Robert W. Baird Cuts Ranpak (NYSE:PACK) Price Target to $7.00

Ranpak (NYSE:PACK) had its price objective reduced by Robert W. Baird from $10.00 to $7.00 in a research report sent to investors on Friday, Benzinga reports. They currently have a neutral rating on the stock.

Separately, Baird R W cut Ranpak from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 14th.

Ranpak Stock Performance

Shares of Ranpak stock opened at $6.11 on Friday. The company has a current ratio of 2.52, a quick ratio of 2.07 and a debt-to-equity ratio of 0.69. The stock’s fifty day moving average price is $6.32 and its 200-day moving average price is $6.61. The firm has a market cap of $508.47 million, a P/E ratio of -25.46 and a beta of 2.37. Ranpak has a 12 month low of $2.70 and a 12 month high of $9.04.

Ranpak (NYSE:PACK) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The business had revenue of $92.20 million during the quarter, compared to analysts’ expectations of $90.76 million. Ranpak had a negative return on equity of 3.53% and a negative net margin of 5.64%. Ranpak’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.03) EPS.

Hedge Funds Weigh In On Ranpak

Several institutional investors and hedge funds have recently bought and sold shares of PACK. Dimensional Fund Advisors LP boosted its position in shares of Ranpak by 34.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,129,802 shares of the company’s stock worth $13,694,000 after purchasing an additional 542,464 shares in the last quarter. Roubaix Capital LLC grew its stake in shares of Ranpak by 188.8% during the first quarter. Roubaix Capital LLC now owns 714,592 shares of the company’s stock worth $5,624,000 after acquiring an additional 467,179 shares during the last quarter. Meros Investment Management LP grew its stake in shares of Ranpak by 32.6% during the second quarter. Meros Investment Management LP now owns 943,729 shares of the company’s stock worth $6,068,000 after acquiring an additional 231,779 shares during the last quarter. AQR Capital Management LLC acquired a new position in shares of Ranpak during the second quarter valued at about $1,178,000. Finally, Squarepoint Ops LLC raised its position in shares of Ranpak by 146.8% in the 2nd quarter. Squarepoint Ops LLC now owns 226,834 shares of the company’s stock valued at $1,459,000 after purchasing an additional 134,910 shares during the last quarter. 85.94% of the stock is owned by hedge funds and other institutional investors.

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.