Reynolds Consumer Products (NASDAQ:REYN) Price Target Lowered to $27.00 at Barclays
Barclays has lowered its price target for Reynolds Consumer Products (NASDAQ:REYN) from $28.00 to $27.00, maintaining an "equal weight" rating. This indicates a potential downside of 0.63% from the stock's previous close. Other analysts, including JPMorgan and UBS, have also reduced their price targets. The stock is currently trading at $27.17, with an average rating of "Hold" and a consensus target price of $30.86. The company reported earnings of $0.41 per share, slightly missing estimates, and revenue of $910 million, down 2.7% year-over-year.
Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) had its price objective lowered by research analysts at Barclays from $28.00 to $27.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Barclays's price objective indicates a potential downside of 0.63% from the stock's previous close.
- Reynolds Consumer Products High Yield Bought on the Dip
REYN has been the topic of several other research reports. JPMorgan Chase & Co. reduced their price target on shares of Reynolds Consumer Products from $30.00 to $28.00 and set a "neutral" rating on the stock in a research report on Thursday. UBS Group reduced their target price on Reynolds Consumer Products from $30.00 to $29.00 and set a "neutral" rating on the stock in a research report on Thursday. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $30.86.
Check Out Our Latest Stock Analysis on Reynolds Consumer Products
Reynolds Consumer Products Trading Up 1.2 %
- Inflation Hasn’t Peaked At Reynolds Consumer Products
NASDAQ REYN traded up $0.33 on Friday, reaching $27.17. 132,049 shares of the company were exchanged, compared to its average volume of 445,594. The company has a current ratio of 2.04, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84. The business's fifty day moving average price is $27.35 and its 200 day moving average price is $28.76. The stock has a market capitalization of $5.71 billion, a P/E ratio of 15.53 and a beta of 0.50. Reynolds Consumer Products has a fifty-two week low of $25.88 and a fifty-two week high of $32.65.
Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.01). Reynolds Consumer Products had a net margin of 10.03% and a return on equity of 18.27%. The firm had revenue of $910.00 million for the quarter, compared to analyst estimates of $902.88 million. During the same period in the previous year, the firm posted $0.37 EPS. The company's revenue was down 2.7% compared to the same quarter last year. Analysts forecast that Reynolds Consumer Products will post 1.69 earnings per share for the current year.
Insider Transactions at Reynolds Consumer Products
- Building A Base In Reynolds Consumer Products NASDAQ: REYN
In other Reynolds Consumer Products news, Director Rolf Stangl bought 3,682 shares of the company's stock in a transaction that occurred on Thursday, December 19th. The shares were purchased at an average price of $27.50 per share, with a total value of $101,255.00. Following the completion of the acquisition, the director now directly owns 10,889 shares of the company's stock, valued at $299,447.50. This represents a 51.09 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Helen Golding purchased 1,190 shares of the firm's stock in a transaction on Thursday, November 14th. The shares were acquired at an average cost of $27.58 per share, with a total value of $32,820.20. Following the completion of the acquisition, the director now directly owns 1,190 shares in the company, valued at $32,820.20. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 12,079 shares of company stock valued at $330,466. 0.20% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Reynolds Consumer Products
Several institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers boosted its stake in Reynolds Consumer Products by 18.9% in the second quarter. Rhumbline Advisers now owns 69,147 shares of the company's stock valued at $1,935,000 after acquiring an additional 10,987 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Reynolds Consumer Products by 188.8% in the 2nd quarter. American Century Companies Inc. now owns 280,137 shares of the company's stock valued at $7,838,000 after purchasing an additional 183,125 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Reynolds Consumer Products by 1.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 252,761 shares of the company's stock valued at $7,072,000 after purchasing an additional 2,763 shares during the period. Dimensional Fund Advisors LP grew its stake in Reynolds Consumer Products by 17.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,781,815 shares of the company's stock worth $49,859,000 after buying an additional 261,513 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in Reynolds Consumer Products by 22.2% during the second quarter. Renaissance Technologies LLC now owns 304,705 shares of the company's stock worth $8,526,000 after buying an additional 55,405 shares during the period. Hedge funds and other institutional investors own 26.81% of the company's stock.
About Reynolds Consumer Products
(Get Free Report)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.
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