Ranpak Holdings Corp (NYSE: PACK) stock jumped 3.16% on Friday to $3.92 against a previous-day closing price of $3.80. With 0.53 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.41 million shares. During the session, the Packaging & Containers company that operates in wider Consumer Cyclical sector, reached to the highest price of $3.9550 whereas the lowest price it dropped to was $3.7900. The 52-week range on PACK shows that it touched its highest point at $8.24 and its lowest point at $2.63 during that stretch. It currently has a 1-year price target of $5.25. Beta for the stock currently stands at 1.92.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PACK was up-trending over the past week, with a rise of 34.25%, but this was up by 3.43% over a month. Three-month performance dropped to -27.41% while six-month performance rose 14.96%. The stock lost -31.83% in the past year, while it has lost -32.06% so far this year. A look at the trailing 12-month EPS for PACK yields -0.31 with Next year EPS estimates of -0.21. For the next quarter, that number is -0.05. This implies an EPS growth rate of 48.79% for this year and 21.52% for next year.
Float and Shares Shorts:
At present, 79.09 million PACK shares are outstanding with a float of 72.40 million shares on hand for trading. On Oct 30, 2023, short shares totaled 1.62 million, which was 1.97% higher than short shares on Sep 28, 2023. In addition to Mr. Omar Marwan Asali as the firm’s Founder, CEO & Chairman, Mr. William E. Drew serves as its Senior VP & CFO.
Through their ownership of 94.43% of PACK’s outstanding shares, institutional investors have majority control over the company.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PACK since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With PACK analysts setting a high price target of $6.00 and a low target of $4.75, the average target price over the next 12 months is $5.25. Based on these targets, PACK could surge 53.06% to reach the target high and rise by 21.17% to reach the target low. Reaching the average price target will result in a growth of 33.93% from current levels.
Summary of Insider Activity:
Insiders traded PACK stock several times over the past three months with 8 Buys and 0 Sells. In these transactions, 34,735 shares were bought while 0 shares were sold. The number of buy transactions has increased to 43 while that of sell transactions has risen to 8 over the past year. The total number of shares bought during that period was 992,152 while 157,247 shares were sold.