Cantor Fitzgerald Begins Coverage on Ranpak (NYSE:PACK)

Analysts at Cantor Fitzgerald began coverage on shares of Ranpak (NYSE:PACK - Get Free Report) in a note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage set an "overweight" rating and a $11.50 price target on the stock. Cantor Fitzgerald's price objective would indicate a potential upside of 61.06% from the stock's current price.

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

Ranpak Price Performance

Shares of NYSE:PACK traded down $0.13 during trading on Thursday, reaching $7.14. 271,399 shares of the company's stock traded hands, compared to its average volume of 439,699. The firm has a market cap of $594.45 million, a PE ratio of -29.75 and a beta of 2.42. Ranpak has a fifty-two week low of $3.85 and a fifty-two week high of $9.04. The company has a 50-day simple moving average of $6.96 and a 200-day simple moving average of $6.74. The company has a quick ratio of 2.01, a current ratio of 2.36 and a debt-to-equity ratio of 0.71.

Ranpak (NYSE:PACK - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.10) EPS 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 analyst estimates of $90.76 million. Ranpak had a negative net margin of 5.64% and a negative return on equity of 3.54%. The firm's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.03) earnings per share.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PACK. Franklin Resources Inc. increased its position in shares of Ranpak by 15.6% in the 3rd quarter. Franklin Resources Inc. now owns 28,900 shares of the company's stock valued at $183,000 after acquiring an additional 3,909 shares during the period. Barclays PLC increased its position in Ranpak by 367.0% during the third quarter. Barclays PLC now owns 73,116 shares of the company's stock worth $478,000 after purchasing an additional 57,461 shares during the last quarter. Geode Capital Management LLC lifted its position in Ranpak by 4.2% in the third quarter. Geode Capital Management LLC now owns 990,835 shares of the company's stock valued at $6,471,000 after buying an additional 40,049 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its position in Ranpak by 16.7% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 56,343 shares of the company's stock valued at $368,000 after buying an additional 8,047 shares during the period. Finally, Jane Street Group LLC lifted its position in shares of Ranpak by 93.8% during the 3rd quarter. Jane Street Group LLC now owns 84,763 shares of the company's stock worth $554,000 after buying an additional 41,030 shares during the last quarter. 85.94% of the stock is currently owned by institutional investors.

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.