Reynolds Consumer Products Inc. (NASDAQ:REYN) Receives Average Rating of “Hold” from Brokerages

Reynolds Consumer Products Inc. (NASDAQ:REYN) has been assigned a consensus rating of “Hold” from the six analysts that are presently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $32.33.

REYN has been the topic of several research analyst reports. JPMorgan Chase & Co. lifted their price target on Reynolds Consumer Products from $29.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Barclays lifted their price target on Reynolds Consumer Products from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, August 8th. Canaccord Genuity Group lifted their price target on Reynolds Consumer Products from $30.00 to $32.00 and gave the company a “hold” rating in a research report on Thursday, August 8th. Jefferies Financial Group initiated coverage on Reynolds Consumer Products in a research report on Thursday, August 29th. They set a “buy” rating and a $38.00 price target on the stock. Finally, Royal Bank of Canada lifted their price target on Reynolds Consumer Products from $31.00 to $32.00 and gave the company a “sector perform” rating in a research report on Thursday, August 8th.

Reynolds Consumer Products Stock Down 1.1 %

Shares of Reynolds Consumer Products stock opened at $29.81 on Monday. The business’s fifty day moving average price is $30.87 and its two-hundred day moving average price is $29.20. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.13 and a quick ratio of 1.01. The company has a market capitalization of $6.26 billion, a P/E ratio of 18.99 and a beta of 0.48. Reynolds Consumer Products has a 1-year low of $24.85 and a 1-year high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN) last announced its earnings results on Wednesday, August 7th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.02. The firm had revenue of $930.00 million for the quarter, compared to the consensus estimate of $890.71 million. Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 9.74%. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.32 EPS. As a group, research analysts forecast that Reynolds Consumer Products will post 1.7 EPS for the current year.

Hedge Funds Weigh In On Reynolds Consumer Products

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC boosted its position in shares of Reynolds Consumer Products by 510.2% in the second quarter. GAMMA Investing LLC now owns 958 shares of the company’s stock worth $27,000 after buying an additional 801 shares during the period. Versant Capital Management Inc acquired a new stake in shares of Reynolds Consumer Products in the second quarter worth $39,000. Abich Financial Wealth Management LLC acquired a new stake in shares of Reynolds Consumer Products in the second quarter worth $54,000. nVerses Capital LLC acquired a new stake in shares of Reynolds Consumer Products in the second quarter worth $90,000. Finally, International Assets Investment Management LLC boosted its position in shares of Reynolds Consumer Products by 3,009.9% in the third quarter. International Assets Investment Management LLC now owns 2,830 shares of the company’s stock worth $91,000 after buying an additional 2,739 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 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.