Ranpak (NYSE:PACK – Free Report) had its price objective boosted by Robert W. Baird from $7.00 to $8.00 in a research note released on Friday, Benzinga reports. The brokerage currently has an outperform rating on the stock.
Separately, Craig Hallum raised their target price on Ranpak from $8.00 to $10.00 and gave the company a buy rating in a research report on Monday, April 1st.
View Our Latest Analysis on PACK
Ranpak Stock Up 2.6 %
Ranpak (NYSE:PACK – Get Free Report) last announced its earnings results on Thursday, May 2nd. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.04). Ranpak had a negative net margin of 6.70% and a negative return on equity of 3.93%. The business had revenue of $85.30 million for the quarter, compared to analysts’ expectations of $85.50 million. The firm’s revenue was up 5.0% on a year-over-year basis.
Institutional Investors Weigh In On Ranpak
Several large investors have recently added to or reduced their stakes in PACK. G2 Investment Partners Management LLC increased its holdings in 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 acquiring an additional 943,210 shares during the last quarter. Kennedy Capital Management LLC increased its holdings in Ranpak by 11.2% in the 3rd quarter. Kennedy Capital Management LLC now owns 495,522 shares of the company’s stock worth $2,696,000 after acquiring an additional 49,915 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in Ranpak in the 1st quarter worth about $362,000. Westfield Capital Management Co. LP increased its holdings in Ranpak by 10.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 442,450 shares of the company’s stock worth $2,407,000 after acquiring an additional 40,250 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in 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 acquiring an additional 26,377 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.
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