Analysts Set Reynolds Consumer Products Inc. (NASDAQ:REYN) PT at $29.38

Reynolds Consumer Products Inc. (NASDAQ:REYN) has received a consensus rating of “Hold” from the eight brokerages that are currently covering the stock, Marketbeat reports. Six analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $29.00.

Several research firms have recently issued reports on REYN. Canaccord Genuity Group reduced their target price on Reynolds Consumer Products from $31.00 to $30.00 and set a “hold” rating for the company in a report on Thursday, February 6th. UBS Group reduced their price objective on Reynolds Consumer Products from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Thursday. 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. Barclays reduced their price target on shares of Reynolds Consumer Products from $27.00 to $25.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Reynolds Consumer Products from $26.00 to $24.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th.

Insider Transactions at Reynolds Consumer Products

In related news, Director Rolf Stangl purchased 6,000 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was purchased at an average cost of $24.89 per share, with a total value of $149,340.00. Following the completion of the acquisition, the director now directly owns 16,889 shares of the company’s stock, valued at approximately $420,367.21. The trade was a 55.10 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.15% of the company’s stock.

Institutional Trading of Reynolds Consumer Products

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CX Institutional purchased a new position in Reynolds Consumer Products during the 1st quarter valued at about $2,849,000. SG Americas Securities LLC boosted its position in shares of Reynolds Consumer Products by 950.5% in the first quarter. SG Americas Securities LLC now owns 170,615 shares of the company’s stock valued at $4,071,000 after acquiring an additional 154,374 shares during the period. Olstein Capital Management L.P. grew its stake in Reynolds Consumer Products by 28.6% during the first quarter. Olstein Capital Management L.P. now owns 304,850 shares of the company’s stock valued at $7,274,000 after acquiring an additional 67,850 shares in the last quarter. GAMMA Investing LLC increased its holdings in Reynolds Consumer Products by 1,493.1% during the 1st quarter. GAMMA Investing LLC now owns 20,233 shares of the company’s stock worth $483,000 after acquiring an additional 18,963 shares during the period. Finally, Versant Capital Management Inc lifted its stake in Reynolds Consumer Products by 38.1% in the 1st quarter. Versant Capital Management Inc now owns 2,543 shares of the company’s stock worth $61,000 after purchasing an additional 701 shares in the last quarter. 26.81% of the stock is currently owned by institutional investors.

Reynolds Consumer Products Price Performance

Shares of NASDAQ:REYN opened at $23.65 on Monday. The company has a current ratio of 2.04, a quick ratio of 0.99 and a debt-to-equity ratio of 0.79. The stock has a market cap of $4.97 billion, a PE ratio of 14.08 and a beta of 0.64. The stock’s fifty day simple moving average is $23.83 and its two-hundred day simple moving average is $26.43. Reynolds Consumer Products has a 1-year low of $21.90 and a 1-year high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN) last released its quarterly 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 net margin of 9.56% and a return on equity of 17.14%. As a group, analysts forecast that Reynolds Consumer Products will post 1.66 EPS for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a dividend of $0.23 per share. The ex-dividend date was Friday, February 14th. This represents a $0.92 dividend on an annualized basis and a yield of 3.89%. Reynolds Consumer Products’s dividend payout ratio is presently 54.76%.

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.