Ranpak (NYSE:PACK) Reaches New 52-Week High – Should You Buy?

Ranpak Holdings Corp (NYSE:PACK)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $7.40 and last traded at $7.5260, with a volume of 2044 shares. The stock had previously closed at $7.30.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PACK shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ranpak in a research note on Tuesday, April 21st. Wall Street Zen upgraded shares of Ranpak from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. UBS Group restated an “overweight” rating on shares of Ranpak in a research report on Friday, March 6th. Craig Hallum lowered their target price on shares of Ranpak from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, March 6th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Ranpak in a research report on Friday, March 6th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $6.83.

Ranpak Stock Down 2.7%

The company has a debt-to-equity ratio of 0.76, a current ratio of 1.73 and a quick ratio of 1.32. The firm’s 50-day simple moving average is $5.59 and its two-hundred day simple moving average is $5.23. The company has a market capitalization of $632.40 million, a price-to-earnings ratio of -16.80 and a beta of 3.14.

Ranpak (NYSE:PACK) last issued its earnings results on Thursday, April 30th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.01). Ranpak had a negative return on equity of 7.04% and a negative net margin of 9.28%.The company had revenue of $101.20 million for the quarter, compared to analyst estimates of $91.59 million. Sell-side analysts predict that Ranpak Holdings Corp will post -0.25 EPS for the current fiscal year.

Institutional Trading of Ranpak

Several large investors have recently modified their holdings of PACK. Empowered Funds LLC grew its position in shares of Ranpak by 4.2% in the first quarter. Empowered Funds LLC now owns 379,061 shares of the company’s stock valued at $2,055,000 after purchasing an additional 15,184 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Ranpak by 2.9% in the second quarter. Geode Capital Management LLC now owns 1,084,531 shares of the company’s stock valued at $3,872,000 after purchasing an additional 30,529 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Ranpak in the second quarter valued at approximately $108,000. Gamco Investors INC. ET AL grew its position in shares of Ranpak by 27.9% in the second quarter. Gamco Investors INC. ET AL now owns 14,000 shares of the company’s stock valued at $50,000 after purchasing an additional 3,050 shares during the last quarter. Finally, Sei Investments Co. acquired a new stake in shares of Ranpak in the second quarter valued at approximately $149,000. 85.94% of the stock is currently owned by institutional investors and hedge funds.

Ranpak Company Profile

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.