Analysts Set Reynolds Consumer Products Inc. (NASDAQ:REYN) Target Price at $32.17

Reynolds Consumer Products Inc. (NASDAQ:REYN) has earned an average rating of “Hold” from the six research firms that are presently covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $32.17.

A number of brokerages have recently issued reports on REYN. JPMorgan Chase & Co. increased their target price on Reynolds Consumer Products from $29.00 to $33.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Canaccord Genuity Group upped their price target on shares of Reynolds Consumer Products from $30.00 to $32.00 and gave the company a “hold” rating in a report on Thursday, August 8th. Barclays decreased their price objective on Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Royal Bank of Canada raised their target price on shares of Reynolds Consumer Products from $31.00 to $32.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 8th. Finally, Jefferies Financial Group began coverage on Reynolds Consumer Products in a report on Thursday, August 29th. They issued a “buy” rating and a $38.00 price target for the company.

Insider Activity at Reynolds Consumer Products

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 stock was acquired at an average price of $27.58 per share, for a total transaction of $32,820.20. Following the completion of the purchase, the director now owns 1,190 shares in the company, valued at approximately $32,820.20. This represents a ∞ 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 Rolf Stangl purchased 7,207 shares of Reynolds Consumer Products stock in a transaction dated Friday, November 1st. The shares were bought at an average cost of $27.25 per share, for a total transaction of $196,390.75. Following the transaction, the director now directly owns 7,207 shares of the company’s stock, valued at approximately $196,390.75. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. GAMMA Investing LLC raised its stake in Reynolds Consumer Products by 510.2% during the second quarter. GAMMA Investing LLC now owns 958 shares of the company’s stock worth $27,000 after acquiring an additional 801 shares during the period. True Wealth Design LLC acquired a new stake in shares of Reynolds Consumer Products during the 3rd quarter worth approximately $29,000. Versant Capital Management Inc bought a new stake in shares of Reynolds Consumer Products in the 2nd quarter worth approximately $39,000. Abich Financial Wealth Management LLC acquired a new position in Reynolds Consumer Products during the 2nd quarter valued at approximately $54,000. Finally, Capital Performance Advisors LLP bought a new position in Reynolds Consumer Products during the 3rd quarter worth $70,000. 26.81% of the stock is currently owned by institutional investors.

Reynolds Consumer Products Stock Down 0.1 %

Reynolds Consumer Products stock opened at $27.61 on Friday. The company has a market capitalization of $5.80 billion, a P/E ratio of 15.78 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. Reynolds Consumer Products has a fifty-two week low of $25.80 and a fifty-two week high of $32.65. The stock has a 50-day simple moving average of $29.44 and a 200-day simple moving average of $29.11.

Reynolds Consumer Products (NASDAQ:REYN) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). Reynolds Consumer Products had a net margin of 10.03% and a return on equity of 18.27%. The business had revenue of $910.00 million during the quarter, compared to analyst estimates of $902.88 million. During the same quarter in the prior year, the firm posted $0.37 earnings per share. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. Equities research analysts expect that Reynolds Consumer Products will post 1.69 earnings per share for the current year.

Reynolds Consumer Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.92 annualized dividend and a yield of 3.33%. Reynolds Consumer Products’s dividend payout ratio is currently 52.57%.

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.