Barclays Issues Pessimistic Forecast for Reynolds Consumer Products (NASDAQ:REYN) Stock Price

Reynolds Consumer Products (NASDAQ:REYN) had its price objective reduced by investment analysts at Barclays from $29.00 to $28.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price objective points to a potential upside of 2.83% from the stock’s previous close.

REYN has been the topic of a number of other research reports. Jefferies Financial Group initiated coverage on Reynolds Consumer Products in a research report on Thursday, August 29th. They set a “buy” rating and a $38.00 price target on the stock. Canaccord Genuity Group raised their price target on Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a “hold” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. raised their price target on Reynolds Consumer Products from $29.00 to $33.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Finally, Royal Bank of Canada raised their price target on Reynolds Consumer Products from $31.00 to $32.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Reynolds Consumer Products has an average rating of “Hold” and a consensus target price of $32.17.

Reynolds Consumer Products Trading Down 1.7 %

REYN traded down $0.46 during midday trading on Thursday, reaching $27.23. 479,785 shares of the company were exchanged, compared to its average volume of 564,726. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.01 and a current ratio of 2.13. Reynolds Consumer Products has a one year low of $25.08 and a one year high of $32.65. The stock has a market capitalization of $5.72 billion, a P/E ratio of 17.37 and a beta of 0.48. The stock’s 50-day simple moving average is $30.78 and its 200 day simple moving average is $29.22.

Reynolds Consumer Products (NASDAQ:REYN) last issued its earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 9.74%. The company had revenue of $910.00 million for the quarter, compared to the consensus estimate of $902.88 million. During the same quarter last year, the business posted $0.37 EPS. Reynolds Consumer Products’s quarterly revenue was down 2.7% on a year-over-year basis. As a group, analysts forecast that Reynolds Consumer Products will post 1.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC grew its stake in Reynolds Consumer Products by 510.2% in the second quarter. GAMMA Investing LLC now owns 958 shares of the company’s stock valued at $27,000 after purchasing an additional 801 shares in the last quarter. Versant Capital Management Inc bought a new position in shares of Reynolds Consumer Products during the 2nd quarter worth approximately $39,000. Abich Financial Wealth Management LLC bought a new position in shares of Reynolds Consumer Products during the 2nd quarter worth approximately $54,000. International Assets Investment Management LLC boosted its stake in shares of Reynolds Consumer Products by 3,009.9% during the 3rd quarter. International Assets Investment Management LLC now owns 2,830 shares of the company’s stock worth $91,000 after acquiring an additional 2,739 shares during the period. Finally, nVerses Capital LLC bought a new position in shares of Reynolds Consumer Products during the 2nd quarter worth approximately $90,000. 26.81% of the stock is currently owned by institutional investors.

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.