Canaccord Genuity Group Issues Pessimistic Forecast for Reynolds Consumer Products (NASDAQ:REYN) Stock Price

Reynolds Consumer Products (NASDAQ:REYN) had its price target cut by equities research analysts at Canaccord Genuity Group from $31.00 to $30.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “hold” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 20.14% from the stock’s current price.

A number of other equities analysts also recently weighed in on the stock. Barclays dropped their price target on shares of Reynolds Consumer Products from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Thursday. Evercore ISI cut their price target on Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday. JPMorgan Chase & Co. lowered their price target on 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. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $32.00 price objective on shares of Reynolds Consumer Products in a research report on Monday, February 3rd. Finally, UBS Group decreased their target price on shares of 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. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $30.38.

Reynolds Consumer Products Trading Up 0.6 %

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

Reynolds Consumer Products (NASDAQ:REYN) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.58 EPS for the quarter, hitting the consensus estimate of $0.58. Reynolds Consumer Products had a net margin of 10.03% and a return on equity of 18.27%. As a group, analysts predict that Reynolds Consumer Products will post 1.69 earnings per share for the current fiscal year.

Insider Activity at Reynolds Consumer Products

In other Reynolds Consumer Products news, Director Helen Golding purchased 1,190 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was bought at an average cost of $27.58 per share, for a total transaction of $32,820.20. Following the completion of the acquisition, the director now directly owns 1,190 shares in the company, valued at $32,820.20. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rolf Stangl acquired 3,682 shares of Reynolds Consumer Products stock in a transaction dated Thursday, December 19th. The stock was acquired at an average cost of $27.50 per share, with a total value of $101,255.00. Following the completion of the transaction, the director now directly owns 10,889 shares of the company’s stock, valued at $299,447.50. This trade represents a 51.09 % increase in their position. The disclosure for this purchase can be found here. 0.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in REYN. True Wealth Design LLC acquired a new stake in Reynolds Consumer Products during the third quarter worth about $29,000. Blue Trust Inc. grew its holdings in shares of Reynolds Consumer Products by 115.2% during the 4th quarter. Blue Trust Inc. now owns 1,304 shares of the company’s stock worth $35,000 after purchasing an additional 698 shares in the last quarter. Eagle Bay Advisors LLC bought a new stake in shares of Reynolds Consumer Products during the fourth quarter valued at approximately $40,000. Capital Performance Advisors LLP acquired a new position in shares of Reynolds Consumer Products in the third quarter valued at $70,000. Finally, Abich Financial Wealth Management LLC lifted its position in 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. Institutional investors and hedge funds own 26.81% of the company’s stock.

Reynolds Consumer Products Company Profile

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.