Ranpak (NYSE:PACK) Shares Gap Up – Still a Buy?

Ranpak Holdings Corp. (NYSE:PACK)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $5.74, but opened at $7.01. Ranpak shares last traded at $7.53, with a volume of 5,803,312 shares changing hands.

Analysts Set New Price Targets

Several brokerages have commented on PACK. Cantor Fitzgerald began coverage on shares of Ranpak in a report on Thursday, December 19th. They issued an “overweight” rating and a $11.50 price objective for the company. Robert W. Baird reduced their price target on Ranpak from $10.00 to $7.00 and set a “neutral” rating for the company in a report on Friday, November 1st.

Ranpak Trading Down 9.7 %

The firm has a 50-day moving average of $7.12 and a 200-day moving average of $6.85. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.36 and a quick ratio of 2.01.

Ranpak (NYSE:PACK) last posted its earnings results on Thursday, October 31st. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The company had revenue of $92.20 million for the quarter, compared to the consensus estimate of $90.76 million. Ranpak had a negative net margin of 5.64% and a negative return on equity of 3.54%. Ranpak’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.03) EPS. As a group, analysts forecast that Ranpak Holdings Corp. will post -0.2 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PACK. Quarry LP purchased a new position in Ranpak during the third quarter valued at $39,000. Quantbot Technologies LP bought a new position in shares of Ranpak during the 3rd quarter valued at approximately $42,000. Glenmede Trust Co. NA purchased a new stake in Ranpak in the 3rd quarter worth approximately $67,000. Paloma Partners Management Co bought a new stake in Ranpak during the 3rd quarter worth approximately $68,000. Finally, BNP Paribas Financial Markets boosted its position in shares of Ranpak by 27.6% in the third quarter. BNP Paribas Financial Markets now owns 14,258 shares of the company’s stock worth $93,000 after purchasing an additional 3,087 shares during the period. 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.