Brokers Issue Forecasts for Ranpak FY2024 Earnings

Ranpak Holdings Corp. (NYSE:PACK - Free Report) - Analysts at Cantor Fitzgerald issued their FY2024 EPS estimates for shares of Ranpak in a report issued on Thursday, December 19th. Cantor Fitzgerald analyst T. Jensen anticipates that the company will post earnings of ($0.20) per share for the year. Cantor Fitzgerald currently has a "Overweight" rating and a $11.50 price target on the stock.

Separately, Robert W. Baird cut their price target on shares of Ranpak from $10.00 to $7.00 and set a "neutral" rating for the company in a report on Friday, November 1st.

Ranpak Price Performance

Shares of Ranpak stock traded down $0.13 on Monday, reaching $7.00. The company's stock had a trading volume of 188,321 shares, compared to its average volume of 438,685. The company has a quick ratio of 2.01, a current ratio of 2.36 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $582.80 million, a P/E ratio of -29.17 and a beta of 2.42. The stock has a 50-day moving average price of $6.98 and a 200-day moving average price of $6.76. Ranpak has a 52-week low of $3.85 and a 52-week high of $9.04.

Ranpak (NYSE:PACK - Get Free Report) last posted its earnings results on Thursday, October 31st. The company reported ($0.10) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.06). The business had revenue of $92.20 million for the quarter, compared to analyst estimates 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 last year, the business earned ($0.03) earnings per share.

Institutional Trading of Ranpak

A number of institutional investors have recently made changes to their positions in PACK. Innealta Capital LLC acquired a new position in Ranpak during the second quarter worth about $31,000. Quarry LP acquired a new position in shares of Ranpak during the 3rd quarter worth approximately $39,000. Quantbot Technologies LP purchased a new stake in shares of Ranpak in the third quarter valued at approximately $42,000. Glenmede Trust Co. NA purchased a new stake in shares of Ranpak in the third quarter valued at approximately $67,000. Finally, Paloma Partners Management Co purchased a new position in Ranpak during the third quarter worth approximately $68,000. 85.94% of the stock is owned by institutional investors and hedge funds.

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.