Analysts Set Reynolds Consumer Products Inc. (NASDAQ:REYN) PT at $32.00

Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Get Free Report) have earned a consensus rating of "Hold" from the seven brokerages that are presently covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $32.00.

REYN has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on shares of Reynolds Consumer Products from $29.00 to $33.00 and gave the company a "neutral" rating in a report on Thursday, August 8th. Jefferies Financial Group initiated coverage on shares of Reynolds Consumer Products in a research note on Thursday, August 29th. They issued a "buy" rating and a $38.00 price objective for the company. Barclays increased their target price on Reynolds Consumer Products from $28.00 to $29.00 and gave the stock an "equal weight" rating in a report on Thursday, August 8th. Canaccord Genuity Group lifted their target price on Reynolds Consumer Products from $30.00 to $32.00 and gave the company a "hold" rating in a research report on Thursday, August 8th. Finally, Royal Bank of Canada lifted their price target on Reynolds Consumer Products from $31.00 to $32.00 and gave the company a "sector perform" rating in a research note on Thursday, August 8th.

Reynolds Consumer Products Stock Up 0.7 %

REYN stock traded up $0.23 during mid-day trading on Thursday, reaching $30.95. The company had a trading volume of 1,619,763 shares, compared to its average volume of 577,896. Reynolds Consumer Products has a 52 week low of $24.80 and a 52 week high of $32.65. The company has a market capitalization of $6.50 billion, a price-to-earnings ratio of 19.71 and a beta of 0.48. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.13 and a quick ratio of 1.01. The stock has a 50 day simple moving average of $30.15 and a two-hundred day simple moving average of $28.96.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported $0.46 earnings per share for the quarter, topping analysts' consensus estimates of $0.44 by $0.02. Reynolds Consumer Products had a net margin of 9.74% and a return on equity of 18.27%. The business had revenue of $930.00 million for the quarter, compared to the consensus estimate of $890.71 million. During the same period in the previous year, the company earned $0.32 earnings per share. The firm's revenue for the quarter was down 1.1% on a year-over-year basis. As a group, equities analysts predict that Reynolds Consumer Products will post 1.69 earnings per share for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.92 annualized dividend and a dividend yield of 2.97%. Reynolds Consumer Products's payout ratio is 58.60%.

Hedge Funds Weigh In On Reynolds Consumer Products

Institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its stake in Reynolds Consumer Products by 510.2% during the second quarter. GAMMA Investing LLC now owns 958 shares of the company's stock worth $27,000 after acquiring an additional 801 shares in the last quarter. Versant Capital Management Inc acquired a new stake in shares of Reynolds Consumer Products in the 2nd quarter valued at about $39,000. Abich Financial Wealth Management LLC bought a new stake in Reynolds Consumer Products in the 2nd quarter valued at about $54,000. Parallel Advisors LLC boosted its holdings in 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 acquiring an additional 485 shares in the last quarter. Finally, nVerses Capital LLC acquired a new stake in Reynolds Consumer Products in the second quarter valued at approximately $90,000. 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.