Reynolds Consumer Products (NASDAQ:REYN) Price Target Cut to $28.00 by Analysts at Barclays

Reynolds Consumer Products (NASDAQ:REYN) had its price target cut by Barclays from $29.00 to $28.00 in a research note published on Thursday, Benzinga reports. They currently have an equal weight rating on the stock.

Several other equities analysts have also weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Reynolds Consumer Products in a research report on Thursday, August 29th. They issued a “buy” rating and a $38.00 price objective on the stock. JPMorgan Chase & Co. increased their price target on shares of Reynolds Consumer Products from $29.00 to $33.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Canaccord Genuity Group boosted their price objective on Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Thursday, August 8th. Finally, Royal Bank of Canada increased their target price on Reynolds Consumer Products from $31.00 to $32.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 8th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $32.17.

Reynolds Consumer Products Stock Performance

NASDAQ:REYN traded up $0.26 during mid-day trading on Thursday, hitting $27.21. The stock had a trading volume of 244,210 shares, compared to its average volume of 566,308. The company’s 50 day simple moving average is $30.71 and its 200 day simple moving average is $29.21. The stock has a market cap of $5.72 billion, a price-to-earnings ratio of 15.40 and a beta of 0.48. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.01 and a current ratio of 2.13. Reynolds Consumer Products has a twelve month low of $25.29 and a twelve month high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $902.88 million. Reynolds Consumer Products had a net margin of 10.03% and a return on equity of 18.41%. The business’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.37 earnings per share. On average, equities research analysts forecast that Reynolds Consumer Products will post 1.69 earnings per share for the current year.

Reynolds Consumer Products Announces Dividend

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

Institutional Investors Weigh In On Reynolds Consumer Products

A number of large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its holdings in Reynolds Consumer Products by 510.2% in the 2nd quarter. GAMMA Investing LLC now owns 958 shares of the company’s stock valued at $27,000 after acquiring an additional 801 shares in the last quarter. Versant Capital Management Inc acquired a new position in Reynolds Consumer Products in the second quarter valued at about $39,000. Abich Financial Wealth Management LLC bought a new stake in Reynolds Consumer Products during the second quarter worth about $54,000. Capital Performance Advisors LLP acquired a new stake in Reynolds Consumer Products during the third quarter worth about $70,000. Finally, International Assets Investment Management LLC grew its stake in Reynolds Consumer Products by 3,009.9% during the third quarter. International Assets Investment Management LLC now owns 2,830 shares of the company’s stock worth $91,000 after buying an additional 2,739 shares in the last quarter. Institutional investors and hedge funds own 26.81% of the company’s stock.

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.