Royal Bank of Canada Reaffirms Sector Perform Rating for Reynolds Consumer Products (NASDAQ:REYN)

Reynolds Consumer Products (NASDAQ:REYN)‘s stock had its “sector perform” rating reaffirmed by stock analysts at Royal Bank of Canada in a research note issued on Monday,Benzinga reports. They currently have a $32.00 price target on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 15.07% from the company’s previous close.

Several other analysts have also commented on REYN. UBS Group lowered their price target on shares of Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. JPMorgan Chase & Co. cut their target price on shares of Reynolds Consumer Products from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Finally, Barclays decreased their price target on shares of Reynolds Consumer Products from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $30.86.

Reynolds Consumer Products Stock Down 1.1 %

Reynolds Consumer Products stock opened at $27.81 on Monday. The stock’s 50 day moving average price is $27.34 and its 200 day moving average price is $28.82. The company has a market cap of $5.84 billion, a PE ratio of 15.89 and a beta of 0.50. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.04 and a quick ratio of 0.89. Reynolds Consumer Products has a 1-year low of $25.88 and a 1-year high of $32.65.

Insider Buying and Selling

In related news, Director Helen Golding purchased 1,190 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The shares were purchased at an average price of $27.58 per share, with a total value of $32,820.20. Following the purchase, the director now owns 1,190 shares of the company’s stock, valued at $32,820.20. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Rolf Stangl purchased 3,682 shares of Reynolds Consumer Products stock in a transaction that occurred on Thursday, December 19th. The stock was purchased at an average price of $27.50 per share, with a total value of $101,255.00. Following the transaction, the director now owns 10,889 shares in the company, valued at $299,447.50. This represents a 51.09 % increase in their position. The disclosure for this purchase can be found here. 0.20% of the stock is owned by corporate insiders.

Institutional Trading of Reynolds Consumer Products

Several large investors have recently added to or reduced their stakes in the business. True Wealth Design LLC acquired a new position in Reynolds Consumer Products during the third quarter valued at approximately $29,000. Blue Trust Inc. raised its holdings in Reynolds Consumer Products by 115.2% in the 4th quarter. Blue Trust Inc. now owns 1,304 shares of the company’s stock worth $35,000 after acquiring an additional 698 shares during the period. Eagle Bay Advisors LLC bought a new stake in Reynolds Consumer Products during the fourth quarter valued at about $40,000. Capital Performance Advisors LLP acquired a new stake in shares of Reynolds Consumer Products in the third quarter valued at about $70,000. Finally, Abich Financial Wealth Management LLC increased its stake in shares of Reynolds Consumer Products by 21.3% in the third quarter. Abich Financial Wealth Management LLC now owns 2,357 shares of the company’s stock worth $73,000 after purchasing an additional 414 shares during the period. 26.81% of the stock is owned by institutional investors.

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.