Reynolds Consumer Products (NASDAQ:REYN) PT Raised to $32.00 at Royal Bank of Canada

Reynolds Consumer Products (NASDAQ:REYN) had its price objective raised by equities research analysts at Royal Bank of Canada from $31.00 to $32.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 6.17% from the stock’s previous close.

REYN has been the subject of a number of other research reports. Canaccord Genuity Group lifted their price objective on Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a “hold” rating in a research report on Thursday. Barclays lifted their price target on shares of Reynolds Consumer Products from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, JPMorgan Chase & Co. upped their price objective on shares of Reynolds Consumer Products from $29.00 to $33.00 and gave the company a “neutral” rating in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $31.00.

Reynolds Consumer Products Stock Performance

NASDAQ:REYN traded up $0.08 during mid-day trading on Thursday, reaching $30.14. The stock had a trading volume of 526,972 shares, compared to its average volume of 431,635. Reynolds Consumer Products has a twelve month low of $24.80 and a twelve month high of $31.01. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.01 and a current ratio of 2.11. The business has a 50 day simple moving average of $27.96 and a 200 day simple moving average of $28.33. The firm has a market capitalization of $6.33 billion, a price-to-earnings ratio of 19.20 and a beta of 0.47.

Reynolds Consumer Products (NASDAQ:REYN) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. Reynolds Consumer Products had a net margin of 8.88% and a return on equity of 17.09%. The business had revenue of $930.00 million during the quarter, compared to analysts’ expectations of $890.71 million. During the same period last year, the company posted $0.32 EPS. The company’s revenue was down 1.1% on a year-over-year basis. On average, analysts expect that Reynolds Consumer Products will post 1.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Reynolds Consumer Products

A number of large investors have recently bought and sold shares of REYN. Park Avenue Securities LLC increased its holdings in shares of Reynolds Consumer Products by 2.8% during the 1st quarter. Park Avenue Securities LLC now owns 12,959 shares of the company’s stock worth $370,000 after buying an additional 359 shares during the last quarter. Cornercap Investment Counsel Inc. increased its stake in Reynolds Consumer Products by 2.5% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 17,225 shares of the company’s stock worth $462,000 after acquiring an additional 416 shares during the last quarter. Ariel Investments LLC raised its holdings in shares of Reynolds Consumer Products by 7.0% in the 1st quarter. Ariel Investments LLC now owns 7,136 shares of the company’s stock worth $204,000 after purchasing an additional 466 shares during the period. Covestor Ltd lifted its stake in shares of Reynolds Consumer Products by 15.8% in the 1st quarter. Covestor Ltd now owns 3,520 shares of the company’s stock valued at $101,000 after purchasing an additional 480 shares in the last quarter. Finally, Parallel Advisors LLC lifted its stake in shares of Reynolds Consumer Products by 26.9% in the 4th quarter. Parallel Advisors LLC now owns 2,288 shares of the company’s stock valued at $61,000 after purchasing an additional 485 shares in the last quarter. Hedge funds and other 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.