Ranpak (NYSE:PACK) Earns Buy Rating from Craig Hallum (2024)

Craig Hallum restated their buy rating on shares of Ranpak (NYSE:PACK – Free Report) in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a $10.00 price target on the stock.

Separately, Robert W. Baird increased their price target on shares of Ranpak from $7.00 to $8.00 and gave the stock an outperform rating in a research note on Friday, May 3rd.

Check Out Our Latest Stock Analysis on PACK

Ranpak Trading Up 13.9 %

Shares of PACK opened at $6.49 on Thursday. The company has a current ratio of 2.44, a quick ratio of 2.06 and a debt-to-equity ratio of 0.70. The firm’s 50-day moving average is $6.62 and its two-hundred day moving average is $5.87. Ranpak has a twelve month low of $2.63 and a twelve month high of $8.29. The firm has a market capitalization of $538.61 million, a P/E ratio of -23.18 and a beta of 2.31.

Ranpak (NYSE:PACK – Get Free Report) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.04). The business had revenue of $85.30 million during the quarter, compared to analyst estimates of $85.50 million. Ranpak had a negative net margin of 6.70% and a negative return on equity of 3.97%. The company’s revenue was up 5.0% compared to the same quarter last year.

Insider Activity

In other news, Director Michael Anthony Jones sold 15,625 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $6.41, for a total value of $100,156.25. Following the transaction, the director now owns 214,859 shares of the company’s stock, valued at approximately $1,377,246.19. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 8.40% of the company’s stock.

Hedge Funds Weigh In On Ranpak

A number of hedge funds have recently made changes to their positions in PACK. G2 Investment Partners Management LLC grew its holdings in Ranpak by 102.5% during the 4th quarter. G2 Investment Partners Management LLC now owns 1,863,540 shares of the company’s stock valued at $10,846,000 after purchasing an additional 943,210 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Ranpak by 397.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,500 shares of the company’s stock valued at $61,000 after purchasing an additional 8,390 shares in the last quarter. Westfield Capital Management Co. LP grew its holdings in Ranpak by 10.0% during the 3rd 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. Kennedy Capital Management LLC grew its holdings in Ranpak by 11.2% during the 3rd quarter. Kennedy Capital Management LLC now owns 495,522 shares of the company’s stock valued at $2,696,000 after purchasing an additional 49,915 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in Ranpak by 4.2% during the 4th quarter. Russell Investments Group Ltd. now owns 306,597 shares of the company’s stock valued at $1,784,000 after purchasing an additional 12,490 shares in the last quarter. Hedge funds and other institutional investors own 85.94% of the company’s stock.

About Ranpak

(Get Free Report)

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.

Featured Stories

• Five stocks we like better than Ranpak
• 3 Stocks to Consider Buying in October
• Darden Stock Up After Q4 Earnings Beat, Cautious FY25 Outlook
• Insider Buying Explained: What Investors Need to Know
• Celsius Stock: Why Piper Sandler Forecasts a 50% Surge
• Following Congress Stock Trades
• Accenture’s Stock Earnings Reveal an AI-Powered Growth Strategy

Receive News & Ratings for Ranpak Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ranpak and related companies with MarketBeat.com's FREE daily email newsletter.