Reynolds American Price Target Increased to $65.34 by Analysts at JPMorgan Chase & Co. (RAI)
Equities researchers at JPMorgan Chase & Co. hoisted their price objective on shares of Reynolds American (NYSE:RAI) from $61.00 to $65.34 in a research report issued on Thursday, AnalystRatings.Net reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s price objective would suggest a potential upside of 32.62% from the stock’s previous close.
In other Reynolds American news, major shareholder & Williamson Holdings Brown sold 179,127 shares of the company’s stock on the open market in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $49.83, for a total transaction of $8,925,898.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
Reynolds American (NYSE:RAI) traded up 0.26% on Thursday, hitting $49.27. The stock had a trading volume of 1,493,676 shares. Reynolds American has a one year low of $39.70 and a one year high of $52.93. The stock has a 50-day moving average of $48.64 and a 200-day moving average of $48.15. The company has a market cap of $26.805 billion and a P/E ratio of 17.87.
Reynolds American (NYSE:RAI) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.84 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.83 by $0.01. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter last year, the company posted $0.79 earnings per share. Reynolds American’s revenue was up .1% compared to the same quarter last year. Analysts expect that Reynolds American will post $3.23 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on RAI. Analysts at Zacks reiterated a “neutral” rating on shares of Reynolds American (NYSE:RAI) in a research note to investors on Friday, September 13th. They now have a $50.00 price target on the stock. Separately, analysts at Credit Agricole raised their price target on shares of Reynolds American (NYSE:RAI) from $43.00 to $48.00 in a research note to investors on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $50.89.
Reynolds American Inc (NYSE:RAI) is a holding company.
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