Reynolds Consumer Products (NASDAQ:REYN) Price Target Cut to $26.00 by Analysts at Canaccord Genuity Group

Reynolds Consumer Products (NASDAQ:REYN) had its price target trimmed by Canaccord Genuity Group from $27.00 to $26.00 in a report released on Thursday morning,Benzinga reports. The brokerage currently has a hold rating on the stock.

REYN has been the subject of several other reports. UBS Group dropped their price target on Reynolds Consumer Products from $26.00 to $25.00 and set a “neutral” rating for the company in a research note on Thursday. Stifel Nicolaus dropped their target price on shares of Reynolds Consumer Products from $31.00 to $27.00 and set a “hold” rating for the company in a research report on Thursday, April 10th. JPMorgan Chase & Co. reduced their price target on shares of Reynolds Consumer Products from $26.00 to $24.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Truist Financial reduced their price target on Reynolds Consumer Products from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Finally, Evercore ISI reduced their price target on Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, February 6th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $28.33.

Reynolds Consumer Products Price Performance

REYN opened at $23.31 on Thursday. Reynolds Consumer Products has a 1 year low of $21.90 and a 1 year high of $32.65. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.99 and a current ratio of 2.04. The company’s 50 day simple moving average is $23.65 and its 200 day simple moving average is $25.96. The stock has a market capitalization of $4.90 billion, a PE ratio of 13.88 and a beta of 0.61.

Reynolds Consumer Products (NASDAQ:REYN) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.23 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.23. The company had revenue of $801.00 million for the quarter, compared to analyst estimates of $821.99 million. Reynolds Consumer Products had a net margin of 9.56% and a return on equity of 17.14%. Reynolds Consumer Products’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter last year, the business earned $0.23 EPS. As a group, sell-side analysts expect that Reynolds Consumer Products will post 1.66 EPS for the current year.

Reynolds Consumer Products Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.95%. The ex-dividend date of this dividend is Friday, May 16th. Reynolds Consumer Products’s dividend payout ratio is currently 57.50%.

Insiders Place Their Bets

In other news, Director Rolf Stangl purchased 6,000 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were acquired at an average cost of $24.89 per share, with a total value of $149,340.00. Following the transaction, the director now owns 16,889 shares in the company, valued at approximately $420,367.21. The trade was a 55.10 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.15% of the stock is currently owned by company insiders.

Institutional Trading of Reynolds Consumer Products

A number of institutional investors and hedge funds have recently modified their holdings of REYN. Blue Trust Inc. lifted its holdings in Reynolds Consumer Products by 115.2% in the fourth quarter. Blue Trust Inc. now owns 1,304 shares of the company’s stock worth $35,000 after acquiring an additional 698 shares during the last quarter. Eagle Bay Advisors LLC bought a new stake in shares of Reynolds Consumer Products in the 4th quarter worth approximately $40,000. Versant Capital Management Inc boosted its position in Reynolds Consumer Products by 38.1% during the 1st quarter. Versant Capital Management Inc now owns 2,543 shares of the company’s stock valued at $61,000 after purchasing an additional 701 shares during the period. Quarry LP grew its stake in Reynolds Consumer Products by 187.0% during the 4th quarter. Quarry LP now owns 2,531 shares of the company’s stock worth $68,000 after buying an additional 1,649 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its position in Reynolds Consumer Products by 667.1% in the fourth quarter. Farther Finance Advisors LLC now owns 2,585 shares of the company’s stock worth $70,000 after buying an additional 2,248 shares during the period. 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.