Barclays Lowers Reynolds Consumer Products (NASDAQ:REYN) Price Target to $25.00

Reynolds Consumer Products (NASDAQ:REYN) had its target price lowered by research analysts at Barclays from $27.00 to $25.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price target indicates a potential upside of 0.12% from the stock’s previous close.

A number of other analysts have also recently issued reports on the company. UBS Group cut their price objective on Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $32.00 price objective on shares of Reynolds Consumer Products in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. cut their price objective on Reynolds Consumer Products from $30.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $30.38.

Reynolds Consumer Products Stock Performance

Shares of NASDAQ REYN opened at $24.97 on Thursday. Reynolds Consumer Products has a 52 week low of $24.79 and a 52 week high of $32.65. The stock has a market capitalization of $5.25 billion, a PE ratio of 14.27 and a beta of 0.50. The stock has a 50 day moving average price of $27.26 and a 200 day moving average price of $28.78. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 2.04.

Reynolds Consumer Products (NASDAQ:REYN) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.58 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.58. Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 10.03%. 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 on Thursday, December 19th. The shares were purchased at an average price of $27.50 per share, for a total transaction of $101,255.00. Following the purchase, the director now directly owns 10,889 shares in the company, valued at approximately $299,447.50. The trade was a 51.09 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Helen Golding acquired 1,190 shares of the stock in a transaction on Thursday, November 14th. The shares were bought at an average price of $27.58 per share, for a total transaction of $32,820.20. Following the purchase, the director now owns 1,190 shares in the company, valued at approximately $32,820.20. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Reynolds Consumer Products

A number of hedge funds have recently added to or reduced their stakes in REYN. Allspring Global Investments Holdings LLC increased its stake in shares of Reynolds Consumer Products by 1.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 13,107,822 shares of the company’s stock valued at $351,564,000 after purchasing an additional 182,353 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Reynolds Consumer Products by 13.0% in the 4th quarter. Bank of New York Mellon Corp now owns 1,211,805 shares of the company’s stock valued at $32,707,000 after purchasing an additional 139,576 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Reynolds Consumer Products by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 591,906 shares of the company’s stock valued at $15,976,000 after purchasing an additional 19,044 shares during the last quarter. Verition Fund Management LLC bought a new position in shares of Reynolds Consumer Products in the 3rd quarter valued at $12,844,000. Finally, Olstein Capital Management L.P. increased its stake in shares of Reynolds Consumer Products by 43.3% in the 4th quarter. Olstein Capital Management L.P. now owns 237,000 shares of the company’s stock valued at $6,397,000 after purchasing an additional 71,624 shares during the last quarter. Institutional investors own 26.81% of the company’s stock.

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.