Ranpak (NYSE:PACK – Get Rating) released its quarterly earnings results on Wednesday. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.03), Yahoo Finance reports. The firm had revenue of $79.40 million for the quarter, compared to analysts’ expectations of $88.64 million. Ranpak had a negative net margin of 10.27% and a negative return on equity of 5.86%. The firm’s quarterly revenue was down 27.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.02) EPS. Ranpak updated its FY 2023 guidance to EPS.
Ranpak Stock Performance
PACK stock opened at $5.06 on Friday. The company has a quick ratio of 2.85, a current ratio of 3.54 and a debt-to-equity ratio of 0.62. The firm’s 50 day moving average price is $6.65 and its 200-day moving average price is $5.44. Ranpak has a one year low of $2.90 and a one year high of $23.88.
Analyst Ratings Changes
Separately, Robert W. Baird reduced their price target on shares of Ranpak from $10.00 to $7.00 and set an “outperform” rating on the stock in a research report on Thursday.
Institutional Trading of Ranpak
Ranpak Holdings Corp. engages in the provision of product protection solutions for e-commerce and industrial supply chains in North America, Europe, and Asia. It also offers protective packaging solutions, such as Void-Fill protective systems that convert paper to fill empty spaces in secondary packages, Cushioning protective systems, which convert paper into cushioning pads, 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, Cold Chain, Box Lining, and Retail.
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