Cantor Fitzgerald Has Lowered Expectations for Ranpak (NYSE:PACK) Stock Price

Ranpak (NYSE:PACK) had its price objective trimmed by Cantor Fitzgerald from $11.50 to $6.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Ranpak Trading Up 0.9 %

PACK opened at $3.38 on Wednesday. The business has a fifty day moving average price of $4.65 and a 200 day moving average price of $6.20. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.36 and a quick ratio of 2.01. Ranpak has a 12 month low of $2.91 and a 12 month high of $9.04. The stock has a market capitalization of $282.60 million, a price-to-earnings ratio of -14.08 and a beta of 2.79.

Ranpak (NYSE:PACK) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.09). Ranpak had a negative return on equity of 3.54% and a negative net margin of 5.64%. The company had revenue of $91.20 million for the quarter, compared to analyst estimates of $90.56 million. During the same period in the prior year, the firm posted ($0.10) earnings per share. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. Sell-side analysts expect that Ranpak will post -0.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ranpak

Large investors have recently bought and sold shares of the business. ArrowMark Colorado Holdings LLC lifted its holdings in Ranpak by 3.4% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 3,125,019 shares of the company’s stock worth $21,500,000 after buying an additional 102,804 shares during the last quarter. G2 Investment Partners Management LLC lifted its stake in Ranpak by 28.7% during the fourth quarter. G2 Investment Partners Management LLC now owns 3,070,511 shares of the company’s stock worth $21,125,000 after purchasing an additional 683,851 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Ranpak by 8.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,569,282 shares of the company’s stock valued at $17,677,000 after purchasing an additional 198,973 shares in the last quarter. Vanguard Group Inc. increased its stake in Ranpak by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 2,543,196 shares of the company’s stock valued at $17,497,000 after purchasing an additional 49,102 shares during the last quarter. Finally, Meros Investment Management LP raised its holdings in Ranpak by 1.8% during the fourth quarter. Meros Investment Management LP now owns 956,225 shares of the company’s stock worth $6,579,000 after purchasing an additional 16,834 shares in the last quarter. Hedge funds and other institutional investors own 85.94% of the company’s stock.

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.