Barclays Has Lowered Expectations for Reynolds Consumer Products (NASDAQ:REYN) Stock Price

Reynolds Consumer Products (NASDAQ:REYN) had its price objective reduced by stock analysts at Barclays from $29.00 to $28.00 in a report released on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price target would indicate a potential upside of 2.87% from the company’s current price.

Several other brokerages have also commented on REYN. JPMorgan Chase & Co. raised their price objective on Reynolds Consumer Products from $29.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Jefferies Financial Group began coverage on shares of Reynolds Consumer Products in a report on Thursday, August 29th. They issued a “buy” rating and a $38.00 price objective on the stock. Canaccord Genuity Group lifted their target price on shares of Reynolds Consumer Products from $30.00 to $32.00 and gave the company a “hold” rating in a report on Thursday, August 8th. Finally, Royal Bank of Canada upped their price target on Reynolds Consumer Products from $31.00 to $32.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Reynolds Consumer Products presently has an average rating of “Hold” and an average price target of $32.17.

Reynolds Consumer Products Price Performance

REYN stock opened at $27.22 on Thursday. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.13 and a quick ratio of 1.01. Reynolds Consumer Products has a 1 year low of $25.29 and a 1 year high of $32.65. The firm has a 50-day moving average of $30.64 and a 200 day moving average of $29.20. The company has a market cap of $5.72 billion, a P/E ratio of 15.55 and a beta of 0.48.

Reynolds Consumer Products (NASDAQ:REYN) last posted its earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). The firm had revenue of $910.00 million for the quarter, compared to analysts’ expectations of $902.88 million. Reynolds Consumer Products had a return on equity of 18.41% and a net margin of 10.03%. The firm’s revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the company posted $0.37 EPS. On average, sell-side analysts forecast that Reynolds Consumer Products will post 1.69 EPS for the current year.

Institutional Investors Weigh In On Reynolds Consumer Products

Several institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in Reynolds Consumer Products by 510.2% during the 2nd quarter. GAMMA Investing LLC now owns 958 shares of the company’s stock valued at $27,000 after purchasing an additional 801 shares during the last quarter. Versant Capital Management Inc bought a new stake in Reynolds Consumer Products in the 2nd quarter worth about $39,000. Abich Financial Wealth Management LLC purchased a new position in Reynolds Consumer Products in the 2nd quarter worth about $54,000. Capital Performance Advisors LLP bought a new position in Reynolds Consumer Products during the 3rd quarter valued at about $70,000. Finally, nVerses Capital LLC purchased a new stake in shares of Reynolds Consumer Products during the 2nd quarter valued at about $90,000. 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.