Reynolds Consumer Products (NASDAQ:REYN) Price Target Cut to $27.00 by Analysts at Barclays

Reynolds Consumer Products (NASDAQ:REYN) had its price objective decreased by analysts at Barclays from $28.00 to $27.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price points to a potential downside of 0.63% from the company’s current price.

Other analysts have also recently issued reports about the company. UBS Group reduced their price target on Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Thursday. JPMorgan Chase & Co. dropped their target price on shares of Reynolds Consumer Products from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Reynolds Consumer Products has a consensus rating of “Hold” and an average price target of $30.86.

Reynolds Consumer Products Stock Performance

REYN traded up $0.33 on Friday, hitting $27.17. 132,049 shares of the company traded hands, compared to its average volume of 445,594. The company has a 50 day moving average of $27.35 and a 200-day moving average of $28.76. Reynolds Consumer Products has a 12-month low of $25.88 and a 12-month high of $32.65. The stock has a market capitalization of $5.71 billion, a PE ratio of 15.53 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 released its quarterly earnings results on Wednesday, October 30th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.01). Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 10.03%. The company had revenue of $910.00 million for the quarter, compared to analysts’ expectations of $902.88 million. During the same quarter last year, the company earned $0.37 EPS. Reynolds Consumer Products’s revenue for the quarter was down 2.7% compared to the same quarter last year. Sell-side analysts anticipate that Reynolds Consumer Products will post 1.69 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Rolf Stangl acquired 7,207 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average price of $27.25 per share, for a total transaction of $196,390.75. Following the transaction, the director now owns 7,207 shares in the company, valued at $196,390.75. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Helen Golding bought 1,190 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was purchased at an average cost of $27.58 per share, with a total value of $32,820.20. Following the purchase, the director now directly owns 1,190 shares in the company, valued at $32,820.20. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 12,079 shares of company stock worth $330,466. Insiders own 0.20% of the company’s stock.

Institutional Trading of Reynolds Consumer Products

Hedge funds have recently bought and sold shares of the company. ARGA Investment Management LP purchased a new stake in Reynolds Consumer Products in the 3rd quarter valued at about $751,000. Sei Investments Co. grew its holdings in Reynolds Consumer Products by 18.5% in the second quarter. Sei Investments Co. now owns 612,775 shares of the company’s stock valued at $17,146,000 after purchasing an additional 95,469 shares during the period. Pacer Advisors Inc. grew its holdings in Reynolds Consumer Products by 48.6% in the second quarter. Pacer Advisors Inc. now owns 3,890,109 shares of the company’s stock valued at $108,845,000 after purchasing an additional 1,272,353 shares during the period. Barclays PLC increased its position in Reynolds Consumer Products by 173.9% during the third quarter. Barclays PLC now owns 63,121 shares of the company’s stock worth $1,963,000 after purchasing an additional 40,075 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in Reynolds Consumer Products by 122.7% during the second quarter. AQR Capital Management LLC now owns 1,557,835 shares of the company’s stock worth $43,588,000 after purchasing an additional 858,419 shares during the period. Institutional investors and hedge funds own 26.81% of the company’s stock.

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.