Barclays Has Lowered Expectations for Reynolds Consumer Products (NASDAQ:REYN) Stock Price

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) had its price target dropped by equities research analysts at Barclays from $22.00 to $21.00 in a report released on Tuesday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Barclays's price target would indicate a potential downside of 2.28% from the company's previous close.

Several other brokerages have also issued reports on REYN. Wall Street Zen upgraded shares of Reynolds Consumer Products from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Royal Bank Of Canada restated a "sector perform" rating and set a $30.00 price objective on shares of Reynolds Consumer Products in a research note on Monday, April 28th. UBS Group lowered their price objective on shares of Reynolds Consumer Products from $26.00 to $25.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Truist Financial lowered their price objective on shares of Reynolds Consumer Products from $35.00 to $30.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Finally, Stifel Nicolaus lowered their price objective on shares of Reynolds Consumer Products from $31.00 to $27.00 and set a "hold" rating on the stock in a research note on Thursday, April 10th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $27.89.

Reynolds Consumer Products Stock Down 1.3%

Shares of NASDAQ:REYN traded down $0.28 during midday trading on Tuesday, reaching $21.49. 834,657 shares of the company were exchanged, compared to its average volume of 761,499. Reynolds Consumer Products has a fifty-two week low of $20.91 and a fifty-two week high of $32.65. The company has a quick ratio of 0.72, a current ratio of 1.80 and a debt-to-equity ratio of 0.76. The stock has a fifty day simple moving average of $22.01 and a two-hundred day simple moving average of $23.81. The firm has a market cap of $4.52 billion, a PE ratio of 13.43 and a beta of 0.57.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.23 EPS for the quarter, hitting analysts' consensus estimates of $0.23. Reynolds Consumer Products had a net margin of 9.11% and a return on equity of 16.87%. The business had revenue of $801.00 million for the quarter, compared to analyst estimates of $821.99 million. During the same period last year, the business posted $0.23 earnings per share. The firm's quarterly revenue was down 1.8% on a year-over-year basis. As a group, sell-side analysts forecast that Reynolds Consumer Products will post 1.66 earnings per share for the current year.

Insider Activity at Reynolds Consumer Products

In other news, CAO Chris Mayrhofer bought 18,218 shares of the company's stock in a transaction dated Thursday, May 29th. The stock was bought at an average cost of $22.14 per share, for a total transaction of $403,346.52. Following the transaction, the chief accounting officer owned 18,218 shares of the company's stock, valued at $403,346.52. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Rolf Stangl bought 4,500 shares of the business's stock in a transaction on Friday, June 20th. The stock was bought at an average price of $21.24 per share, for a total transaction of $95,580.00. Following the transaction, the director directly owned 30,889 shares of the company's stock, valued at approximately $656,082.36. This represents a 17.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 34,766 shares of company stock valued at $765,632 over the last 90 days. Corporate insiders own 0.15% of the company's stock.

Institutional Trading of Reynolds Consumer Products

Institutional investors have recently modified their holdings of the business. GAMMA Investing LLC raised its holdings in shares of Reynolds Consumer Products by 231.8% during the second quarter. GAMMA Investing LLC now owns 2,814 shares of the company's stock valued at $60,000 after purchasing an additional 1,966 shares during the period. Versant Capital Management Inc raised its holdings in shares of 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 acquiring an additional 701 shares during the last quarter. Quarry LP raised its holdings in shares of Reynolds Consumer Products by 187.0% in the 4th quarter. Quarry LP now owns 2,531 shares of the company's stock worth $68,000 after acquiring an additional 1,649 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Reynolds Consumer Products by 667.1% in the 4th quarter. Farther Finance Advisors LLC now owns 2,585 shares of the company's stock worth $70,000 after acquiring an additional 2,248 shares during the last quarter. Finally, Parallel Advisors LLC raised its holdings in shares of Reynolds Consumer Products by 1,995.7% in the 2nd quarter. Parallel Advisors LLC now owns 3,395 shares of the company's stock worth $73,000 after acquiring an additional 3,233 shares during the last quarter. Institutional investors 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.

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