Royal Bank of Canada Reiterates "Sector Perform" Rating for Reynolds Consumer Products (NASDAQ:REYN)

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report)'s stock had its "sector perform" rating reissued by stock analysts at Royal Bank of Canada in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $32.00 target price on the stock. Royal Bank of Canada's price objective suggests a potential upside of 28.93% from the company's previous close.

Several other research firms have also issued reports on REYN. Barclays decreased their target price on Reynolds Consumer Products from $28.00 to $27.00 and set an "equal weight" rating on the stock in a research note on Friday, January 17th. UBS Group lowered their price objective on shares of Reynolds Consumer Products from $30.00 to $29.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Reynolds Consumer Products from $30.00 to $28.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, Reynolds Consumer Products presently has a consensus rating of "Hold" and an average target price of $30.38.

Reynolds Consumer Products Trading Down 6.8 %

REYN stock traded down $1.81 during mid-day trading on Monday, hitting $24.82. 1,135,102 shares of the company were exchanged, compared to its average volume of 549,100. Reynolds Consumer Products has a 12-month low of $24.79 and a 12-month high of $32.65. The firm has a market capitalization of $5.22 billion, a P/E ratio of 14.18 and a beta of 0.50. The business has a fifty day simple moving average of $27.32 and a 200-day simple moving average of $28.81. The company has a quick ratio of 0.89, a current ratio of 2.04 and a debt-to-equity ratio of 0.84.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.58 earnings per share for the quarter, hitting analysts' consensus estimates of $0.58. Reynolds Consumer Products had a net margin of 10.03% and a return on equity of 18.27%. On average, equities research analysts predict that Reynolds Consumer Products will post 1.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Helen Golding bought 1,190 shares of the stock in a transaction dated Thursday, November 14th. The stock was acquired at an average price of $27.58 per share, for a total transaction of $32,820.20. Following the acquisition, the director now owns 1,190 shares in the company, valued at approximately $32,820.20. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Rolf Stangl purchased 3,682 shares of the business's stock in a transaction that occurred on Thursday, December 19th. The shares were bought at an average price of $27.50 per share, for a total transaction of $101,255.00. Following the completion of the purchase, the director now directly owns 10,889 shares in the company, valued at $299,447.50. This represents a 51.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Reynolds Consumer Products

Several large investors have recently modified their holdings of the company. ARGA Investment Management LP purchased a new stake in Reynolds Consumer Products in the 3rd quarter valued at $751,000. Barclays PLC boosted its stake in shares of Reynolds Consumer Products by 173.9% during the third quarter. Barclays PLC now owns 63,121 shares of the company's stock worth $1,963,000 after buying an additional 40,075 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of Reynolds Consumer Products during the third quarter worth about $4,397,000. Beacon Harbor Wealth Advisors Inc. acquired a new position in Reynolds Consumer Products in the 3rd quarter valued at about $5,731,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Reynolds Consumer Products during the 3rd quarter valued at approximately $851,000. 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.