Barclays Has Lowered Expectations for Reynolds Consumer Products (NASDAQ:REYN) Stock Price

Reynolds Consumer Products (NASDAQ:REYN) had its price objective decreased by equities researchers at Barclays from $29.00 to $28.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price suggests a potential upside of 2.87% from the stock’s previous close.

Several other research analysts also recently commented on REYN. Royal Bank of Canada raised their price objective on shares of Reynolds Consumer Products from $31.00 to $32.00 and gave the stock a “sector perform” rating in a report on Thursday, August 8th. Jefferies Financial Group began coverage on Reynolds Consumer Products in a research report on Thursday, August 29th. They issued a “buy” rating and a $38.00 price target for the company. Canaccord Genuity Group increased their price objective on Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. lifted their target price on Reynolds Consumer Products from $29.00 to $33.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $32.17.

Reynolds Consumer Products Trading Up 1.0 %

NASDAQ:REYN opened at $27.22 on Thursday. The firm’s 50 day moving average is $30.64 and its 200 day moving average is $29.20. Reynolds Consumer Products has a 12 month low of $25.29 and a 12 month high of $32.65. The stock has a market capitalization of $5.72 billion, a PE ratio of 15.55 and a beta of 0.48. 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 earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.01). The firm had revenue of $910.00 million during the quarter, compared to the consensus estimate of $902.88 million. Reynolds Consumer Products had a net margin of 10.03% and a return on equity of 18.41%. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.37 earnings per share. Sell-side analysts expect that Reynolds Consumer Products will post 1.69 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Reynolds Consumer Products by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 5,663,147 shares of the company’s stock worth $161,739,000 after buying an additional 29,838 shares during the last quarter. Acadian Asset Management LLC raised its position in Reynolds Consumer Products by 994.7% in the 1st quarter. Acadian Asset Management LLC now owns 212,694 shares of the company’s stock worth $6,068,000 after purchasing an additional 193,265 shares during the period. SG Americas Securities LLC purchased a new stake in Reynolds Consumer Products during the second quarter valued at about $695,000. Bank of New York Mellon Corp grew its stake in shares of Reynolds Consumer Products by 7.1% during the second quarter. Bank of New York Mellon Corp now owns 1,006,647 shares of the company’s stock valued at $28,166,000 after buying an additional 66,826 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Reynolds Consumer Products by 18.5% in the second quarter. Sei Investments Co. now owns 612,775 shares of the company’s stock worth $17,146,000 after buying an additional 95,469 shares during the period. 26.81% of the stock is currently owned by 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.