Ranpak (NYSE:PACK) Shares Down 4.4% – Time to Sell?

Ranpak Holdings Corp. (NYSE:PACK)’s share price dropped 4.4% during mid-day trading on Thursday . The stock traded as low as $8.25 and last traded at $8.06. Approximately 435,851 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 967,664 shares. The stock had previously closed at $8.43.

Wall Street Analysts Forecast Growth

PACK has been the subject of several recent research reports. Cantor Fitzgerald initiated coverage on Ranpak in a report on Thursday, December 19th. They issued an “overweight” rating and a $11.50 price target for the company. Robert W. Baird dropped 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

The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.36. The stock has a market capitalization of $609.88 million, a price-to-earnings ratio of -30.52 and a beta of 2.41. The business’s 50 day simple moving average is $7.11 and its 200-day simple moving average is $6.85.

Ranpak (NYSE:PACK) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The company had revenue of $92.20 million for the quarter, compared to the consensus estimate of $90.76 million. Ranpak had a negative net margin of 5.64% and a negative return on equity of 3.54%. Ranpak’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 firm earned ($0.03) earnings per share. Research analysts anticipate that Ranpak Holdings Corp. will post -0.2 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. American Century Companies Inc. raised its stake in Ranpak by 56.2% during the 2nd quarter. American Century Companies Inc. now owns 52,033 shares of the company’s stock valued at $335,000 after purchasing an additional 18,731 shares during the period. Dimensional Fund Advisors LP raised its position in Ranpak by 34.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,129,802 shares of the company’s stock valued at $13,694,000 after buying an additional 542,464 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Ranpak in the 2nd quarter worth about $713,000. Squarepoint Ops LLC boosted its position in Ranpak by 146.8% during the 2nd quarter. Squarepoint Ops LLC now owns 226,834 shares of the company’s stock worth $1,459,000 after acquiring an additional 134,910 shares during the period. Finally, AQR Capital Management LLC purchased a new position in Ranpak during the 2nd quarter valued at about $1,178,000. 85.94% of the stock is owned by institutional investors and hedge funds.

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.