Barclays Has Lowered Expectations for Reynolds Consumer Products (NASDAQ:REYN) Stock Price

Reynolds Consumer Products (NASDAQ:REYN) had its price objective cut by stock analysts at Barclays from $28.00 to $27.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price would indicate a potential downside of 0.33% from the stock’s current price.

A number of other research firms have also commented on REYN. UBS Group reduced their price objective on Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. decreased their price objective on shares of Reynolds Consumer Products from $30.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday. Six investment 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.com, the stock currently has an average rating of “Hold” and an average target price of $30.86.

Reynolds Consumer Products Stock Up 0.9 %

Shares of NASDAQ:REYN opened at $27.09 on Friday. The company has a market capitalization of $5.69 billion, a PE ratio of 15.48 and a beta of 0.50. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 2.04. The company’s fifty day moving average is $27.34 and its 200-day moving average is $28.76. Reynolds Consumer Products has a 52 week low of $25.88 and a 52 week high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN) last posted its quarterly earnings data 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). The firm had revenue of $910.00 million for the quarter, compared to analyst estimates of $902.88 million. Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 10.03%. The business’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.37 EPS. Equities research analysts predict that Reynolds Consumer Products will post 1.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Rolf Stangl acquired 3,682 shares of the stock in a transaction dated Thursday, December 19th. The stock was bought at an average price of $27.50 per share, with a total value of $101,255.00. Following the completion of the transaction, the director now directly owns 10,889 shares of the company’s stock, valued at approximately $299,447.50. The trade was a 51.09 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Helen Golding acquired 1,190 shares of Reynolds Consumer Products stock in a transaction dated Thursday, November 14th. The shares were purchased at an average cost of $27.58 per share, with a total value of $32,820.20. Following the completion of the transaction, the director now directly owns 1,190 shares of the company’s stock, valued at $32,820.20. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 12,079 shares of company stock worth $330,466. Company insiders own 0.20% of the company’s stock.

Institutional Trading of Reynolds Consumer Products

Hedge funds and other institutional investors have recently modified their holdings of the stock. ARGA Investment Management LP bought a new stake in shares of Reynolds Consumer Products in the 3rd quarter valued at about $751,000. Sei Investments Co. raised its stake in Reynolds Consumer Products by 18.5% in the second quarter. Sei Investments Co. now owns 612,775 shares of the company’s stock valued at $17,146,000 after buying an additional 95,469 shares during the period. Pacer Advisors Inc. lifted its position in shares of Reynolds Consumer Products by 48.6% in the second quarter. Pacer Advisors Inc. now owns 3,890,109 shares of the company’s stock valued at $108,845,000 after buying an additional 1,272,353 shares during the last quarter. Barclays PLC boosted its stake in shares of Reynolds Consumer Products by 173.9% during the 3rd quarter. Barclays PLC now owns 63,121 shares of the company’s stock worth $1,963,000 after acquiring an additional 40,075 shares during the period. Finally, AQR Capital Management LLC boosted its stake in shares of Reynolds Consumer Products by 122.7% during the 2nd quarter. AQR Capital Management LLC now owns 1,557,835 shares of the company’s stock worth $43,588,000 after acquiring an additional 858,419 shares during the period. 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.