Evercore ISI Cuts Reynolds Consumer Products (NASDAQ:REYN) Price Target to $30.00

Reynolds Consumer Products (NASDAQ:REYN) had its price objective reduced by Evercore ISI from $33.00 to $30.00 in a report released on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other brokerages have also weighed in on REYN. Barclays cut their target price on shares of Reynolds Consumer Products from $27.00 to $25.00 and set an “equal weight” rating for the company in a research report on Thursday. JPMorgan Chase & Co. reduced their price objective on shares of 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 issued a $32.00 price target on shares of Reynolds Consumer Products in a report on Monday. Finally, UBS Group decreased their price objective on 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. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $30.38.

Reynolds Consumer Products Trading Down 6.8 %

Shares of REYN stock opened at $24.82 on Thursday. The company has a quick ratio of 0.89, a current ratio of 2.04 and a debt-to-equity ratio of 0.84. The firm has a market cap of $5.22 billion, a P/E ratio of 14.18 and a beta of 0.50. The company has a 50 day moving average of $27.32 and a 200-day moving average of $28.81. Reynolds Consumer Products has a 12-month low of $24.79 and a 12-month high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN) last released its earnings results on Wednesday, February 5th. The company reported $0.58 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.58. Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 10.03%. Sell-side analysts anticipate that Reynolds Consumer Products will post 1.69 earnings per share for the current year.

Reynolds Consumer Products Announces Dividend

The firm also recently disclosed 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 3.71%. The ex-dividend date is Friday, February 14th. Reynolds Consumer Products’s dividend payout ratio is 52.57%.

Insiders Place Their Bets

In other Reynolds Consumer Products news, Director Rolf Stangl acquired 3,682 shares of the business’s stock in a transaction dated Thursday, December 19th. The stock was bought at an average price of $27.50 per share, with a total value of $101,255.00. Following the completion of the acquisition, the director now owns 10,889 shares of the company’s stock, valued at $299,447.50. This trade represents a 51.09 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Helen Golding bought 1,190 shares of the stock in a transaction that occurred on 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 purchase, the director now directly owns 1,190 shares of the company’s stock, valued at $32,820.20. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. True Wealth Design LLC purchased a new stake in shares of Reynolds Consumer Products in the 3rd quarter valued at $29,000. Blue Trust Inc. boosted its position in Reynolds Consumer Products by 115.2% during 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 during the period. Eagle Bay Advisors LLC bought a new position in shares of Reynolds Consumer Products during the fourth quarter valued at about $40,000. Capital Performance Advisors LLP bought a new position in shares of Reynolds Consumer Products during the third quarter valued at about $70,000. Finally, Abich Financial Wealth Management LLC lifted its stake in shares of Reynolds Consumer Products by 21.3% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 2,357 shares of the company’s stock valued at $73,000 after acquiring an additional 414 shares during the last quarter. 26.81% of the stock is owned by hedge funds and other institutional investors.

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.