Reynolds Consumer Products Inc. (NASDAQ:REYN) Receives $32.33 Consensus PT from Brokerages

Reynolds Consumer Products Inc. (NASDAQ:REYN) has been given an average recommendation of “Hold” by the six research firms that are currently covering the firm, MarketBeat.com reports. Five research 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 issued ratings on the stock in the last year is $32.33.

A number of analysts recently issued reports on REYN shares. Canaccord Genuity Group lifted their price objective on Reynolds Consumer Products from $30.00 to $32.00 and gave the company a “hold” rating in a research report on Thursday, August 8th. Barclays lifted their price objective on Reynolds Consumer Products from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, August 8th. Jefferies Financial Group started coverage on Reynolds Consumer Products in a research report on Thursday, August 29th. They issued a “buy” rating and a $38.00 price target for the company. Royal Bank of Canada boosted their price target on Reynolds Consumer Products from $31.00 to $32.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. boosted their price target on Reynolds Consumer Products from $29.00 to $33.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th.

Reynolds Consumer Products Price Performance

REYN opened at $29.81 on Monday. The stock has a market cap of $6.26 billion, a price-to-earnings ratio of 18.99 and a beta of 0.48. Reynolds Consumer Products has a 1 year low of $24.85 and a 1 year high of $32.65. The company has a current ratio of 2.13, a quick ratio of 1.01 and a debt-to-equity ratio of 0.87. The stock has a fifty day moving average price of $30.87 and a 200 day moving average price of $29.20.

Reynolds Consumer Products (NASDAQ:REYN) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. The firm had revenue of $930.00 million during the quarter, compared to analysts’ expectations of $890.71 million. Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 9.74%. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.32 earnings per share. Analysts forecast that Reynolds Consumer Products will post 1.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Reynolds Consumer Products

A number of institutional investors have recently made changes to their positions in REYN. GAMMA Investing LLC increased its stake in shares of Reynolds Consumer Products by 510.2% in the second quarter. GAMMA Investing LLC now owns 958 shares of the company’s stock worth $27,000 after purchasing an additional 801 shares during the period. Versant Capital Management Inc bought a new position in shares of Reynolds Consumer Products in the second quarter worth about $39,000. Abich Financial Wealth Management LLC bought a new position in shares of Reynolds Consumer Products in the second quarter worth about $54,000. nVerses Capital LLC bought a new position in shares of Reynolds Consumer Products in the second quarter worth about $90,000. Finally, International Assets Investment Management LLC increased its stake in shares of Reynolds Consumer Products by 3,009.9% in the third quarter. International Assets Investment Management LLC now owns 2,830 shares of the company’s stock worth $91,000 after purchasing an additional 2,739 shares during the period. 26.81% of the stock is currently owned by 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.