Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) had its price target cut by equities researchers at Barclays from $22.00 to $21.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Barclays's target price would suggest a potential downside of 3.18% from the stock's current price.
Other analysts have also recently issued reports about the company. Canaccord Genuity Group lowered their price objective on Reynolds Consumer Products from $27.00 to $26.00 and set a "hold" rating on the stock in a research report on Thursday, May 1st. Stifel Nicolaus lowered their price objective on Reynolds Consumer Products from $31.00 to $27.00 and set a "hold" rating on the stock in a research report on Thursday, April 10th. Wall Street Zen upgraded Reynolds Consumer Products from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. JPMorgan Chase & Co. lowered their price target on 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. Finally, UBS Group lowered their price target on Reynolds Consumer Products from $26.00 to $25.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $27.67.
Get Our Latest Stock Report on REYN
Reynolds Consumer Products Price Performance
NASDAQ:REYN traded down $0.26 during mid-day trading on Tuesday, reaching $21.69. 253,009 shares of the stock were exchanged, compared to its average volume of 765,322. The business has a fifty day moving average price of $21.94 and a 200 day moving average price of $23.75. The firm has a market capitalization of $4.56 billion, a PE ratio of 13.56 and a beta of 0.57. Reynolds Consumer Products has a 1-year low of $20.91 and a 1-year high of $32.65. The company has a current ratio of 1.80, a quick ratio of 0.72 and a debt-to-equity ratio of 0.76.
Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.23 earnings per share for the quarter, hitting analysts' consensus estimates of $0.23. The firm had revenue of $801.00 million for the quarter, compared to analysts' expectations of $821.99 million. Reynolds Consumer Products had a return on equity of 16.87% and a net margin of 9.11%. Reynolds Consumer Products's revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the business posted $0.23 EPS. Research analysts expect that Reynolds Consumer Products will post 1.66 earnings per share for the current fiscal year.
Insider Activity at Reynolds Consumer Products
In other Reynolds Consumer Products news, CAO Chris Mayrhofer purchased 18,218 shares of the stock in a transaction dated Thursday, May 29th. The stock was bought at an average price of $22.14 per share, with a total value of $403,346.52. Following the acquisition, the chief accounting officer owned 18,218 shares of the company's stock, valued at approximately $403,346.52. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Rolf Stangl bought 4,500 shares of the stock in a transaction on Friday, June 20th. The stock was purchased at an average cost of $21.24 per share, with a total value of $95,580.00. Following the acquisition, the director owned 30,889 shares in the company, 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 have bought a total of 34,766 shares of company stock valued at $765,632 over the last quarter. 0.15% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Reynolds Consumer Products
A number of institutional investors and hedge funds have recently bought and sold shares of REYN. GAMMA Investing LLC increased its holdings in Reynolds Consumer Products by 231.8% in the 2nd quarter. GAMMA Investing LLC now owns 2,814 shares of the company's stock worth $60,000 after purchasing an additional 1,966 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of Reynolds Consumer Products by 38.1% in the first quarter. Versant Capital Management Inc now owns 2,543 shares of the company's stock valued at $61,000 after buying an additional 701 shares during the period. Quarry LP increased its stake in shares of Reynolds Consumer Products by 187.0% in the fourth quarter. Quarry LP now owns 2,531 shares of the company's stock valued at $68,000 after buying an additional 1,649 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Reynolds Consumer Products by 667.1% in the fourth quarter. Farther Finance Advisors LLC now owns 2,585 shares of the company's stock valued at $70,000 after buying an additional 2,248 shares during the period. Finally, Parallel Advisors LLC boosted its position in shares of Reynolds Consumer Products by 1,995.7% during the 2nd quarter. Parallel Advisors LLC now owns 3,395 shares of the company's stock valued at $73,000 after purchasing an additional 3,233 shares in the last quarter. Institutional investors and hedge funds own 26.81% of the company's stock.
Reynolds Consumer Products Company Profile
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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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