Jefferies Financial Group Initiates Coverage on Reynolds Consumer Products (NASDAQ:REYN)

Equities research analysts at Jefferies Financial Group assumed coverage on shares of Reynolds Consumer Products (NASDAQ:REYN) in a research report issued to clients and investors on Thursday, MarketBeat reports. The firm set a “buy” rating and a $38.00 price target on the stock. Jefferies Financial Group’s price objective points to a potential upside of 20.63% from the company’s current price.

REYN has been the subject of several other research reports. Canaccord Genuity Group upped their price objective on shares of Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Thursday, August 8th. Barclays upped their price target on shares of Reynolds Consumer Products from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. upped their price target on shares of Reynolds Consumer Products from $29.00 to $33.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Finally, Royal Bank of Canada upped their price target on shares of Reynolds Consumer Products from $31.00 to $32.00 and gave the company a “sector perform” rating in a report on Thursday, August 8th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $32.00.

Reynolds Consumer Products Stock Performance

REYN stock opened at $31.50 on Thursday. The company has a market capitalization of $6.62 billion, a P/E ratio of 20.21 and a beta of 0.47. The company has a 50-day simple moving average of $28.59 and a 200 day simple moving average of $28.61. Reynolds Consumer Products has a fifty-two week low of $24.80 and a fifty-two week high of $31.82. The company has a quick ratio of 1.01, a current ratio of 2.13 and a debt-to-equity ratio of 0.87.

Reynolds Consumer Products (NASDAQ:REYN) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.02. The business had revenue of $930.00 million during the quarter, compared to the consensus estimate of $890.71 million. Reynolds Consumer Products had a net margin of 9.74% and a return on equity of 18.27%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.32 earnings per share. Sell-side analysts predict that Reynolds Consumer Products will post 1.69 earnings per share for the current fiscal year.

Institutional Trading of Reynolds Consumer Products

Several institutional investors and hedge funds have recently bought and sold shares of REYN. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Reynolds Consumer Products by 14.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,665 shares of the company’s stock worth $394,000 after buying an additional 1,864 shares during the period. Victory Capital Management Inc. raised its holdings in Reynolds Consumer Products by 21.7% during the 4th quarter. Victory Capital Management Inc. now owns 14,684 shares of the company’s stock worth $394,000 after buying an additional 2,619 shares during the period. Gallacher Capital Management LLC acquired a new position in shares of Reynolds Consumer Products in the 4th quarter valued at about $259,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Reynolds Consumer Products by 10.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 536,320 shares of the company’s stock valued at $14,395,000 after purchasing an additional 50,425 shares during the period. Finally, Principal Securities Inc. acquired a new position in shares of Reynolds Consumer Products in the 4th quarter valued at about $61,000. Institutional investors and hedge funds 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.