Reynolds Consumer Products (NASDAQ:REYN) Earns “Sector Perform” Rating from Royal Bank of Canada

Reynolds Consumer Products (NASDAQ:REYN)‘s stock had its “sector perform” rating reissued by research analysts at Royal Bank of Canada in a research note issued on Monday,Benzinga reports. They presently have a $32.00 price target on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 15.04% from the stock’s previous close.

Several other equities research analysts also recently issued reports on REYN. UBS Group lowered their price target on Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. JPMorgan Chase & Co. lowered their price target on Reynolds Consumer Products from $30.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Finally, Barclays lowered their price target on Reynolds Consumer Products from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $30.86.

Reynolds Consumer Products Stock Up 0.7 %

Reynolds Consumer Products stock traded up $0.21 during mid-day trading on Monday, hitting $27.82. 91,161 shares of the company’s stock were exchanged, compared to its average volume of 446,097. The stock has a market cap of $5.85 billion, a P/E ratio of 15.90 and a beta of 0.50. The stock has a 50 day moving average of $27.33 and a two-hundred day moving average of $28.81. Reynolds Consumer Products has a 1-year low of $25.88 and a 1-year high of $32.65. The company has a current ratio of 2.04, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84.

Insider Activity at Reynolds Consumer Products

In other Reynolds Consumer Products news, Director Rolf Stangl purchased 3,682 shares of the business’s stock in a transaction on Thursday, December 19th. The stock was purchased at an average price of $27.50 per share, for a total transaction of $101,255.00. Following the completion of the purchase, the director now directly owns 10,889 shares in the company, valued at approximately $299,447.50. This trade represents a 51.09 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Helen Golding purchased 1,190 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were acquired at an average price of $27.58 per share, with a total value 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 trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Ieq Capital LLC raised its stake in shares of Reynolds Consumer Products by 300.6% in the fourth quarter. Ieq Capital LLC now owns 30,657 shares of the company’s stock valued at $827,000 after acquiring an additional 23,005 shares during the last quarter. Global Retirement Partners LLC raised its stake in shares of Reynolds Consumer Products by 29.5% in the fourth quarter. Global Retirement Partners LLC now owns 6,953 shares of the company’s stock valued at $188,000 after acquiring an additional 1,584 shares during the last quarter. Venturi Wealth Management LLC raised its stake in shares of Reynolds Consumer Products by 36.0% in the fourth quarter. Venturi Wealth Management LLC now owns 3,482 shares of the company’s stock valued at $94,000 after acquiring an additional 921 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Reynolds Consumer Products by 1.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 13,107,822 shares of the company’s stock valued at $351,564,000 after acquiring an additional 182,353 shares during the last quarter. Finally, Kestra Private Wealth Services LLC raised its stake in shares of Reynolds Consumer Products by 5.2% in the fourth quarter. Kestra Private Wealth Services LLC now owns 16,419 shares of the company’s stock valued at $443,000 after acquiring an additional 814 shares during the last quarter. Institutional investors own 26.81% of the company’s stock.

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.