Reynolds Consumer Products (NASDAQ:REYN) Price Target Cut to $30.00 by Analysts at Canaccord Genuity Group

Reynolds Consumer Products (NASDAQ:REYN) had its target price cut by investment analysts at Canaccord Genuity Group from $31.00 to $30.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “hold” rating on the stock. Canaccord Genuity Group’s target price points to a potential upside of 18.91% from the company’s previous close.

A number of other equities research analysts have also issued reports on REYN. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $32.00 target price on shares of Reynolds Consumer Products in a report on Monday. 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. UBS Group dropped 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 report on Thursday, January 16th. Barclays dropped their price objective on shares of Reynolds Consumer Products from $27.00 to $25.00 and set an “equal weight” rating for the company in a report on Thursday. Finally, Evercore ISI dropped their price objective on shares of Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $30.38.

Reynolds Consumer Products Price Performance

NASDAQ:REYN traded down $1.40 during trading hours on Thursday, reaching $25.23. 379,758 shares of the company were exchanged, compared to its average volume of 516,975. The company has a current ratio of 2.04, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84. The stock’s 50-day moving average is $27.32 and its 200-day moving average is $28.81. The firm has a market cap of $5.30 billion, a PE ratio of 14.40 and a beta of 0.50. Reynolds Consumer Products has a twelve month low of $25.17 and a twelve month high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN) last released its earnings results on Wednesday, February 5th. The company reported $0.58 earnings per share (EPS) 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, sell-side analysts anticipate that Reynolds Consumer Products will post 1.69 earnings per share for the current fiscal year.

Insider Transactions at Reynolds Consumer Products

In other news, Director Rolf Stangl bought 3,682 shares of Reynolds Consumer Products stock in a transaction that occurred on Thursday, December 19th. The shares were purchased at an average price of $27.50 per share, with a total value of $101,255.00. Following the completion of the acquisition, the director now directly owns 10,889 shares in the company, valued at $299,447.50. The trade was a 51.09 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Helen Golding purchased 1,190 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was bought at an average price of $27.58 per share, for a total transaction of $32,820.20. Following the completion of the purchase, the director now directly owns 1,190 shares of the company’s stock, valued at $32,820.20. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Reynolds Consumer Products

Hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace LLP purchased a new position in Reynolds Consumer Products in the 2nd quarter valued at $612,000. Creative Planning grew its position in Reynolds Consumer Products by 6.8% in the 2nd quarter. Creative Planning now owns 14,902 shares of the company’s stock valued at $417,000 after buying an additional 944 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in Reynolds Consumer Products in the 2nd quarter valued at $367,000. Handelsbanken Fonder AB grew its position in Reynolds Consumer Products by 68.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 22,800 shares of the company’s stock valued at $709,000 after buying an additional 9,300 shares during the last quarter. Finally, CWM LLC grew its position in Reynolds Consumer Products by 45.5% in the 3rd quarter. CWM LLC now owns 32,088 shares of the company’s stock valued at $998,000 after buying an additional 10,038 shares during the last quarter. 26.81% of the stock is currently owned by hedge funds and other 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.