Ranpak (NYSE:PACK) Given New $7.00 Price Target at Robert W. Baird

Ranpak (NYSE:PACK - Get Free Report) had its price target decreased by equities researchers at Robert W. Baird from $10.00 to $7.00 in a research note issued on Friday, Benzinga reports. The firm currently has a "neutral" rating on the stock. Robert W. Baird's price objective would indicate a potential upside of 14.57% from the stock's current price.

Separately, Baird R W cut shares of Ranpak from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 14th.

Ranpak Stock Up 0.5 %

Shares of NYSE PACK traded up $0.03 during midday trading on Friday, reaching $6.11. 353,354 shares of the company's stock traded hands, compared to its average volume of 465,646. Ranpak has a one year low of $2.70 and a one year high of $9.04. The stock's 50 day simple moving average is $6.34 and its 200-day simple moving average is $6.62. The company has a quick ratio of 2.07, a current ratio of 2.52 and a debt-to-equity ratio of 0.69. The company has a market cap of $508.47 million, a price-to-earnings ratio of -35.11 and a beta of 2.36.

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). Ranpak had a negative net margin of 4.41% and a negative return on equity of 2.67%. The firm had revenue of $92.20 million for the quarter, compared to analysts' expectations of $90.76 million. During the same period in the previous year, the company earned ($0.03) EPS. The company's revenue was up 11.4% on a year-over-year basis.

Hedge Funds Weigh In On Ranpak

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Ranpak by 1.1% during the first quarter. Vanguard Group Inc. now owns 2,333,187 shares of the company's stock worth $18,362,000 after acquiring an additional 25,073 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Ranpak by 34.2% during the second 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 during the period. Meros Investment Management LP raised its stake in 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 purchasing an additional 231,779 shares during the period. Driehaus Capital Management LLC raised its stake in shares of Ranpak by 2.8% in the 2nd quarter. Driehaus Capital Management LLC now owns 804,454 shares of the company's stock valued at $5,173,000 after acquiring an additional 21,574 shares during the period. Finally, Roubaix Capital LLC raised its stake in shares of Ranpak by 188.8% in the 1st quarter. Roubaix Capital LLC now owns 714,592 shares of the company's stock valued at $5,624,000 after acquiring an additional 467,179 shares during the period. 85.94% of the stock is currently owned by institutional investors and hedge funds.

About Ranpak

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.