UBS Group Issues Pessimistic Forecast for Reynolds Consumer Products (NASDAQ:REYN) Stock Price

Reynolds Consumer Products (NASDAQ:REYN - Free Report) had its target price reduced by UBS Group from $25.00 to $23.00 in a research note published on Thursday,Benzinga reports. UBS Group currently has a neutral rating on the stock.

A number of other brokerages also recently commented on REYN. Royal Bank Of Canada restated a "sector perform" rating and set a $30.00 price objective on shares of Reynolds Consumer Products in a research note on Monday, April 28th. Wall Street Zen upgraded Reynolds Consumer Products from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Barclays cut their price objective on Reynolds Consumer Products from $22.00 to $21.00 and set an "equal weight" rating for the company in a report on Tuesday. Truist Financial reduced their target price 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, Canaccord Genuity Group reduced their price objective on 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. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Reynolds Consumer Products presently has a consensus rating of "Hold" and an average target price of $27.67.

Reynolds Consumer Products Trading Up 0.5%

NASDAQ:REYN traded up $0.12 during mid-day trading on Thursday, reaching $21.95. The company's stock had a trading volume of 951,548 shares, compared to its average volume of 767,325. The stock has a market cap of $4.62 billion, a P/E ratio of 13.72 and a beta of 0.57. Reynolds Consumer Products has a twelve month low of $20.91 and a twelve month high of $32.65. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.80 and a quick ratio of 0.72. The company's fifty day simple moving average is $21.94 and its two-hundred day simple moving average is $23.75.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last released 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. Reynolds Consumer Products had a return on equity of 16.87% and a net margin of 9.11%. The firm had revenue of $801.00 million during the quarter, compared to analysts' expectations of $821.99 million. During the same quarter in the prior year, the business earned $0.23 EPS. Reynolds Consumer Products's quarterly revenue was down 1.8% compared to the same quarter last year. On average, equities analysts predict that Reynolds Consumer Products will post 1.66 EPS for the current year.

Reynolds Consumer Products Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were issued a $0.23 dividend. The ex-dividend date was Friday, May 16th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.19%. Reynolds Consumer Products's dividend payout ratio (DPR) is 57.50%.

Insider Transactions at Reynolds Consumer Products

In related news, Director Rolf Stangl bought 4,500 shares of the company's stock in a transaction that occurred on Friday, June 20th. The shares were acquired 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 owned 30,889 shares of the company's stock, valued at approximately $656,082.36. The trade was a 17.05% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Chris Mayrhofer acquired 5,048 shares of the company's stock in a transaction on Friday, May 30th. The stock was 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 of the company's stock, valued at approximately $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 worth $765,632. Corporate insiders own 0.15% of the company's stock.

Institutional Investors Weigh In On Reynolds Consumer Products

A number of large investors have recently modified their holdings of the business. GAMMA Investing LLC lifted its stake in shares of Reynolds Consumer Products by 231.8% in the 2nd quarter. GAMMA Investing LLC now owns 2,814 shares of the company's stock valued at $60,000 after acquiring an additional 1,966 shares during the last quarter. Versant Capital Management Inc raised its position in shares of Reynolds Consumer Products by 38.1% in the 1st quarter. Versant Capital Management Inc now owns 2,543 shares of the company's stock worth $61,000 after acquiring an additional 701 shares in the last quarter. Quarry LP grew its stake in shares of Reynolds Consumer Products by 187.0% in the 4th 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 grew its stake in shares of Reynolds Consumer Products by 667.1% in the 4th 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 grew its stake in shares of Reynolds Consumer Products by 1,995.7% in the 2nd quarter. Parallel Advisors LLC now owns 3,395 shares of the company's stock valued at $73,000 after buying an additional 3,233 shares during the period. Institutional investors and hedge funds 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.