Ranpak (NYSE:PACK) Stock Price Up 4.9% – Still a Buy?

Shares of Ranpak Holdings Corp (NYSE:PACK) shot up 4.9% on Thursday . The company traded as high as $6.50 and last traded at $6.4830. 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.

Wall Street Analyst Weigh In

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

Ranpak Stock Up 5.8%

The firm has a market cap of $586.38 million, a price-to-earnings ratio of -15.58 and a beta of 3.11. 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 business’s 50-day moving average is $6.69 and its 200-day moving average is $5.45.

Ranpak (NYSE:PACK) last released 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). The firm had revenue of $101.20 million during the quarter, compared to analyst estimates of $91.59 million. Ranpak had a negative net margin of 9.28% and a negative return on equity of 7.04%. On average, equities analysts predict that Ranpak Holdings Corp will post -0.25 EPS for the current year.

Institutional Investors Weigh In On Ranpak

A number of large investors have recently bought and sold shares of the business. Schusterman Interests LLC raised its position in Ranpak by 2,995.5% in 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 third quarter. Millennium Management LLC now owns 1,194,909 shares of the company’s stock worth $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 fourth quarter. Royce & Associates LP now owns 1,285,000 shares of the company’s stock worth $6,952,000 after purchasing an additional 835,000 shares during the last quarter. CenterBook Partners LP acquired a new stake in shares of Ranpak in the fourth quarter valued at $4,309,000. Finally, Samjo Management LLC acquired a new stake in shares of Ranpak in the fourth quarter valued at $3,537,000. 85.94% of the stock is currently owned by institutional investors.

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.