Barclays Increases Reynolds Consumer Products (NASDAQ:REYN) Price Target to $28.00

Reynolds Consumer Products (NASDAQ:REYN) had its price target upped by investment analysts at Barclays from $27.00 to $28.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s target price would suggest a potential downside of 0.92% from the company’s current price.

A number of other research firms have also commented on REYN. JPMorgan Chase & Co. raised their price objective on shares of Reynolds Consumer Products from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. Stifel Nicolaus reiterated a “hold” rating and set a $30.00 price objective on shares of Reynolds Consumer Products in a research note on Wednesday, March 20th. Royal Bank of Canada reiterated a “sector perform” rating and set a $31.00 price objective on shares of Reynolds Consumer Products in a research note on Wednesday, March 20th. Finally, TheStreet upgraded shares of Reynolds Consumer Products from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $29.80.

Reynolds Consumer Products Stock Performance

REYN opened at $28.26 on Friday. The business’s 50 day moving average is $28.71 and its 200-day moving average is $27.21. The stock has a market cap of $5.94 billion, a PE ratio of 19.90 and a beta of 0.49. The company has a current ratio of 2.18, a quick ratio of 1.08 and a debt-to-equity ratio of 0.92. Reynolds Consumer Products has a twelve month low of $24.80 and a twelve month high of $30.54.

Reynolds Consumer Products (NASDAQ:REYN) last released its quarterly earnings results on Wednesday, February 7th. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.03. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Reynolds Consumer Products had a return on equity of 15.77% and a net margin of 7.98%. The business’s revenue for the quarter was down 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 earnings per share. On average, analysts predict that Reynolds Consumer Products will post 1.61 earnings per share for the current year.

Hedge Funds Weigh In On Reynolds Consumer Products

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its position in Reynolds Consumer Products by 0.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 12,891,557 shares of the company’s stock worth $346,009,000 after purchasing an additional 41,949 shares in the last quarter. FMR LLC boosted its stake in shares of Reynolds Consumer Products by 7.4% during the 3rd quarter. FMR LLC now owns 6,454,619 shares of the company’s stock valued at $165,432,000 after buying an additional 442,654 shares during the period. Vanguard Group Inc. boosted its stake in shares of Reynolds Consumer Products by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 5,633,309 shares of the company’s stock valued at $151,198,000 after buying an additional 25,597 shares during the period. First Trust Advisors LP boosted its stake in shares of Reynolds Consumer Products by 5.9% during the 1st quarter. First Trust Advisors LP now owns 2,805,066 shares of the company’s stock valued at $77,139,000 after buying an additional 155,206 shares during the period. Finally, BlackRock Inc. boosted its stake in shares of Reynolds Consumer Products by 0.5% during the 2nd quarter. BlackRock Inc. now owns 2,570,003 shares of the company’s stock valued at $72,603,000 after buying an additional 13,347 shares during the period. 26.81% of the stock is currently owned by hedge funds and other 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.