JPMorgan Chase & Co. Boosts Stock Holdings in Ranpak Holdings Corp. (NYSE:PACK)

JPMorgan Chase & Co. raised its holdings in shares of Ranpak Holdings Corp. (NYSE:PACK) by 185.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 363,815 shares of the company’s stock after acquiring an additional 236,398 shares during the period. JPMorgan Chase & Co.’s holdings in Ranpak were worth $2,376,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PACK. Quarry LP purchased a new stake in Ranpak during the third quarter valued at about $39,000. Quantbot Technologies LP purchased a new stake in Ranpak during the third quarter valued at about $42,000. Glenmede Trust Co. NA bought a new position in shares of Ranpak during the third quarter valued at about $67,000. Paloma Partners Management Co bought a new position in shares of Ranpak during the third quarter valued at about $68,000. Finally, BNP Paribas Financial Markets raised its stake in shares of Ranpak by 27.6% during the third quarter. BNP Paribas Financial Markets now owns 14,258 shares of the company’s stock valued at $93,000 after acquiring an additional 3,087 shares during the last quarter. 85.94% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PACK has been the subject of several recent analyst reports. Robert W. Baird lowered their price objective on shares of Ranpak from $10.00 to $7.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Cantor Fitzgerald initiated coverage on shares of Ranpak in a research note on Thursday, December 19th. They set an “overweight” rating and a $11.50 price objective for the company.

Ranpak Price Performance

PACK stock opened at $6.48 on Wednesday. Ranpak Holdings Corp. has a 1 year low of $3.85 and a 1 year high of $9.04. The company has a market cap of $539.34 million, a P/E ratio of -26.99 and a beta of 2.41. The firm has a 50-day moving average of $7.16 and a 200 day moving average of $6.85. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.36 and a quick ratio of 2.01.

Ranpak (NYSE:PACK) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). Ranpak had a negative return on equity of 3.54% and a negative net margin of 5.64%. The company had revenue of $92.20 million during the quarter, compared to the consensus estimate of $90.76 million. During the same period in the previous year, the company earned ($0.03) earnings per share. Ranpak’s quarterly revenue was up 11.4% on a year-over-year basis. On average, sell-side analysts forecast that Ranpak Holdings Corp. will post -0.2 EPS for the current year.

Ranpak 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.