Reynolds Consumer Products Inc. (NASDAQ:REYN) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) have been assigned a consensus recommendation of “Hold” from the six ratings firms that are currently covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $32.33.

A number of research firms have weighed in on REYN. Canaccord Genuity Group raised their target price on shares of Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a “hold” rating in a research note on Thursday, August 8th. Royal Bank of Canada boosted their price objective on Reynolds Consumer Products from $31.00 to $32.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 8th. Barclays raised their target price on Reynolds Consumer Products from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. boosted their price target on shares of Reynolds Consumer Products from $29.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Finally, Jefferies Financial Group initiated coverage on shares of Reynolds Consumer Products in a research report on Thursday, August 29th. They set a “buy” rating and a $38.00 price objective for the company.

Institutional Trading of Reynolds Consumer Products

Several institutional investors and hedge funds have recently bought and sold shares of REYN. GAMMA Investing LLC increased its position in shares of Reynolds Consumer Products by 510.2% during the second quarter. GAMMA Investing LLC now owns 958 shares of the company’s stock valued at $27,000 after acquiring an additional 801 shares during the last quarter. Versant Capital Management Inc purchased a new position in shares of Reynolds Consumer Products during the 2nd quarter worth approximately $39,000. Abich Financial Wealth Management LLC acquired a new stake in Reynolds Consumer Products in the 2nd quarter valued at approximately $54,000. Parallel Advisors LLC increased its holdings in Reynolds Consumer Products by 26.9% in the 4th quarter. Parallel Advisors LLC now owns 2,288 shares of the company’s stock valued at $61,000 after purchasing an additional 485 shares during the last quarter. Finally, nVerses Capital LLC purchased a new stake in Reynolds Consumer Products in the second quarter valued at approximately $90,000. 26.81% of the stock is currently owned by hedge funds and other institutional investors.

Reynolds Consumer Products Stock Performance

NASDAQ REYN opened at $30.14 on Thursday. 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 stock’s 50 day simple moving average is $30.54 and its 200-day simple moving average is $29.03. The company has a market cap of $6.33 billion, a PE ratio of 19.20 and a beta of 0.48. Reynolds Consumer Products has a 1-year low of $24.80 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 (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.02. The company had revenue of $930.00 million for the quarter, compared to analysts’ expectations of $890.71 million. Reynolds Consumer Products had a net margin of 9.74% and a return on equity of 18.27%. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.32 EPS. As a group, equities research analysts anticipate that Reynolds Consumer Products will post 1.69 EPS for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date of this dividend was Friday, August 16th. Reynolds Consumer Products’s payout ratio is 58.60%.

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.