Reynolds Consumer Products (NASDAQ:REYN) Stock Price Expected to Rise, UBS Group Analyst Says

Reynolds Consumer Products (NASDAQ:REYN – Get Free Report) had its target price hoisted by equities research analysts at UBS Group from $24.00 to $27.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group‘s price objective would indicate a potential upside of 10.07% from the company’s previous close.

A number of other brokerages have also weighed in on REYN. Piper Sandler raised shares of Reynolds Consumer Products to an “overweight” rating in a report on Thursday, July 30th. Canaccord Genuity Group raised their price objective on Reynolds Consumer Products from $24.00 to $25.00 and gave the stock a “hold” rating in a research note on Thursday, July 30th. Barclays dropped their price objective on shares of Reynolds Consumer Products from $26.00 to $23.00 and set an “equal weight” rating on the stock in a report on Thursday, October 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Reynolds Consumer Products in a research report on Friday, September 25th. Finally, JPMorgan Chase & Co. raised their target price on shares of Reynolds Consumer Products from $23.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. One investment analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $25.20.

Check Out Our Latest Report on Reynolds Consumer Products

Reynolds Consumer Products Price Performance

Shares of Reynolds Consumer Products stock traded down $0.60 during midday trading on Thursday, hitting $24.53. 1,742,392 shares of the company were exchanged, compared to its average volume of 1,208,109. Reynolds Consumer Products has a 52 week low of $20.44 and a 52 week high of $27.32. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.80 and a quick ratio of 0.71. The firm has a 50 day simple moving average of $22.59 and a 200-day simple moving average of $23.23. The firm has a market cap of $5.17 billion, a P/E ratio of 14.96 and a beta of 0.56.

Reynolds Consumer Products (NASDAQ:REYN – Get Free Report) last posted its earnings results on Wednesday, November 4th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.01. The business had revenue of $944.00 million for the quarter, compared to analyst estimates of $939.23 million. Reynolds Consumer Products had a net margin of 9.11% and a return on equity of 16.03%. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.42 EPS. Research analysts forecast that Reynolds Consumer Products will post 1.60 earnings per share for the current year.

Hedge Funds Weigh In On Reynolds Consumer Products

Institutional investors and hedge funds have recently modified their holdings of the business. Legal & General Group Plc bought a new stake in Reynolds Consumer Products in the second quarter valued at $3,253,000. Corient Private Wealth LP grew its holdings in Reynolds Consumer Products by 34.7% during the second quarter. Corient Private Wealth LP now owns 287,368 shares of the company’s stock worth $7,716,000 after buying an additional 73,982 shares in the last quarter. Amundi bought a new position in shares of Reynolds Consumer Products during the first quarter valued at about $2,194,000. KBC Group NV boosted its stake in shares of Reynolds Consumer Products by 3,934.6% in the 1st quarter. KBC Group NV now owns 126,807 shares of the company’s stock worth $2,686,000 after buying an additional 123,664 shares during the last quarter. Finally, Bank of America Corp DE increased its position in shares of Reynolds Consumer Products by 38.9% during the 1st quarter. Bank of America Corp DE now owns 662,465 shares of the company’s stock valued at $14,031,000 after purchasing an additional 185,665 shares during the last quarter. 26.81% of the stock is currently owned by institutional investors.

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About Reynolds Consumer Products

(Get Free Report)

Reynolds Consumer Products Inc (NASDAQ:REYN) manufactures and markets household products used for food preparation, storage, cleanup and waste management. Its portfolio includes aluminum foil, parchment paper, plastic wrap, disposable cookware, trash bags, food-storage bags and other everyday consumer products.

The company sells products under well-known brands including Reynolds and Reynolds Kitchens, Hefty, Presto, Diamond and Fresh. Its offerings are distributed through grocery stores, mass merchants, club stores, e-commerce channels and other retail outlets, as well as through foodservice and other commercial customers.

Reynolds Consumer Products serves consumers primarily in the United States and Canada.

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Analyst Recommendations for Reynolds Consumer Products (NASDAQ:REYN)

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