Reynolds Consumer Products (NASDAQ:REYN) Stock Price Expected to Rise, UBS Group Analyst Says

Key Points

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Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) had its price target hoisted by analysts at UBS Group from $23.00 to $25.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the stock. UBS Group's target price would indicate a potential upside of 13.84% from the company's previous close.

Several other equities research analysts have also issued reports on REYN. Barclays lowered their price target on shares of Reynolds Consumer Products from $22.00 to $21.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 15th. Stifel Nicolaus decreased their price objective on Reynolds Consumer Products from $31.00 to $27.00 and set a "hold" rating on the stock in a report on Thursday, April 10th. Canaccord Genuity Group cut their target price on Reynolds Consumer Products from $27.00 to $26.00 and set a "hold" rating for the company in a research report on Thursday, May 1st. JPMorgan Chase & Co. lowered their price target on Reynolds Consumer Products from $26.00 to $24.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Finally, 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. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Reynolds Consumer Products currently has a consensus rating of "Hold" and a consensus target price of $28.00.

Reynolds Consumer Products Stock Performance

NASDAQ REYN traded down $0.08 during midday trading on Thursday, hitting $21.96. The company had a trading volume of 997,023 shares, compared to its average volume of 1,351,344. The firm has a fifty day simple moving average of $21.76 and a two-hundred day simple moving average of $23.37. Reynolds Consumer Products has a fifty-two week low of $20.91 and a fifty-two week high of $32.65. 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 stock has a market cap of $4.62 billion, a price-to-earnings ratio of 14.74 and a beta of 0.58.

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

Insiders Place Their Bets

In other news, Director Rolf Stangl acquired 4,500 shares of the company's stock in a transaction on Friday, June 20th. The stock was purchased at an average cost of $21.24 per share, with a total value of $95,580.00. Following the acquisition, the director owned 30,889 shares of the company's stock, valued at $656,082.36. This trade represents a 17.05% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Chris Mayrhofer purchased 5,048 shares of the stock in a transaction dated Friday, May 30th. The shares were acquired at an average price of $21.99 per share, with a total value of $111,005.52. Following the transaction, the chief accounting officer 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 disclosure for this purchase can be found here. In the last 90 days, insiders have bought 34,766 shares of company stock valued at $765,632. 0.15% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Reynolds Consumer Products

Several hedge funds have recently added to or reduced their stakes in REYN. Raymond James Financial Inc. acquired a new position in shares of Reynolds Consumer Products during the 4th quarter worth about $528,000. KLP Kapitalforvaltning AS bought a new stake in Reynolds Consumer Products in the fourth quarter valued at approximately $364,000. LPL Financial LLC raised its holdings in Reynolds Consumer Products by 38.3% in the fourth 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. grew its holdings in shares of Reynolds Consumer Products by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 5,843,058 shares of the company's stock valued at $157,704,000 after buying an additional 17,756 shares during the period. Finally, Norges Bank bought a new stake in shares of Reynolds Consumer Products in the 4th quarter valued at $17,964,000. 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.