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

Reynolds Consumer Products Inc. (NASDAQ:REYN) has been assigned an average recommendation of “Hold” from the six ratings firms that are covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $32.17.

Separately, Barclays decreased their price objective on shares of Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st.

Reynolds Consumer Products Price Performance

Shares of Reynolds Consumer Products stock opened at $25.93 on Friday. The company’s fifty day simple moving average is $27.52 and its two-hundred day simple moving average is $28.88. Reynolds Consumer Products has a 12-month low of $25.88 and a 12-month high of $32.65. The firm has a market cap of $5.45 billion, a PE ratio of 14.82 and a beta of 0.50. The company has a quick ratio of 0.89, a current ratio of 2.04 and a debt-to-equity ratio of 0.84.

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

Reynolds Consumer Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.55%. The ex-dividend date of this dividend was Friday, November 15th. Reynolds Consumer Products’s payout ratio is currently 52.57%.

Insiders Place Their Bets

In other Reynolds Consumer Products news, Director Helen Golding purchased 1,190 shares of the business’s stock in a transaction 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 purchase, the director now owns 1,190 shares of the company’s stock, valued at approximately $32,820.20. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Rolf Stangl acquired 7,207 shares of the stock in a transaction dated Friday, November 1st. The stock was acquired at an average price of $27.25 per share, for a total transaction of $196,390.75. Following the completion of the transaction, the director now directly owns 7,207 shares of the company’s stock, valued at approximately $196,390.75. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 12,079 shares of company stock valued at $330,466. Insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Reynolds Consumer Products

A number of institutional investors have recently added to or reduced their stakes in the stock. Abich Financial Wealth Management LLC grew its holdings in shares of 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 valued at $73,000 after purchasing an additional 414 shares in the last quarter. Covestor Ltd grew its stake in shares of Reynolds Consumer Products by 14.8% in the 3rd quarter. Covestor Ltd now owns 4,564 shares of the company’s stock worth $142,000 after buying an additional 588 shares in the last quarter. MML Investors Services LLC increased its holdings in shares of Reynolds Consumer Products by 1.3% in the 3rd quarter. MML Investors Services LLC now owns 48,700 shares of the company’s stock worth $1,515,000 after buying an additional 641 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. raised its position in shares of Reynolds Consumer Products by 0.6% during the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 135,425 shares of the company’s stock valued at $4,212,000 after buying an additional 845 shares in the last quarter. Finally, True Wealth Design LLC bought a new position in shares of Reynolds Consumer Products in the 3rd quarter valued at about $29,000. 26.81% of the stock is 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.