JPMorgan Chase & Co. Lowers Reynolds Consumer Products (NASDAQ:REYN) Price Target to $28.00

Reynolds Consumer Products (NASDAQ:REYN) had its price objective cut by investment analysts at JPMorgan Chase & Co. from $30.00 to $28.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 3.36% from the company’s previous close.

Separately, Barclays cut their target price on Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Reynolds Consumer Products has an average rating of “Hold” and an average price target of $30.86.

Reynolds Consumer Products Price Performance

NASDAQ REYN opened at $27.09 on Thursday. The company has a market cap of $5.69 billion, a PE ratio of 15.48 and a beta of 0.50. The firm’s 50 day moving average price is $27.35 and its 200-day moving average price is $28.76. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 2.04. Reynolds Consumer Products has a 52-week low of $25.88 and a 52-week high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN) last announced its earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.01). Reynolds Consumer Products had a net margin of 10.03% and a return on equity of 18.27%. The company had revenue of $910.00 million for the quarter, compared to the consensus estimate of $902.88 million. During the same period last year, the business posted $0.37 EPS. The firm’s revenue was down 2.7% compared to the same quarter last year. Sell-side analysts forecast that Reynolds Consumer Products will post 1.69 EPS for the current fiscal year.

Insider Buying and Selling at Reynolds Consumer Products

In related news, Director Rolf Stangl acquired 7,207 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average cost of $27.25 per share, with a total value of $196,390.75. Following the transaction, the director now directly owns 7,207 shares of the company’s stock, valued at $196,390.75. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Helen Golding bought 1,190 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was bought at an average price of $27.58 per share, with a total value of $32,820.20. Following the completion of the purchase, the director now directly owns 1,190 shares in the company, valued at $32,820.20. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 12,079 shares of company stock worth $330,466. 0.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Reynolds Consumer Products

Several hedge funds have recently made changes to their positions in the company. True Wealth Design LLC acquired a new stake in Reynolds Consumer Products during the 3rd quarter worth about $29,000. Eagle Bay Advisors LLC acquired a new position in shares of Reynolds Consumer Products in the fourth quarter valued at about $40,000. Abich Financial Wealth Management LLC purchased a new position in shares of Reynolds Consumer Products in the second quarter worth about $54,000. Capital Performance Advisors LLP acquired a new stake in shares of Reynolds Consumer Products during the third quarter worth about $70,000. Finally, Venturi Wealth Management LLC boosted its position in Reynolds Consumer Products by 93.7% in the third quarter. Venturi Wealth Management LLC now owns 2,561 shares of the company’s stock valued at $80,000 after buying an additional 1,239 shares during the last quarter. 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.