Reynolds Consumer Products (NASDAQ:REYN) Hits New 52-Week Low – Time to Sell?

Reynolds Consumer Products Inc. (NASDAQ:REYN)’s stock price hit a new 52-week low on Wednesday . The stock traded as low as $24.26 and last traded at $24.67, with a volume of 716198 shares changing hands. The stock had previously closed at $24.60.

Wall Street Analysts Forecast Growth

REYN has been the topic of a number of analyst reports. UBS Group dropped their price target on shares of Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Evercore ISI cut their price target on shares of Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, February 6th. Barclays decreased their price objective on shares of Reynolds Consumer Products from $27.00 to $25.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Royal Bank of Canada reiterated a “sector perform” rating and set a $32.00 target price on shares of Reynolds Consumer Products in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. decreased their price target on Reynolds Consumer Products from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Reynolds Consumer Products currently has a consensus rating of “Hold” and an average price target of $30.38.

Reynolds Consumer Products Stock Performance

The business’s 50 day simple moving average is $27.02 and its two-hundred day simple moving average is $28.72. The firm has a market capitalization of $5.18 billion, a PE ratio of 14.67 and a beta of 0.50. The company has a current ratio of 2.04, a quick ratio of 0.89 and a debt-to-equity ratio of 0.79.

Reynolds Consumer Products (NASDAQ:REYN) last posted its earnings results on Wednesday, February 5th. The company reported $0.58 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.58. Reynolds Consumer Products had a return on equity of 17.14% and a net margin of 9.56%. Research analysts expect that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date of this dividend is Friday, February 14th. Reynolds Consumer Products’s payout ratio is 54.76%.

Insider Activity at Reynolds Consumer Products

In other Reynolds Consumer Products news, Director Rolf Stangl purchased 3,682 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were acquired at an average price of $27.50 per share, for a total transaction of $101,255.00. Following the purchase, the director now directly owns 10,889 shares of the company’s stock, valued at $299,447.50. The trade was a 51.09 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Reynolds Consumer Products

A number of institutional investors have recently bought and sold shares of REYN. ARGA Investment Management LP bought a new position in shares of Reynolds Consumer Products in the third quarter worth about $751,000. Barclays PLC grew its stake in shares of Reynolds Consumer Products by 173.9% during the 3rd quarter. Barclays PLC now owns 63,121 shares of the company’s stock valued at $1,963,000 after acquiring an additional 40,075 shares during the period. Point72 Asset Management L.P. purchased a new stake in Reynolds Consumer Products in the 3rd quarter worth approximately $4,397,000. Beacon Harbor Wealth Advisors Inc. bought a new stake in Reynolds Consumer Products during the 3rd quarter worth approximately $5,731,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Reynolds Consumer Products during the third quarter valued at approximately $851,000. 26.81% of the stock is owned by institutional investors.

About Reynolds Consumer Products

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.