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

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

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

Reynolds Consumer Products Price Performance

REYN stock opened at $27.97 on Friday. Reynolds Consumer Products has a 1 year low of $24.80 and a 1 year high of $30.54. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.18 and a quick ratio of 1.08. The firm has a market capitalization of $5.88 billion, a PE ratio of 19.70 and a beta of 0.49. The business has a 50 day simple moving average of $28.71 and a 200-day simple moving average of $27.23.

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

Reynolds Consumer Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Thursday, February 15th were given a $0.23 dividend. The ex-dividend date of this dividend 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 Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Olstein Capital Management L.P. raised its holdings in shares of Reynolds Consumer Products by 7.0% in the 3rd quarter. Olstein Capital Management L.P. now owns 337,000 shares of the company’s stock valued at $8,637,000 after purchasing an additional 22,000 shares in the last quarter. Comerica Bank purchased a new stake in Reynolds Consumer Products during the 2nd quarter worth about $3,777,000. FMR LLC boosted its position in shares of Reynolds Consumer Products by 7.4% during the 3rd quarter. FMR LLC now owns 6,454,619 shares of the company’s stock worth $165,432,000 after acquiring an additional 442,654 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Reynolds Consumer Products by 840.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 131,324 shares of the company’s stock valued at $3,366,000 after acquiring an additional 117,364 shares during the last quarter. Finally, Barclays PLC raised its position in shares of Reynolds Consumer Products by 2.3% during the 3rd quarter. Barclays PLC now owns 27,586 shares of the company’s stock worth $707,000 after acquiring an additional 632 shares in the last quarter. 26.81% of the stock is owned by institutional investors and hedge funds.

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.