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

Reynolds Consumer Products (NASDAQ:REYN) had its price target decreased by stock analysts at Barclays from $29.00 to $28.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s target price points to a potential upside of 2.83% from the company’s previous close.

Several other research firms also recently issued reports on REYN. Royal Bank of Canada boosted their price target on Reynolds Consumer Products from $31.00 to $32.00 and gave the company a “sector perform” rating in a research note on Thursday, August 8th. Jefferies Financial Group assumed coverage on Reynolds Consumer Products in a research note on Thursday, August 29th. They issued a “buy” rating and a $38.00 price target for the company. JPMorgan Chase & Co. lifted their price objective on Reynolds Consumer Products from $29.00 to $33.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Finally, Canaccord Genuity Group lifted their price objective on Reynolds Consumer Products from $30.00 to $32.00 and gave the company a “hold” rating in a report on Thursday, August 8th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $32.17.

Reynolds Consumer Products Stock Performance

REYN traded down $0.46 during trading on Thursday, hitting $27.23. The stock had a trading volume of 479,785 shares, compared to its average volume of 564,726. The company has a 50 day moving average price of $30.78 and a 200-day moving average price of $29.22. The firm has a market cap of $5.72 billion, a price-to-earnings ratio of 17.37 and a beta of 0.48. Reynolds Consumer Products has a one year low of $25.08 and a one year high of $32.65. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.13 and a quick ratio of 1.01.

Reynolds Consumer Products (NASDAQ:REYN) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.01). The firm had revenue of $910.00 million during the quarter, compared to the consensus estimate of $902.88 million. Reynolds Consumer Products had a net margin of 9.74% and a return on equity of 18.27%. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.37 earnings per share. As a group, research analysts predict that Reynolds Consumer Products will post 1.7 EPS for the current year.

Hedge Funds Weigh In On Reynolds Consumer Products

A number of institutional investors have recently modified their holdings of the business. Robeco Institutional Asset Management B.V. acquired a new position in shares of Reynolds Consumer Products during the 3rd quarter worth $2,026,000. Deroy & Devereaux Private Investment Counsel Inc. raised its holdings in shares of Reynolds Consumer Products by 0.6% during the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 135,425 shares of the company’s stock worth $4,212,000 after buying an additional 845 shares in the last quarter. Trajan Wealth LLC acquired a new position in shares of Reynolds Consumer Products during the 3rd quarter worth $206,000. Abich Financial Wealth Management LLC raised its holdings in shares of Reynolds Consumer Products by 21.3% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 2,357 shares of the company’s stock worth $73,000 after buying an additional 414 shares in the last quarter. Finally, Pallas Capital Advisors LLC acquired a new position in shares of Reynolds Consumer Products during the 3rd quarter worth $277,000. 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.