Barclays Raises Reynolds Consumer Products (NASDAQ:REYN) Price Target to $28.00

Reynolds Consumer Products (NASDAQ:REYN) had its price target raised by Barclays from $27.00 to $28.00 in a report published on Friday, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

REYN has been the subject of a number of other reports. Royal Bank of Canada reaffirmed a sector perform rating and set a $31.00 price objective on shares of Reynolds Consumer Products in a research note on Wednesday, March 20th. Stifel Nicolaus reaffirmed a hold rating and issued a $30.00 price objective on shares of Reynolds Consumer Products in a research note on Wednesday, March 20th. JPMorgan Chase & Co. lifted their price objective on shares of Reynolds Consumer Products from $29.00 to $30.00 and gave the stock a neutral rating in a research report on Thursday, February 8th. Finally, TheStreet raised Reynolds Consumer Products from a c+ rating to a b- rating in a research report on Thursday, February 1st. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $29.80.

Reynolds Consumer Products Trading Down 1.0 %

Reynolds Consumer Products stock opened at $27.97 on Friday. The firm has a market cap of $5.88 billion, a price-to-earnings ratio of 19.70 and a beta of 0.49. Reynolds Consumer Products has a 1 year low of $24.80 and a 1 year high of $30.54. The firm’s 50 day moving average price is $28.71 and its two-hundred day moving average price is $27.23. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.08 and a current ratio of 2.18.

Reynolds Consumer Products (NASDAQ:REYN) last released its quarterly earnings data on Wednesday, February 7th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.03. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.01 billion. Reynolds Consumer Products had a return on equity of 15.77% and a net margin of 7.98%. The company’s revenue was down 7.5% compared to the same quarter last year. During the same period last year, the company posted $0.53 EPS. On average, research analysts predict that Reynolds Consumer Products will post 1.61 EPS for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Thursday, February 15th were paid a $0.23 dividend. The ex-dividend date was Wednesday, February 14th. This represents a $0.92 annualized dividend and a yield of 3.29%. Reynolds Consumer Products’s dividend payout ratio is presently 64.79%.

Institutional Investors Weigh In On Reynolds Consumer Products

A number of institutional investors have recently modified their holdings of REYN. Harbour Investments Inc. grew its position in Reynolds Consumer Products by 20.9% in the fourth quarter. Harbour Investments Inc. now owns 2,025 shares of the company’s stock worth $54,000 after acquiring an additional 350 shares in the last quarter. Park Avenue Securities LLC boosted its holdings in Reynolds Consumer Products by 2.8% in the first quarter. Park Avenue Securities LLC now owns 12,959 shares of the company’s stock worth $370,000 after purchasing an additional 359 shares in the last quarter. Wellington Management Group LLP increased its position in Reynolds Consumer Products by 0.5% during the first quarter. Wellington Management Group LLP now owns 72,987 shares of the company’s stock worth $2,141,000 after buying an additional 374 shares during the last quarter. Cornercap Investment Counsel Inc. raised its holdings in Reynolds Consumer Products by 2.5% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 17,225 shares of the company’s stock valued at $462,000 after buying an additional 416 shares in the last quarter. Finally, Parallel Advisors LLC lifted its position in shares of Reynolds Consumer Products by 26.9% in the fourth quarter. Parallel Advisors LLC now owns 2,288 shares of the company’s stock worth $61,000 after buying an additional 485 shares during the last quarter. 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.