Brokerages Set Reynolds Consumer Products Inc. (NASDAQ:REYN) Target Price at $30.38

Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) have been assigned a consensus rating of “Hold” from the eight ratings firms that are covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $30.38.

REYN has been the subject of several recent research reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $32.00 price target on shares of Reynolds Consumer Products in a research note on Monday, February 3rd. Stifel Nicolaus decreased their target price on shares of Reynolds Consumer Products from $32.00 to $31.00 and set a “hold” rating for the company in a research report on Thursday, February 6th. Canaccord Genuity Group dropped their price target on shares of Reynolds Consumer Products from $31.00 to $30.00 and set a “hold” rating on the stock in a research report on Thursday, February 6th. UBS Group reduced their price objective on shares of Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Finally, Evercore ISI lowered their target price on shares of Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, February 6th.

Insiders Place Their Bets

In other news, Director Rolf Stangl purchased 6,000 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were acquired at an average cost of $24.89 per share, with a total value of $149,340.00. Following the purchase, the director now owns 16,889 shares in the company, valued at $420,367.21. This represents a 55.10 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Reynolds Consumer Products

Several hedge funds and other institutional investors have recently modified their holdings of the company. True Wealth Design LLC acquired a new stake in Reynolds Consumer Products in the 3rd quarter valued at $29,000. Blue Trust Inc. lifted its stake in shares of Reynolds Consumer Products by 115.2% in the fourth quarter. Blue Trust Inc. now owns 1,304 shares of the company’s stock valued at $35,000 after buying an additional 698 shares in the last quarter. Eagle Bay Advisors LLC acquired a new position in shares of Reynolds Consumer Products during the fourth quarter valued at about $40,000. Quarry LP increased its position in shares of Reynolds Consumer Products by 187.0% during the fourth quarter. Quarry LP now owns 2,531 shares of the company’s stock worth $68,000 after acquiring an additional 1,649 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Reynolds Consumer Products in the 3rd quarter worth about $70,000. Institutional investors own 26.81% of the company’s stock.

Reynolds Consumer Products Stock Performance

Shares of REYN stock opened at $25.34 on Friday. The firm has a market capitalization of $5.33 billion, a price-to-earnings ratio of 15.08 and a beta of 0.50. The company has a current ratio of 2.04, a quick ratio of 0.99 and a debt-to-equity ratio of 0.79. The business’s 50-day moving average price is $26.35 and its 200-day moving average price is $28.44. Reynolds Consumer Products has a 12 month low of $23.61 and a 12 month high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN) last posted its 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 9.56% and a return on equity of 17.14%. Equities research analysts forecast that Reynolds Consumer Products will post 1.66 EPS for the current year.

Reynolds Consumer Products Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.63%. The ex-dividend date is Friday, February 14th. Reynolds Consumer Products’s dividend payout ratio is presently 54.76%.

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.