Barclays Issues Positive Forecast for Reynolds Consumer Products (NASDAQ:REYN) Stock Price

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 - Get Free Report) had its price target lifted by Barclays from $21.00 to $22.00 in a research report issued on Friday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Barclays's price target indicates a potential downside of 0.70% from the company's current price.

Several other equities analysts also recently weighed in on REYN. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $30.00 target price on shares of Reynolds Consumer Products in a research note on Monday, April 28th. Stifel Nicolaus reduced their price objective on shares of Reynolds Consumer Products from $31.00 to $27.00 and set a "hold" rating for the company in a research note on Thursday, April 10th. Canaccord Genuity Group reduced their price objective on shares of Reynolds Consumer Products from $27.00 to $26.00 and set a "hold" rating for the company in a research note on Thursday, May 1st. Truist Financial reduced their price objective on shares of Reynolds Consumer Products from $35.00 to $30.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Reynolds Consumer Products from $26.00 to $24.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $28.00.

Reynolds Consumer Products Stock Performance

NASDAQ REYN traded down $0.34 during trading hours on Friday, reaching $22.15. 29,145 shares of the company were exchanged, compared to its average volume of 956,856. Reynolds Consumer Products has a 1 year low of $20.91 and a 1 year high of $32.65. The business's 50 day simple moving average is $21.76 and its 200-day simple moving average is $23.44. 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 market capitalization of $4.66 billion, a P/E ratio of 14.89 and a beta of 0.57.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.38 by $0.01. The business had revenue of $938.00 million during the quarter, compared to the consensus estimate of $899.05 million. Reynolds Consumer Products had a net margin of 8.44% and a return on equity of 16.07%. The firm's quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the company posted $0.46 earnings per share. On average, equities research analysts expect that Reynolds Consumer Products will post 1.66 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Rolf Stangl bought 4,500 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The shares were bought at an average cost of $21.24 per share, with a total value of $95,580.00. Following the completion of the purchase, the director directly owned 30,889 shares in the company, valued at $656,082.36. This represents a 17.05% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CAO Chris Mayrhofer bought 5,048 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The stock was purchased at an average cost of $21.99 per share, for a total transaction of $111,005.52. Following the completion of the purchase, the chief accounting officer owned 23,266 shares of the company's stock, valued at $511,619.34. This trade represents a 27.71% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 34,766 shares of company stock valued at $765,632. Company insiders own 0.15% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in REYN. Raymond James Financial Inc. purchased a new position in shares of Reynolds Consumer Products in the fourth quarter worth $528,000. KLP Kapitalforvaltning AS purchased a new position in Reynolds Consumer Products during the 4th quarter valued at $364,000. LPL Financial LLC lifted its position in shares of Reynolds Consumer Products by 38.3% in the 4th quarter. LPL Financial LLC now owns 41,841 shares of the company's stock worth $1,129,000 after purchasing an additional 11,582 shares during the period. Vanguard Group Inc. boosted its stake in shares of Reynolds Consumer Products by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 5,843,058 shares of the company's stock valued at $157,704,000 after purchasing an additional 17,756 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Reynolds Consumer Products during the 4th quarter valued at about $17,964,000. 26.81% of the stock is owned by hedge funds and other institutional investors.

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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