ranpak (NYSE:PACK) last released 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 business had revenue of $101.20 million during the quarter, compared to analysts’ expectations of $91.59 million. Ranpak had a negative return on equity of 7.04% and a negative net margin of 9.28%. Equities research analysts anticipate that Ranpak Holdings Corp will post -0.25 earnings per share for the current fiscal year.

Institutional Trading of Ranpak

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers grew its holdings in shares of Ranpak by 2.9% during the 3rd quarter. Rhumbline Advisers now owns 70,261 shares of the company’s stock worth $395,000 after acquiring an additional 2,008 shares during the period. Bank of America Corp DE raised its position in shares of Ranpak by 7.4% in the 3rd quarter. Bank of America Corp DE now owns 35,583 shares of the company’s stock worth $200,000 after acquiring an additional 2,452 shares in the last quarter. Deutsche Bank AG lifted its stake in shares of Ranpak by 8.0% in the 4th quarter. Deutsche Bank AG now owns 35,834 shares of the company’s stock valued at $194,000 after purchasing an additional 2,647 shares during the period. Gamco Investors INC. ET AL lifted its stake in shares of Ranpak by 27.9% in the 2nd quarter. Gamco Investors INC. ET AL now owns 14,000 shares of the company’s stock valued at $50,000 after purchasing an additional 3,050 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Ranpak by 20.7% during the second quarter. The Manufacturers Life Insurance Company now owns 19,647 shares of the company’s stock valued at $70,000 after purchasing an additional 3,364 shares in the last quarter. Hedge funds and other institutional investors own 85.94% of the company’s stock.

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.