Analysts Set Reynolds Consumer Products Inc. (NASDAQ:REYN) Target Price at $32.00

Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) have been assigned an average rating of “Hold” from the seven ratings firms that are covering the company, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $32.00.

A number of equities research analysts recently commented on the company. Royal Bank of Canada upped their price objective on Reynolds Consumer Products from $31.00 to $32.00 and gave the company a “sector perform” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. increased their price target on shares of Reynolds Consumer Products from $29.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Barclays boosted their price objective 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. 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 target price on the stock. Finally, Canaccord Genuity Group boosted their price target 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.

Reynolds Consumer Products Stock Performance

NASDAQ:REYN opened at $32.50 on Friday. The firm has a market capitalization of $6.83 billion, a PE ratio of 20.70 and a beta of 0.48. The company has a current ratio of 2.13, a quick ratio of 1.01 and a debt-to-equity ratio of 0.87. Reynolds Consumer Products has a 1 year low of $24.80 and a 1 year high of $32.50. The firm’s fifty day simple moving average is $28.91 and its 200 day simple moving average is $28.73.

Reynolds Consumer Products (NASDAQ:REYN) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.02. The company had revenue of $930.00 million for the quarter, compared to analyst estimates of $890.71 million. Reynolds Consumer Products had a net margin of 9.74% and a return on equity of 18.27%. The business’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period last year, the business posted $0.32 EPS. On average, sell-side analysts anticipate that Reynolds Consumer Products will post 1.69 EPS for the current year.

Reynolds Consumer Products Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date was Friday, August 16th. Reynolds Consumer Products’s payout ratio is 58.60%.

Hedge Funds Weigh In On Reynolds Consumer Products

Several large investors have recently added to or reduced their stakes in REYN. Sanctuary Advisors LLC bought a new stake in Reynolds Consumer Products during the second quarter worth $367,000. Creative Planning increased its position in shares of Reynolds Consumer Products by 6.8% during the 2nd quarter. Creative Planning now owns 14,902 shares of the company’s stock valued at $417,000 after purchasing an additional 944 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Reynolds Consumer Products by 122.7% during the 2nd 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. Abich Financial Wealth Management LLC purchased a new position in shares of Reynolds Consumer Products in the 2nd quarter worth about $54,000. Finally, Marshall Wace LLP bought a new position in Reynolds Consumer Products during the second quarter valued at about $612,000. 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.