Reynolds Consumer Products Inc. (NASDAQ:REYN) Receives $33.86 Average PT from Analysts

Reynolds Consumer Products Inc. (NASDAQ:REYN) has received an average recommendation of “Buy” from the eight analysts that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $33.86.

REYN has been the topic of a number of recent research reports. UBS Group initiated coverage on Reynolds Consumer Products in a report on Wednesday, June 23rd. They set a “neutral” rating and a $32.00 price objective on the stock. Citigroup dropped their price objective on Reynolds Consumer Products from $35.00 to $32.00 and set a “buy” rating on the stock in a report on Tuesday, August 3rd. Credit Suisse Group decreased their target price on Reynolds Consumer Products from $36.00 to $35.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 3rd. Royal Bank of Canada decreased their target price on Reynolds Consumer Products from $35.00 to $33.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 3rd. Finally, Zacks Investment Research lowered Reynolds Consumer Products from a “hold” rating to a “sell” rating in a research note on Saturday, July 31st.

REYN traded up $0.05 during trading on Wednesday, reaching $27.44. 2,236 shares of the company were exchanged, compared to its average volume of 487,558. The company’s 50-day moving average is $28.45 and its two-hundred day moving average is $29.59. The company has a market cap of $5.76 billion, a price-to-earnings ratio of 15.22 and a beta of 0.36. The company has a quick ratio of 0.93, a current ratio of 2.21 and a debt-to-equity ratio of 1.25. Reynolds Consumer Products has a 12-month low of $26.50 and a 12-month high of $32.19.

Reynolds Consumer Products (NASDAQ:REYN) last issued its quarterly earnings data on Sunday, August 1st. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The business had revenue of $847.00 million for the quarter, compared to analysts’ expectations of $893.53 million. Reynolds Consumer Products had a return on equity of 24.36% and a net margin of 11.34%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.55 EPS. Equities analysts forecast that Reynolds Consumer Products will post 1.59 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 31st. Stockholders of record on Tuesday, August 17th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Monday, August 16th. This represents a $0.92 annualized dividend and a dividend yield of 3.35%. Reynolds Consumer Products’s dividend payout ratio (DPR) is presently 46.70%.

In related news, CFO Michael E. Graham purchased 2,400 shares of Reynolds Consumer Products stock in a transaction that occurred on Friday, August 6th. The shares were acquired at an average cost of $27.94 per share, for a total transaction of $67,056.00. Following the transaction, the chief financial officer now directly owns 10,359 shares in the company, valued at $289,430.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Chris Mayrhofer purchased 4,000 shares of Reynolds Consumer Products stock in a transaction that occurred on Thursday, August 5th. The shares were bought at an average price of $27.84 per share, for a total transaction of $111,360.00. Following the completion of the transaction, the chief accounting officer now owns 789 shares in the company, valued at $21,965.76. The disclosure for this purchase can be found here. 0.05% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in REYN. Johnson Investment Counsel Inc. lifted its stake in shares of Reynolds Consumer Products by 1.2% in the 1st quarter. Johnson Investment Counsel Inc. now owns 30,455 shares of the company’s stock valued at $907,000 after purchasing an additional 370 shares during the period. The PNC Financial Services Group Inc. lifted its stake in shares of Reynolds Consumer Products by 22.7% in the 1st quarter. The PNC Financial Services Group Inc. now owns 2,041 shares of the company’s stock valued at $61,000 after purchasing an additional 378 shares during the period. Rhumbline Advisers lifted its stake in shares of Reynolds Consumer Products by 1.0% in the 1st quarter. Rhumbline Advisers now owns 47,972 shares of the company’s stock valued at $1,429,000 after purchasing an additional 458 shares during the period. Deutsche Bank AG lifted its stake in shares of Reynolds Consumer Products by 1.1% in the 2nd quarter. Deutsche Bank AG now owns 49,083 shares of the company’s stock valued at $1,491,000 after purchasing an additional 534 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Reynolds Consumer Products by 3.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 17,620 shares of the company’s stock valued at $529,000 after purchasing an additional 551 shares during the period. Institutional investors and hedge funds own 26.69% 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 foil, disposable aluminum pans, parchment paper, freezer paper, wax paper, plastic wrap, baking cups, oven bags, and slow cooker liners under the Reynolds Wrap, Reynolds KITCHENS, and E-Z Foil brands in the United States, as well as under the ALCAN brand in Canada and under the Diamond brand internationally.

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Analyst Recommendations for Reynolds Consumer Products (NASDAQ:REYN)

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