Reynolds Consumer Products (NASDAQ:REYN) PT Raised to $29.00 at Barclays

Reynolds Consumer Products (NASDAQ:REYN) had its price objective boosted by equities research analysts at Barclays from $28.00 to $29.00 in a research report issued on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price objective points to a potential downside of 1.23% from the stock’s current price.

Several other equities analysts have also recently commented on the stock. Canaccord Genuity Group boosted their price objective on shares of Reynolds Consumer Products from $29.00 to $30.00 and gave the company a “hold” rating in a research note on Thursday. JPMorgan Chase & Co. increased their price objective on Reynolds Consumer Products from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. TheStreet raised Reynolds Consumer Products from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st. Royal Bank of Canada restated a “sector perform” rating and issued a $31.00 target price on shares of Reynolds Consumer Products in a research note on Wednesday, March 20th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $30.00 price target on shares of Reynolds Consumer Products in a research report on Wednesday, March 20th. Six analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $30.00.

Reynolds Consumer Products Trading Up 0.3 %

Shares of REYN stock opened at $29.36 on Friday. The stock has a market capitalization of $6.17 billion, a price-to-earnings ratio of 18.70 and a beta of 0.48. The company’s fifty day simple moving average is $28.57 and its two-hundred day simple moving average is $27.61. Reynolds Consumer Products has a 1 year low of $24.80 and a 1 year high of $30.54. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.11 and a quick ratio of 1.08.

Reynolds Consumer Products (NASDAQ:REYN) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. The company had revenue of $833.00 million for the quarter, compared to analyst estimates of $814.92 million. Reynolds Consumer Products had a return on equity of 17.09% and a net margin of 8.88%. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.08 EPS. As a group, analysts anticipate that Reynolds Consumer Products will post 1.67 earnings per share for the current year.

Hedge Funds Weigh In On Reynolds Consumer Products

Several institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp grew its position in Reynolds Consumer Products by 6.4% during the third quarter. Bank of New York Mellon Corp now owns 595,402 shares of the company’s stock valued at $15,260,000 after acquiring an additional 35,595 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Reynolds Consumer Products by 10.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,801 shares of the company’s stock valued at $328,000 after purchasing an additional 1,210 shares during the last quarter. Park Avenue Securities LLC raised its position in Reynolds Consumer Products by 13.6% in the 3rd quarter. Park Avenue Securities LLC now owns 12,058 shares of the company’s stock worth $309,000 after purchasing an additional 1,443 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. lifted its stake in Reynolds Consumer Products by 5.8% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 135,335 shares of the company’s stock worth $3,469,000 after purchasing an additional 7,363 shares during the last quarter. Finally, Barclays PLC boosted its position in Reynolds Consumer Products by 2.3% during the third quarter. Barclays PLC now owns 27,586 shares of the company’s stock valued at $707,000 after buying an additional 632 shares during the period. 26.81% of the stock is currently 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.