Brokerages Set Reynolds Consumer Products Inc. (NASDAQ:REYN) Price Target at $32.17

Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) have earned a consensus rating of “Hold” from the six brokerages that are presently covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $32.17.

Several research firms have commented on REYN. Barclays lowered their price target on shares of Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. JPMorgan Chase & Co. raised their target price on Reynolds Consumer Products from $29.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Jefferies Financial Group began coverage on Reynolds Consumer Products in a report on Thursday, August 29th. They issued a “buy” rating and a $38.00 price target for the company. Canaccord Genuity Group boosted their target price on shares of Reynolds Consumer Products from $30.00 to $32.00 and gave the company a “hold” rating in a research note on Thursday, August 8th. Finally, Royal Bank of Canada raised their price target on shares of Reynolds Consumer Products from $31.00 to $32.00 and gave the company a “sector perform” rating in a research report on Thursday, August 8th.

Reynolds Consumer Products Stock Performance

Shares of Reynolds Consumer Products stock opened at $27.23 on Friday. The company has a 50 day moving average price of $29.79 and a 200 day moving average price of $29.14. The company has a quick ratio of 0.89, a current ratio of 2.04 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $5.72 billion, a P/E ratio of 15.56 and a beta of 0.50. Reynolds Consumer Products has a 52 week low of $25.80 and a 52 week high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). The business had revenue of $910.00 million for the quarter, compared to analysts’ expectations of $902.88 million. Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 10.03%. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.37 earnings per share. Sell-side analysts expect that Reynolds Consumer Products will post 1.69 EPS for the current year.

Reynolds Consumer Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.92 dividend on an annualized basis and a yield of 3.38%. Reynolds Consumer Products’s dividend payout ratio is currently 52.57%.

Insider Buying and Selling

In related news, Director Rolf Stangl purchased 7,207 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were purchased at an average cost of $27.25 per share, with a total value of $196,390.75. Following the purchase, the director now owns 7,207 shares of the company’s stock, valued at $196,390.75. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Reynolds Consumer Products

Several large investors have recently bought and sold shares of the company. Abich Financial Wealth Management LLC boosted its stake in shares of Reynolds Consumer Products by 21.3% in the third quarter. Abich Financial Wealth Management LLC now owns 2,357 shares of the company’s stock worth $73,000 after acquiring an additional 414 shares during the last quarter. Ariel Investments LLC boosted its stake in Reynolds Consumer Products by 7.0% during the 1st quarter. Ariel Investments LLC now owns 7,136 shares of the company’s stock worth $204,000 after purchasing an additional 466 shares during the last quarter. Covestor Ltd boosted its stake in Reynolds Consumer Products by 15.8% during the 1st quarter. Covestor Ltd now owns 3,520 shares of the company’s stock worth $101,000 after purchasing an additional 480 shares during the last quarter. Crossmark Global Holdings Inc. grew its holdings in shares of Reynolds Consumer Products by 4.7% during the second quarter. Crossmark Global Holdings Inc. now owns 12,181 shares of the company’s stock worth $341,000 after buying an additional 550 shares in the last quarter. Finally, Signaturefd LLC raised its position in shares of Reynolds Consumer Products by 13.0% in the second quarter. Signaturefd LLC now owns 5,287 shares of the company’s stock valued at $148,000 after buying an additional 608 shares during the last quarter. 26.81% of the stock is currently owned by hedge funds and other institutional investors.

Reynolds Consumer Products Company Profile

Reynolds Consumer Products Inc produces and sells products in cooking, waste and storage, and tableware product categories in the United States and internationally. It operates through four segments: Reynolds Cooking & Baking, Hefty Waste & Storage, Hefty Tableware, and Presto Products. The Reynolds Cooking & Baking segment produces aluminum foil, disposable aluminum pans, parchment paper, freezer paper, wax paper, butcher paper, plastic wrap, baking cups, oven bags, and slow cooker liners under the Reynolds Wrap, Reynolds KITCHENS, and EZ Foil brands in the United States, as well as under the ALCAN brand in Canada and under the Diamond brand internationally.