Analysts Set Reynolds Consumer Products Inc. (NASDAQ:REYN) Target Price at $32.33

Reynolds Consumer Products Inc. (NASDAQ:REYN) has received an average recommendation of “Hold” from the six research firms that are covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $32.33.

A number of brokerages have commented on REYN. JPMorgan Chase & Co. upped their target price on shares of Reynolds Consumer Products from $29.00 to $33.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Jefferies Financial Group began coverage on shares of Reynolds Consumer Products in a research note on Thursday, August 29th. They issued a “buy” rating and a $38.00 target price on the stock. Canaccord Genuity Group upped their target price on shares of Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a “hold” rating in a research note on Thursday, August 8th. Barclays upped their target price on shares of Reynolds Consumer Products from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 8th. Finally, Royal Bank of Canada upped 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 note on Thursday, August 8th.

Institutional Investors Weigh In On Reynolds Consumer Products

Several hedge funds have recently modified their holdings of the business. Park Avenue Securities LLC lifted its position in shares of Reynolds Consumer Products by 2.8% in the 1st quarter. Park Avenue Securities LLC now owns 12,959 shares of the company’s stock worth $370,000 after purchasing an additional 359 shares during the period. Ariel Investments LLC lifted its position in Reynolds Consumer Products by 7.0% during the first quarter. Ariel Investments LLC now owns 7,136 shares of the company’s stock valued at $204,000 after acquiring an additional 466 shares during the last quarter. Covestor Ltd lifted its position in Reynolds Consumer Products by 15.8% during the first quarter. Covestor Ltd now owns 3,520 shares of the company’s stock valued at $101,000 after acquiring an additional 480 shares during the last quarter. Crossmark Global Holdings Inc. lifted its position in Reynolds Consumer Products by 4.7% during the second quarter. Crossmark Global Holdings Inc. now owns 12,181 shares of the company’s stock valued at $341,000 after acquiring an additional 550 shares during the last quarter. Finally, Signaturefd LLC lifted its position in Reynolds Consumer Products by 13.0% during the second quarter. Signaturefd LLC now owns 5,287 shares of the company’s stock valued at $148,000 after acquiring an additional 608 shares during the last quarter. Hedge funds and other institutional investors own 26.81% of the company’s stock.

Reynolds Consumer Products Stock Performance

Shares of NASDAQ:REYN opened at $30.00 on Monday. The company has a market capitalization of $6.30 billion, a price-to-earnings ratio of 17.54 and a beta of 0.48. Reynolds Consumer Products has a 12 month low of $24.85 and a 12 month high of $32.65. The firm’s 50-day moving average is $30.88 and its 200 day moving average is $29.19. The company has a current ratio of 2.13, a quick ratio of 1.01 and a debt-to-equity ratio of 0.87.

Reynolds Consumer Products (NASDAQ:REYN) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.44 by $0.02. The company had revenue of $930.00 million for the quarter, compared to the consensus estimate of $890.71 million. Reynolds Consumer Products had a net margin of 9.74% and a return on equity of 18.27%. The firm’s revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.32 EPS. Research analysts predict that Reynolds Consumer Products will post 1.7 EPS for the current year.

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.