#3 - Reynolds Consumer Products (NASDAQ:REYN)
Another company that looks well-positioned to take advantage of the trend affordably priced everyday household items is Reynolds Consumer Products (NASDAQ:REYN). Reynolds officially listed in January of this year. And while some newly listed companies may have wished they would have delayed, it seems the timing could not have been better for Reynolds.
One thing that sets Reynolds apart from other initial public offerings (IPO) candidates is that the company was already profitable. The company’s portfolio of brands includes Reynolds Wrap and Hefty bags. This also means the company already had shelf space in major grocery stores and warehouse clubs. It wasn’t trying to be a disrupter; it just was now allowing investors to buy shares of the company.
And it appears investors are doing just that. REYN stock is up over 20% in 2020. The company is in the early stages of building out an e-commerce presence. But with the company’s existing relationships with category leaders like Walmart (NYSE:WMT), that should not be an obstacle.
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.
Read More - Current Price
- $27.61
- Consensus Rating
- Hold
- Ratings Breakdown
- 1 Buy Ratings, 5 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $32.17 (16.5% Upside)
