Canaccord Genuity Group Issues Pessimistic Forecast for Reynolds Consumer Products (NASDAQ:REYN) Stock Price

Reynolds Consumer Products (NASDAQ:REYN) had its price objective cut by Canaccord Genuity Group from $27.00 to $26.00 in a report released on Thursday,Benzinga reports. The firm presently has a “hold” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 11.54% from the company’s current price.

Several other equities analysts have also weighed in on REYN. Truist Financial cut their target price on shares of Reynolds Consumer Products from $35.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Evercore ISI lowered their target price on shares of Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, February 6th. Stifel Nicolaus lowered their price objective on Reynolds Consumer Products from $31.00 to $27.00 and set a “hold” rating on the stock in a research note on Thursday, April 10th. Barclays dropped their price target on shares of Reynolds Consumer Products from $27.00 to $25.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $30.00 price target on shares of Reynolds Consumer Products in a research note on Monday, April 28th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $28.33.

Reynolds Consumer Products Stock Performance

REYN opened at $23.31 on Thursday. 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 stock has a market capitalization of $4.90 billion, a price-to-earnings ratio of 13.88 and a beta of 0.64. Reynolds Consumer Products has a fifty-two week low of $21.90 and a fifty-two week high of $32.65. The company has a fifty day moving average of $23.65 and a 200 day moving average of $25.99.

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

Insiders Place Their Bets

In related news, Director Rolf Stangl bought 6,000 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was purchased at an average price of $24.89 per share, for a total transaction of $149,340.00. Following the transaction, the director now directly owns 16,889 shares of the company’s stock, valued at approximately $420,367.21. This represents a 55.10 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.15% of the stock is owned by corporate insiders.

Institutional Trading of Reynolds Consumer Products

A number of large investors have recently added to or reduced their stakes in REYN. Barclays PLC boosted its position in Reynolds Consumer Products by 173.9% during the 3rd quarter. Barclays PLC now owns 63,121 shares of the company’s stock worth $1,963,000 after acquiring an additional 40,075 shares during the period. World Investment Advisors LLC bought a new stake in Reynolds Consumer Products during the third quarter worth approximately $538,000. Eagle Bay Advisors LLC bought a new position in Reynolds Consumer Products in the 4th quarter worth $40,000. Oak Thistle LLC lifted its position in Reynolds Consumer Products by 66.5% during the 4th quarter. Oak Thistle LLC now owns 11,797 shares of the company’s stock worth $318,000 after acquiring an additional 4,710 shares during the last quarter. Finally, Park Avenue Securities LLC boosted its stake in Reynolds Consumer Products by 8.0% during the 4th quarter. Park Avenue Securities LLC now owns 14,864 shares of the company’s stock valued at $401,000 after purchasing an additional 1,105 shares during the period. 26.81% of the stock is currently owned by institutional investors.

Reynolds Consumer Products Company Profile

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.