Reynolds Consumer Products (NASDAQ:REYN) Lifted to “Hold” at Zacks Investment Research

Reynolds Consumer Products (NASDAQ:REYNGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Saturday, Zacks.com reports.

According to Zacks, “Reynolds Consumer Products Inc. is a consumer branded and private label products company. It produces and sells branded and store-brand products which includes cooking products, waste & storage products and tableware. The company’s flagship products include Reynolds Wrap(R) aluminum foil, Hefty(R) bags, and Hefty(R) party cups. Reynolds Consumer Products Inc. is based in Lake Forest, Illinois. “

A number of other equities research analysts have also recently weighed in on REYN. TheStreet cut Reynolds Consumer Products from a “b-” rating to a “c” rating in a report on Monday, March 7th. JPMorgan Chase & Co. dropped their price target on Reynolds Consumer Products from $34.00 to $33.00 and set an “overweight” rating for the company in a report on Wednesday, March 30th. The Goldman Sachs Group cut Reynolds Consumer Products from a “buy” rating to a “sell” rating in a report on Tuesday, March 29th. Stifel Nicolaus lowered Reynolds Consumer Products from a “buy” rating to a “hold” rating and decreased their price objective for the company from $33.00 to $31.00 in a research report on Wednesday, April 13th. Finally, Citigroup decreased their price objective on Reynolds Consumer Products from $35.00 to $31.00 in a research report on Thursday, February 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $33.00.

Shares of REYN opened at $28.85 on Friday. The stock has a 50 day simple moving average of $29.32 and a 200-day simple moving average of $29.75. Reynolds Consumer Products has a 1 year low of $26.50 and a 1 year high of $32.29. The stock has a market cap of $6.05 billion, a PE ratio of 20.03 and a beta of 0.30. The company has a current ratio of 2.28, a quick ratio of 1.08 and a debt-to-equity ratio of 1.19.

Reynolds Consumer Products (NASDAQ:REYNGet Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported $0.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.26. Reynolds Consumer Products had a return on equity of 18.43% and a net margin of 8.38%. The firm had revenue of $845.00 million during the quarter, compared to analysts’ expectations of $859.65 million. During the same period last year, the firm posted $0.36 EPS. The business’s revenue was up 11.6% on a year-over-year basis. On average, sell-side analysts forecast that Reynolds Consumer Products will post 1.58 EPS for the current fiscal year.

Several large investors have recently bought and sold shares of REYN. MetLife Investment Management LLC bought a new position in shares of Reynolds Consumer Products in the 1st quarter worth $32,000. Metropolitan Life Insurance Co NY bought a new position in shares of Reynolds Consumer Products in the 4th quarter worth $34,000. Signaturefd LLC boosted its position 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 worth $36,000 after purchasing an additional 496 shares during the last quarter. Parallel Advisors LLC boosted its position 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 worth $37,000 after purchasing an additional 323 shares during the last quarter. Finally, Spire Wealth Management boosted its position in shares of Reynolds Consumer Products by 1,574.8% in the 4th quarter. Spire Wealth Management now owns 1,725 shares of the company’s stock worth $54,000 after purchasing an additional 1,622 shares during the last quarter. Institutional investors and hedge funds own 27.33% of the company’s stock.

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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