Canaccord Genuity Group Cuts Reynolds Consumer Products (NASDAQ:REYN) Price Target to $30.00

Reynolds Consumer Products (NASDAQ:REYN) had its price objective dropped by stock analysts at Canaccord Genuity Group from $31.00 to $30.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Canaccord Genuity Group’s price target points to a potential upside of 20.14% from the company’s previous close.

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. reduced their price target on shares of 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. Stifel Nicolaus reduced their target price on Reynolds Consumer Products from $32.00 to $31.00 and set a “hold” rating on the stock in a report on Thursday. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $32.00 price target on shares of Reynolds Consumer Products in a report on Monday, February 3rd. Evercore ISI reduced their price objective on Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, UBS Group decreased their target price on Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $30.38.

Reynolds Consumer Products Trading Up 0.6 %

Shares of REYN opened at $24.97 on Thursday. The company has a current ratio of 2.04, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84. The stock has a market cap of $5.25 billion, a PE ratio of 14.27 and a beta of 0.50. Reynolds Consumer Products has a 1 year low of $24.79 and a 1 year high of $32.65. The stock has a 50 day simple moving average of $27.26 and a 200-day simple moving average of $28.78.

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

Insider Activity at Reynolds Consumer Products

In other Reynolds Consumer Products news, Director Rolf Stangl acquired 3,682 shares of Reynolds Consumer Products stock in a transaction on Thursday, December 19th. The shares were purchased at an average cost of $27.50 per share, with a total value of $101,255.00. Following the completion of the purchase, the director now owns 10,889 shares in the company, valued at $299,447.50. The trade was a 51.09 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Helen Golding bought 1,190 shares of the company’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 transaction, the director now directly owns 1,190 shares in the company, valued at approximately $32,820.20. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 0.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Reynolds Consumer Products

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in REYN. Verition Fund Management LLC bought a new position in Reynolds Consumer Products during the 3rd quarter worth approximately $12,844,000. Beacon Harbor Wealth Advisors Inc. acquired a new stake in Reynolds Consumer Products in the third quarter worth $5,731,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Reynolds Consumer Products by 1.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 13,107,822 shares of the company’s stock valued at $351,564,000 after buying an additional 182,353 shares during the period. Jane Street Group LLC grew its holdings in shares of Reynolds Consumer Products by 758.9% in the 3rd quarter. Jane Street Group LLC now owns 167,722 shares of the company’s stock valued at $5,216,000 after buying an additional 148,194 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in Reynolds Consumer Products during the 3rd quarter worth $4,397,000. Institutional investors 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.