Ranpak (NYSE:PACK) Stock Rating Upgraded by Wall Street Zen

Ranpak (NYSE:PACK) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

Several other research firms have also recently issued reports on PACK. UBS Group restated an “overweight” rating on shares of Ranpak in a report on Friday, March 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ranpak in a report on Thursday, January 22nd. Cantor Fitzgerald reissued an “overweight” rating on shares of Ranpak in a research report on Friday, March 6th. Finally, Craig Hallum decreased their price objective on shares of Ranpak from $10.00 to $8.00 and set a “buy” rating for the company in a report on Friday, March 6th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $6.83.

Ranpak Stock Up 0.1%

NYSE PACK opened at $3.59 on Friday. Ranpak has a 1 year low of $2.91 and a 1 year high of $6.31. The stock has a market capitalization of $303.72 million, a PE ratio of -7.97 and a beta of 2.88. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.83 and a quick ratio of 1.47. The business’s 50-day moving average is $4.62 and its 200 day moving average is $5.09.

Ranpak (NYSE:PACK) last released its quarterly earnings results on Thursday, March 5th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.09). Ranpak had a negative net margin of 9.70% and a negative return on equity of 7.11%. The business had revenue of $111.90 million for the quarter, compared to the consensus estimate of $112.82 million. Sell-side analysts forecast that Ranpak will post -0.2 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PACK. Corient Private Wealth LLC bought a new stake in shares of Ranpak during the fourth quarter valued at approximately $59,000. Empowered Funds LLC lifted its position in Ranpak by 6.0% during the fourth quarter. Empowered Funds LLC now owns 498,623 shares of the company’s stock valued at $2,698,000 after buying an additional 28,056 shares during the period. nVerses Capital LLC purchased a new position in Ranpak during the fourth quarter valued at $58,000. Numerai GP LLC bought a new stake in shares of Ranpak during the 4th quarter valued at $62,000. Finally, Millennium Management LLC boosted its holdings in shares of Ranpak by 32.9% during the 4th quarter. Millennium Management LLC now owns 1,588,253 shares of the company’s stock valued at $8,592,000 after buying an additional 393,344 shares in the last quarter. Institutional investors own 85.94% of the company’s stock.

About Ranpak

Ranpak Holdings Corp. (NYSE: PACK) is a leading provider of sustainable, paper-based packaging solutions designed to protect products during transit. The company’s core business centers on the design, manufacture and distribution of automated systems and consumable paper packaging materials that offer an eco-friendly alternative to plastic-based void-fill and protective packaging. Ranpak’s solutions include crumpled paper fillers, paper wrap systems and tailored automation equipment that serve diverse end markets such as e-commerce, industrial parts, electronics and retail.

Founded in 1972 and headquartered in Concord Township, Ohio, Ranpak has built a global presence by combining innovation in paper converting technology with a commitment to sustainability.