Reynolds Consumer Products (NASDAQ:REYN) Stock Breaks Above 200-Day Moving Average - What's Next?

Key Points

• Reynolds Consumer Products shares broke above their 200-day moving average, reaching $23.62 and last trading at $23.60, compared with the moving average of $23.23.
• Analyst sentiment remains cautious: one analyst rates the stock Buy and seven rate it Hold, producing a consensus “Hold” rating and a $24.60 price target. Piper Sandler upgraded the shares to Overweight, while JPMorgan raised its target to $27 but maintained Neutral.
• The company exceeded quarterly expectations, reporting $0.42 in adjusted EPS versus a $0.40 consensus estimate and $944 million in revenue, up 0.6% year over year; analysts project $1.60 in full-year EPS.

Reynolds Consumer Products Inc. (NASDAQ:REYN - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $23.23 and traded as high as $23.62. Reynolds Consumer Products shares last traded at $23.60, with a volume of 1,124,181 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have commented on REYN. Piper Sandler upgraded Reynolds Consumer Products to an "overweight" rating in a research note on Thursday, July 30th. JPMorgan Chase & Co. boosted their price target on Reynolds Consumer Products from $23.00 to $27.00 and gave the stock a "neutral" rating in a research note on Thursday, July 16th. Weiss Ratings restated a "hold (c)" rating on shares of Reynolds Consumer Products in a report on Friday, September 25th. Canaccord Genuity Group increased their price objective on shares of Reynolds Consumer Products from $24.00 to $25.00 and gave the company a "hold" rating in a research report on Thursday, July 30th. Finally, UBS Group reaffirmed a "neutral" rating and issued a $24.00 price objective on shares of Reynolds Consumer Products in a research report on Tuesday. One analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Reynolds Consumer Products has an average rating of "Hold" and a consensus price target of $24.60.

Reynolds Consumer Products Stock Performance

The firm's fifty day moving average price is $22.66 and its two-hundred day moving average price is $23.23. The stock has a market capitalization of $4.97 billion, a PE ratio of 14.39 and a beta of 0.55. The company has a current ratio of 1.80, a quick ratio of 0.71 and a debt-to-equity ratio of 0.66.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.02. Reynolds Consumer Products had a return on equity of 16.03% and a net margin of 9.11%. The firm had revenue of $944.00 million for the quarter, compared to analysts' expectations of $935.46 million. During the same period last year, the firm earned $0.39 EPS. The company's quarterly revenue was up .6% on a year-over-year basis. As a group, equities research analysts forecast that Reynolds Consumer Products Inc. will post 1.60 EPS for the current year.

Institutional Investors Weigh In On Reynolds Consumer Products

Institutional investors have recently bought and sold shares of the company. Oppenheimer & Co. Inc. purchased a new stake in shares of Reynolds Consumer Products during the third quarter worth $203,000. Signaturefd LLC lifted its holdings in Reynolds Consumer Products by 120.3% in the third quarter. Signaturefd LLC now owns 1,776 shares of the company's stock valued at $38,000 after acquiring an additional 970 shares during the last quarter. Evergreen Capital Management LLC lifted its stake in shares of Reynolds Consumer Products by 39.8% in the 3rd quarter. Evergreen Capital Management LLC now owns 11,666 shares of the company's stock valued at $252,000 after purchasing an additional 3,324 shares during the last quarter. Burns Matteson Capital Management LLC purchased a new position in shares of Reynolds Consumer Products during the 3rd quarter worth $456,000. Finally, NorthCrest Asset Manangement LLC grew its holdings in shares of Reynolds Consumer Products by 88.6% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 18,062 shares of the company's stock worth $397,000 after purchasing an additional 8,487 shares during the period. 26.81% of the stock is currently owned by institutional investors and hedge funds.

About Reynolds Consumer Products

Reynolds Consumer Products Inc NASDAQ: REYN manufactures and markets household products used for food preparation, storage, cleanup and waste management. Its portfolio includes aluminum foil, parchment paper, plastic wrap, disposable cookware, trash bags, food-storage bags and other everyday consumer products.

The company sells products under well-known brands including Reynolds and Reynolds Kitchens, Hefty, Presto, Diamond and Fresh. Its offerings are distributed through grocery stores, mass merchants, club stores, e-commerce channels and other retail outlets, as well as through foodservice and other commercial customers.

Reynolds Consumer Products serves consumers primarily in the United States and Canada.

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