Ranpak (NYSE:PACK) Announces Quarterly Earnings Results

Ranpak (NYSE:PACK - Get Free Report) released its quarterly earnings data on Thursday. The company reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.06), Briefing.com reports. The business had revenue of $92.20 million during the quarter, compared to the consensus estimate of $90.76 million. Ranpak had a negative net margin of 4.41% and a negative return on equity of 2.67%. The firm's quarterly revenue was up 11.4% on a year-over-year basis. During the same period last year, the business posted ($0.03) earnings per share.

Ranpak Stock Performance

Shares of NYSE PACK traded up $0.03 during midday trading on Friday, hitting $6.11. The company's stock had a trading volume of 353,354 shares, compared to its average volume of 465,646. The stock has a fifty day moving average price of $6.32 and a 200 day moving average price of $6.61. The firm has a market capitalization of $508.47 million, a price-to-earnings ratio of -33.94 and a beta of 2.36. Ranpak has a one year low of $2.70 and a one year high of $9.04. The company has a current ratio of 2.52, a quick ratio of 2.07 and a debt-to-equity ratio of 0.69.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PACK shares. Baird R W lowered Ranpak from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 14th. Robert W. Baird lowered their target price on shares of Ranpak from $10.00 to $7.00 and set a "neutral" rating for the company in a report on Friday.

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.