Cantor Fitzgerald Weighs in on Ranpak FY2024 Earnings

Ranpak Holdings Corp. (NYSE:PACK) – Cantor Fitzgerald issued their FY2024 EPS estimates for shares of Ranpak in a research report issued on Thursday, December 19th. Cantor Fitzgerald analyst T. Jensen forecasts that the company will post earnings of ($0.20) per share for the year. Cantor Fitzgerald currently has a “Overweight” rating and a $11.50 target price on the stock.

Ranpak (NYSE:PACK) last announced its quarterly earnings results 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). Ranpak had a negative net margin of 5.64% and a negative return on equity of 3.54%. The company had revenue of $92.20 million during the quarter, compared to analysts’ expectations of $90.76 million. During the same period last year, the firm earned ($0.03) earnings per share. Ranpak’s revenue was up 11.4% on a year-over-year basis.

Separately, Robert W. Baird decreased their price objective on Ranpak from $10.00 to $7.00 and set a “neutral” rating for the company in a report on Friday, November 1st.

Ranpak Stock Up 1.6 %

Shares of NYSE PACK opened at $7.11 on Monday. The stock has a market cap of $591.96 million, a PE ratio of -29.63 and a beta of 2.42. Ranpak has a 52-week low of $3.85 and a 52-week high of $9.04. The business has a 50-day moving average price of $7.00 and a 200 day moving average price of $6.77. The company has a quick ratio of 2.01, a current ratio of 2.36 and a debt-to-equity ratio of 0.71.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its stake in shares of Ranpak by 7.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 157,380 shares of the company’s stock worth $1,012,000 after acquiring an additional 11,409 shares during the period. Legato Capital Management LLC acquired a new stake in Ranpak in the second quarter valued at about $91,000. Innealta Capital LLC purchased a new stake in Ranpak in the 2nd quarter valued at approximately $31,000. Weil Company Inc. increased its position in Ranpak by 117.7% during the 2nd quarter. Weil Company Inc. now owns 39,299 shares of the company’s stock worth $253,000 after purchasing an additional 21,245 shares during the period. Finally, Los Angeles Capital Management LLC raised its stake in shares of Ranpak by 177.4% during the 2nd quarter. Los Angeles Capital Management LLC now owns 127,512 shares of the company’s stock worth $820,000 after buying an additional 81,552 shares in the last quarter. 85.94% of the stock is currently owned by hedge funds and other institutional investors.

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.