Reynolds Consumer Products (NASDAQ:REYN) had its target price reduced by analysts at Credit Suisse Group from $35.00 to $34.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Credit Suisse Group's target price suggests a potential upside of 21.17% from the stock's previous close.
Several other brokerages have also commented on REYN. UBS Group began coverage on Reynolds Consumer Products in a report on Wednesday, June 23rd. They set a "neutral" rating and a $32.00 price objective for the company. Citigroup reduced their target price on Reynolds Consumer Products from $35.00 to $32.00 and set a "buy" rating for the company in a research note on Tuesday, August 3rd. Zacks Investment Research upgraded Reynolds Consumer Products from a "sell" rating to a "hold" rating in a research note on Thursday. Finally, Royal Bank of Canada reduced their target price on Reynolds Consumer Products from $35.00 to $33.00 and set an "outperform" rating for the company in a research note on Tuesday, August 3rd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $33.50.
Shares of REYN opened at $28.06 on Friday. Reynolds Consumer Products has a 12 month low of $26.50 and a 12 month high of $32.19. The stock has a fifty day moving average price of $28.19 and a 200-day moving average price of $29.36. The company has a current ratio of 2.21, a quick ratio of 0.93 and a debt-to-equity ratio of 1.25. The firm has a market cap of $5.89 billion, a PE ratio of 15.59 and a beta of 0.36.
Reynolds Consumer Products (NASDAQ:REYN) last issued its quarterly earnings data on Sunday, August 1st. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.38 by $0.01. Reynolds Consumer Products had a return on equity of 24.36% and a net margin of 11.34%. The firm had revenue of $847.00 million during the quarter, compared to analyst estimates of $893.53 million. During the same quarter in the prior year, the business posted $0.55 EPS. The business's revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, research analysts forecast that Reynolds Consumer Products will post 1.59 EPS for the current year.
In other news, CAO Chris Mayrhofer purchased 4,000 shares of Reynolds Consumer Products stock in a transaction dated Thursday, August 5th. The shares were purchased at an average price of $27.84 per share, with a total value of $111,360.00. Following the transaction, the chief accounting officer now owns 789 shares in the company, valued at $21,965.76. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Michael E. Graham bought 2,400 shares of the business's stock in a transaction on Friday, August 6th. The stock was purchased at an average cost of $27.94 per share, for a total transaction of $67,056.00. Following the transaction, the chief financial officer now owns 10,359 shares of the company's stock, valued at $289,430.46. The disclosure for this purchase can be found here. Company insiders own 0.05% of the company's stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in REYN. FMR LLC raised its position in Reynolds Consumer Products by 58.2% in the second quarter. FMR LLC now owns 5,576,049 shares of the company's stock valued at $169,233,000 after purchasing an additional 2,050,492 shares during the period. Factorial Partners LLC grew its stake in shares of Reynolds Consumer Products by 12,388.4% in the first quarter. Factorial Partners LLC now owns 1,161,420 shares of the company's stock worth $39,000,000 after acquiring an additional 1,152,120 shares in the last quarter. Deprince Race & Zollo Inc. acquired a new position in shares of Reynolds Consumer Products in the first quarter worth $23,761,000. Fuller & Thaler Asset Management Inc. grew its stake in shares of Reynolds Consumer Products by 74.4% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 1,804,032 shares of the company's stock worth $54,752,000 after acquiring an additional 769,433 shares in the last quarter. Finally, Bridgewater Associates LP acquired a new position in shares of Reynolds Consumer Products in the second quarter worth $10,877,000. 26.69% of the stock is currently owned by 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 foil, disposable aluminum pans, parchment paper, freezer paper, wax paper, plastic wrap, baking cups, oven bags, and slow cooker liners under the Reynolds Wrap, Reynolds KITCHENS, and E-Z 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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