Reynolds Consumer Products (NASDAQ:REYN) Price Target Raised to $22.00

Key Points

• Barclays has raised its price target for Reynolds Consumer Products (NASDAQ: REYN) from $21.00 to $22.00, indicating a potential downside of about 0.70% based on the current stock price.
• Other analysts have varying outlooks, with a range of target prices from Royal Bank Of Canada's $30.00 to JPMorgan Chase's $24.00, reflecting a consensus rating of "Hold" with an average target of $28.00.
• Reynolds Consumer Products reported a net margin of 8.44% and a revenue of $938 million in its latest quarterly earnings, exceeding analysts' estimates.

Reynolds Consumer Products (NASDAQ:REYN - Free Report) had its price target lifted by Barclays from $21.00 to $22.00 in a research report sent to investors on Friday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other analysts have also weighed in on REYN. UBS Group upped their target price on Reynolds Consumer Products from $23.00 to $25.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Canaccord Genuity Group lowered their price target on Reynolds Consumer Products from $27.00 to $26.00 and set a "hold" rating for the company in a report on Thursday, May 1st. Wall Street Zen upgraded Reynolds Consumer Products from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Truist Financial cut their price objective on Reynolds Consumer Products from $35.00 to $30.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $30.00 target price on shares of Reynolds Consumer Products in a report on Monday, April 28th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $28.00.

Reynolds Consumer Products Trading Up 0.8%

REYN stock traded up $0.17 during trading on Friday, hitting $22.13. The company had a trading volume of 746,276 shares, compared to its average volume of 963,596. Reynolds Consumer Products has a 52-week low of $20.91 and a 52-week high of $32.65. The firm has a market capitalization of $4.65 billion, a P/E ratio of 14.85 and a beta of 0.58. The company has a quick ratio of 0.75, a current ratio of 1.85 and a debt-to-equity ratio of 0.75. The company has a 50 day simple moving average of $21.76 and a 200-day simple moving average of $23.33.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.38 by $0.01. The firm had revenue of $938.00 million for the quarter, compared to analysts' expectations of $899.05 million. Reynolds Consumer Products had a net margin of 8.44% and a return on equity of 16.00%. The firm's revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the company earned $0.46 EPS. As a group, research analysts forecast that Reynolds Consumer Products will post 1.66 earnings per share for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.23 per share. The ex-dividend date is Friday, August 15th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.2%. Reynolds Consumer Products's dividend payout ratio is presently 61.74%.

Insider Buying and Selling

In related news, CAO Chris Mayrhofer purchased 5,048 shares of the firm's stock in a transaction on Friday, May 30th. The shares were acquired at an average price of $21.99 per share, for a total transaction of $111,005.52. Following the purchase, the chief accounting officer directly owned 23,266 shares in the company, valued at $511,619.34. This trade represents a 27.71% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Rolf Stangl purchased 4,500 shares of the business's stock in a transaction that occurred on Friday, June 20th. The shares were purchased at an average price of $21.24 per share, for a total transaction of $95,580.00. Following the completion of the acquisition, the director directly owned 30,889 shares in the company, valued at $656,082.36. The trade was a 17.05% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 32,266 shares of company stock worth $707,582. Corporate insiders own 0.15% of the company's stock.

Institutional Investors Weigh In On Reynolds Consumer Products

Hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in shares of Reynolds Consumer Products by 231.8% in the second quarter. GAMMA Investing LLC now owns 2,814 shares of the company's stock worth $60,000 after acquiring an additional 1,966 shares during the period. Versant Capital Management Inc lifted its stake in Reynolds Consumer Products by 38.1% during the first 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. Quarry LP grew its holdings 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 purchasing an additional 1,649 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in Reynolds Consumer Products by 14,434.8% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 3,343 shares of the company's stock worth $72,000 after purchasing an additional 3,320 shares in the last quarter. Finally, Parallel Advisors LLC grew its holdings in Reynolds Consumer Products by 1,995.7% during 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 in the last quarter. Hedge funds and other 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.