JPMorgan Chase & Co. Issues Pessimistic Forecast for Reynolds Consumer Products (NASDAQ:REYN) Stock Price

Reynolds Consumer Products (NASDAQ:REYN) had its target price lowered by equities research analysts at JPMorgan Chase & Co. from $30.00 to $28.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 5.50% from the company’s current price.

Separately, Barclays decreased their price target on shares of Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $31.33.

Reynolds Consumer Products Price Performance

Shares of REYN opened at $26.54 on Thursday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 2.04. The firm has a market cap of $5.58 billion, a PE ratio of 15.17 and a beta of 0.50. Reynolds Consumer Products has a twelve month low of $25.88 and a twelve month high of $32.65. The firm’s 50 day moving average price is $27.37 and its 200 day moving average price is $28.79.

Reynolds Consumer Products (NASDAQ:REYN) last announced its earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 10.03%. The company had revenue of $910.00 million for the quarter, compared to the consensus estimate of $902.88 million. During the same period in the previous year, the company earned $0.37 EPS. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. As a group, research analysts expect that Reynolds Consumer Products will post 1.69 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Helen Golding bought 1,190 shares of Reynolds Consumer Products stock in a transaction on Thursday, November 14th. The shares were purchased at an average price of $27.58 per share, for a total transaction of $32,820.20. Following the completion of the acquisition, the director now owns 1,190 shares in the company, valued at approximately $32,820.20. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Rolf Stangl purchased 3,682 shares of the stock in a transaction dated Thursday, December 19th. The stock was bought 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 disclosure for this purchase can be found here. Insiders acquired 12,079 shares of company stock valued at $330,466 over the last quarter. Corporate insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Reynolds Consumer Products

Several large investors have recently bought and sold shares of the company. Rhumbline Advisers increased its position in shares of Reynolds Consumer Products by 18.9% during the second quarter. Rhumbline Advisers now owns 69,147 shares of the company’s stock worth $1,935,000 after acquiring an additional 10,987 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Reynolds Consumer Products by 188.8% in the 2nd quarter. American Century Companies Inc. now owns 280,137 shares of the company’s stock valued at $7,838,000 after purchasing an additional 183,125 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Reynolds Consumer Products by 1.1% in the second quarter. Envestnet Asset Management Inc. now owns 252,761 shares of the company’s stock valued at $7,072,000 after purchasing an additional 2,763 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Reynolds Consumer Products by 17.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,781,815 shares of the company’s stock worth $49,859,000 after buying an additional 261,513 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in shares of Reynolds Consumer Products by 22.2% during the second quarter. Renaissance Technologies LLC now owns 304,705 shares of the company’s stock worth $8,526,000 after buying an additional 55,405 shares in the last quarter. 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.