Reynolds Consumer Products (NASDAQ:REYN) Lowered to “Hold” at Stifel Nicolaus

Reynolds Consumer Products (NASDAQ:REYNGet Rating) was downgraded by equities research analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a report issued on Wednesday, Marketbeat reports. They presently have a $31.00 price objective on the stock, down from their prior price objective of $33.00. Stifel Nicolaus’ price objective would indicate a potential upside of 6.46% from the company’s current price.

A number of other research firms have also weighed in on REYN. The Goldman Sachs Group lowered Reynolds Consumer Products from a “buy” rating to a “sell” rating in a research report on Tuesday, March 29th. Citigroup decreased their price objective on Reynolds Consumer Products from $35.00 to $31.00 in a research report on Thursday, February 10th. JPMorgan Chase & Co. decreased their price objective on Reynolds Consumer Products from $34.00 to $33.00 and set an “overweight” rating for the company in a research report on Wednesday, March 30th. TheStreet lowered Reynolds Consumer Products from a “b-” rating to a “c” rating in a report on Monday, March 7th. Finally, Zacks Investment Research lowered Reynolds Consumer Products from a “hold” rating to a “sell” rating in a report on Wednesday, March 30th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $33.00.

NASDAQ:REYN opened at $29.12 on Wednesday. The company has a quick ratio of 1.08, a current ratio of 2.28 and a debt-to-equity ratio of 1.19. Reynolds Consumer Products has a 1-year low of $26.50 and a 1-year high of $32.29. The firm has a market capitalization of $6.11 billion, a price-to-earnings ratio of 18.91 and a beta of 0.34. The stock has a fifty day simple moving average of $29.38 and a 200 day simple moving average of $29.52.

Reynolds Consumer Products (NASDAQ:REYNGet Rating) last released its quarterly earnings results on Wednesday, February 9th. The company reported $0.51 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.03. Reynolds Consumer Products had a return on equity of 19.85% and a net margin of 9.14%. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the company posted $0.57 EPS. Equities analysts predict that Reynolds Consumer Products will post 1.63 earnings per share for the current year.

Several hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC raised its stake in shares of Reynolds Consumer Products by 37.8% in the 4th quarter. Parallel Advisors LLC now owns 1,177 shares of the company’s stock valued at $37,000 after acquiring an additional 323 shares in the last quarter. Utah Retirement Systems raised its stake in shares of Reynolds Consumer Products by 4.3% in the 3rd quarter. Utah Retirement Systems now owns 9,800 shares of the company’s stock valued at $268,000 after acquiring an additional 400 shares in the last quarter. Signaturefd LLC raised its stake in shares of Reynolds Consumer Products by 78.0% in the 4th quarter. Signaturefd LLC now owns 1,132 shares of the company’s stock valued at $36,000 after acquiring an additional 496 shares in the last quarter. CIBC Asset Management Inc increased its position in Reynolds Consumer Products by 7.2% in the 3rd quarter. CIBC Asset Management Inc now owns 8,434 shares of the company’s stock worth $231,000 after buying an additional 568 shares during the period. Finally, O Shares Investment Advisers LLC increased its position in Reynolds Consumer Products by 2.3% in the 4th quarter. O Shares Investment Advisers LLC now owns 26,658 shares of the company’s stock worth $837,000 after buying an additional 606 shares during the period. 33.43% of the stock is currently owned by institutional investors and hedge funds.

About Reynolds Consumer Products (Get Rating)

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 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 E-Z Foil brands in the United States, as well as under the ALCAN brand in Canada and under the Diamond brand internationally.

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