Reynolds Consumer Products (NASDAQ:REYN) Sees Unusually-High Trading Volume - Here's Why

Reynolds Consumer Products Inc. (NASDAQ:REYN - Get Free Report) shares saw strong trading volume on Tuesday . 1,575,853 shares traded hands during trading, an increase of 104% from the previous session's volume of 774,200 shares.The stock last traded at $21.95 and had previously closed at $21.55.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Royal Bank Of Canada restated a "sector perform" rating and set a $30.00 price target on shares of Reynolds Consumer Products in a research report on Monday, April 28th. Barclays cut their price objective on shares of Reynolds Consumer Products from $22.00 to $21.00 and set an "equal weight" rating for the company in a report on Tuesday, July 15th. UBS Group cut their price target on Reynolds Consumer Products from $25.00 to $23.00 and set a "neutral" rating for the company in a report on Thursday, July 17th. Stifel Nicolaus cut their price target on Reynolds Consumer Products from $31.00 to $27.00 and set a "hold" rating for the company in a report on Thursday, April 10th. Finally, Wall Street Zen raised shares of Reynolds Consumer Products from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $27.67.

Reynolds Consumer Products Price Performance

The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.72 and a current ratio of 1.80. The stock has a market cap of $4.69 billion, a PE ratio of 13.93 and a beta of 0.57. The stock's 50-day moving average is $21.84 and its two-hundred day moving average is $23.62.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.23 earnings per share for the quarter, meeting analysts' consensus estimates of $0.23. Reynolds Consumer Products had a net margin of 9.11% and a return on equity of 16.87%. The business had revenue of $801.00 million for the quarter, compared to analyst estimates of $821.99 million. During the same period last year, the business earned $0.23 EPS. The company's revenue was down 1.8% on a year-over-year basis. On average, equities analysts predict that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Chris Mayrhofer acquired 5,048 shares of Reynolds Consumer Products stock in a transaction dated Friday, May 30th. The shares were acquired at an average cost of $21.99 per share, for a total transaction of $111,005.52. Following the acquisition, 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Rolf Stangl purchased 4,500 shares of the business's stock in a transaction that occurred on Friday, June 20th. The shares were bought at an average price of $21.24 per share, for a total transaction 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 disclosure for this purchase can be found here. Insiders bought a total of 34,766 shares of company stock worth $765,632 over the last 90 days. Company insiders own 0.15% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of REYN. GAMMA Investing LLC grew its position in Reynolds Consumer Products by 231.8% during the 2nd quarter. GAMMA Investing LLC now owns 2,814 shares of the company's stock worth $60,000 after purchasing an additional 1,966 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of Reynolds Consumer Products by 38.1% in the first quarter. Versant Capital Management Inc now owns 2,543 shares of the company's stock valued at $61,000 after acquiring an additional 701 shares in the last quarter. Quarry LP boosted its holdings in shares of Reynolds Consumer Products by 187.0% in the fourth quarter. Quarry LP now owns 2,531 shares of the company's stock valued at $68,000 after acquiring an additional 1,649 shares in the last quarter. Parallel Advisors LLC boosted its holdings in shares of Reynolds Consumer Products by 1,995.7% in the second quarter. Parallel Advisors LLC now owns 3,395 shares of the company's stock valued at $73,000 after acquiring an additional 3,233 shares in the last quarter. Finally, Signaturefd LLC boosted its holdings in shares of Reynolds Consumer Products by 492.1% in the second quarter. Signaturefd LLC now owns 4,997 shares of the company's stock valued at $107,000 after acquiring an additional 4,153 shares in the last quarter. 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.