Goldman slashes price target on Ranpak Holdings Corp [PACK] – find out why.

Ranpak Holdings Corp [NYSE: PACK] gained 51.72% on the last trading session, reaching $6.63 price per share at the time. The company report on March 11, 2024 at 4:05 PM that Ranpak Holdings Corp. Reports Fourth Quarter 2023 Financial Results.

Packaging System placement up 1.5% year over year to approximately 141,200 machines at December 31, 2023.

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Net revenue for the fourth quarter increased 13.9% year over year to $90.4 million and increased 10.3% year over year on a constant currency basis to $93.9 million.

If compared to the average trading volume of 466.06K shares, PACK reached a trading volume of 8723950 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Ranpak Holdings Corp [PACK]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PACK shares is $5.25 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PACK stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Goldman have made an estimate for Ranpak Holdings Corp shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on August 24, 2021. While these analysts kept the previous recommendation, Robert W. Baird raised their target price to Outperform. The new note on the price target was released on August 10, 2021, representing the official price target for Ranpak Holdings Corp stock. Previously, the target price had yet another raise to $24, while Berenberg analysts kept a Buy rating on PACK stock.

The Average True Range (ATR) for Ranpak Holdings Corp is set at 0.49, with the Price to Sales ratio for PACK stock in the period of the last 12 months amounting to 1.63. The Price to Book ratio for the last quarter was 0.96, with the Price to Cash per share for the same quarter was set at 0.75.

Trading performance analysis for PACK stock

Ranpak Holdings Corp [PACK] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 51.03. With this latest performance, PACK shares gained by 42.27% in over the last four-week period, additionally plugging by 15.10% over the last 6 months – not to mention a rise of 34.76% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PACK stock in for the last two-week period is set at 72.02, with the RSI for the last a single of trading hit 77.86, and the three-weeks RSI is set at 67.82 for Ranpak Holdings Corp [PACK]. The present Moving Average for the last 50 days of trading for this stock 4.73, while it was recorded at 4.92 for the last single week of trading, and 4.71 for the last 200 days.

Ranpak Holdings Corp [PACK]: A deeper dive into fundamental analysis

Ranpak Holdings Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.24 and a Current Ratio set at 2.60.

Ranpak Holdings Corp [PACK]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Ranpak Holdings Corp posted -0.14/share EPS, while the average EPS was predicted by analysts to be reported at -0.13/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -7.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PACK.

An analysis of Institutional ownership at Ranpak Holdings Corp [PACK]

The top three institutional holders of PACK stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in PACK stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in PACK stock with ownership which is approximately 5.8325%.