Robert W. Baird Increases Ranpak (NYSE:PACK) Price Target to $8.00

Ranpak (NYSE:PACK) had its price target increased by equities researchers at Robert W. Baird from $7.00 to $8.00 in a report released on Friday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s price target suggests a potential upside of 18.87% from the company’s current price.

Separately, Craig Hallum increased their price target on shares of Ranpak from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday, April 1st.

Ranpak Stock Up 2.6 %

PACK stock opened at $6.73 on Friday. Ranpak has a fifty-two week low of $2.63 and a fifty-two week high of $8.29. The company has a market capitalization of $556.03 million, a price-to-earnings ratio of -24.03 and a beta of 2.31. The business’s 50 day moving average price is $6.79 and its two-hundred day moving average price is $5.22. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.24 and a current ratio of 2.60.

Ranpak (NYSE:PACK) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.04). The firm had revenue of $85.30 million during the quarter, compared to analysts’ expectations of $85.50 million. Ranpak had a negative return on equity of 3.93% and a negative net margin of 6.70%. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year.

Institutional Trading of Ranpak

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets grew its stake in shares of Ranpak by 227.0% in the 1st quarter. BNP Paribas Financial Markets now owns 37,996 shares of the company’s stock worth $299,000 after buying an additional 26,377 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Ranpak in the 1st quarter worth approximately $362,000. G2 Investment Partners Management LLC grew its stake in shares of Ranpak by 102.5% in the 4th quarter. G2 Investment Partners Management LLC now owns 1,863,540 shares of the company’s stock worth $10,846,000 after buying an additional 943,210 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Ranpak by 397.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,500 shares of the company’s stock worth $61,000 after buying an additional 8,390 shares during the last quarter. Finally, M&T Bank Corp grew its stake in shares of Ranpak by 13.9% in the 4th quarter. M&T Bank Corp now owns 166,510 shares of the company’s stock worth $970,000 after buying an additional 20,374 shares during the last quarter. Hedge funds and other institutional investors own 85.94% of the company’s stock.

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.