Reynolds Consumer Products (NASDAQ:REYN) Price Target Cut to $30.00 by Analysts at Canaccord Genuity Group

Reynolds Consumer Products (NASDAQ:REYN) had its target price dropped by investment analysts at Canaccord Genuity Group from $31.00 to $30.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Canaccord Genuity Group’s target price would suggest a potential upside of 18.91% from the stock’s previous close.

A number of other brokerages also recently weighed in on REYN. Stifel Nicolaus lowered their price objective on shares of Reynolds Consumer Products from $32.00 to $31.00 and set a “hold” rating on the stock in a research report on Thursday. Evercore ISI decreased their price target on shares of Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday. Barclays decreased their price target on shares of Reynolds Consumer Products from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. decreased their price target on shares of Reynolds Consumer Products from $30.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $32.00 price target on shares of Reynolds Consumer Products in a research report on Monday. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Reynolds Consumer Products presently has an average rating of “Hold” and a consensus target price of $30.38.

Reynolds Consumer Products Stock Down 5.3 %

REYN traded down $1.40 during midday trading on Thursday, reaching $25.23. The company’s stock had a trading volume of 379,758 shares, compared to its average volume of 516,975. The firm has a market capitalization of $5.30 billion, a price-to-earnings ratio of 14.40 and a beta of 0.50. The company has a current ratio of 2.04, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84. Reynolds Consumer Products has a 1 year low of $25.17 and a 1 year high of $32.65. The stock’s 50-day moving average is $27.32 and its 200-day moving average is $28.81.

Reynolds Consumer Products (NASDAQ:REYN) last issued its earnings results on Wednesday, February 5th. The company reported $0.58 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.58. Reynolds Consumer Products had a net margin of 10.03% and a return on equity of 18.27%. As a group, research analysts expect that Reynolds Consumer Products will post 1.69 EPS for the current year.

Insiders Place Their Bets

In other Reynolds Consumer Products news, Director Helen Golding acquired 1,190 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was acquired at an average cost of $27.58 per share, with a total value of $32,820.20. Following the purchase, the director now directly owns 1,190 shares of the company’s stock, valued at approximately $32,820.20. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Rolf Stangl bought 3,682 shares of the stock in a transaction dated Thursday, December 19th. The stock was purchased at an average price of $27.50 per share, with a total value of $101,255.00. Following the acquisition, the director now directly owns 10,889 shares in the company, valued at approximately $299,447.50. The trade was a 51.09 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Reynolds Consumer Products

Several institutional investors have recently made changes to their positions in REYN. Verition Fund Management LLC purchased a new position in Reynolds Consumer Products during the 3rd quarter valued at about $12,844,000. Beacon Harbor Wealth Advisors Inc. purchased a new stake in Reynolds Consumer Products during the 3rd quarter worth approximately $5,731,000. Allspring Global Investments Holdings LLC grew its position in Reynolds Consumer Products by 1.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 13,107,822 shares of the company’s stock worth $351,564,000 after purchasing an additional 182,353 shares during the last quarter. Jane Street Group LLC lifted its stake in Reynolds Consumer Products by 758.9% during the 3rd quarter. Jane Street Group LLC now owns 167,722 shares of the company’s stock valued at $5,216,000 after acquiring an additional 148,194 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in Reynolds Consumer Products during the 3rd quarter valued at approximately $4,397,000. 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.