Reynolds Consumer Products (NASDAQ:REYN) Raised to “Hold” at Zacks Investment Research
According to Zacks, “Reynolds Consumer Products Inc. is a consumer brand and private label product company. It produces and markets branded and private label products which include kitchen products, waste and storage products and tableware. The company’s flagship products include Reynolds Wrap(R) foil, Hefty(R) bags and Hefty(R) cups. Reynolds Consumer Products Inc. is based in Lake Forest, Illinois. “
A number of other equity research analysts have also weighed in on REYN recently. TheStreet upgraded Reynolds Consumer Products from a “b-” rating to a “c” rating in a Monday, March 7 report. JPMorgan Chase & Co. lowered its price target on Reynolds Consumer Products from $34.00 to $33.00 and set an “overweight” rating for the company in a Wednesday, March 30 report. Goldman Sachs Group upgraded Reynolds Consumer Products from a “buy” rating to a “sell” rating in a Tuesday, March 29 report. Stifel Nicolaus downgraded Reynolds Consumer Products from a “buy” rating to a “hold” rating and lowered its price target for the company from $33.00 to $31.00 in a Wednesday, April 13 research report . Finally, Citigroup lowered its price target on Reynolds consumer products from $35.00 to $31.00 in a Thursday, Feb. 10 research report. One equity research analyst rated the stock with a sell rating, four issued a hold rating and three gave the company’s stock a buy rating. According to data from MarketBeat, the stock currently 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 minimum of $26.50 and a 1-year maximum of $32.29. The stock has a market capitalization 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 ratio of 1.19.
Reynolds Consumer Products (NASDAQ: REYN – Get a rating) last released its quarterly results on Tuesday, May 10. The company reported earnings per share of $0.26 for the quarter, meeting analyst consensus estimates of $0.26. Reynolds Consumer Products had a return on equity of 18.43% and a net margin of 8.38%. The company posted revenue of $845.00 million in the quarter, compared to $859.65 million expected by analysts. During the same period last year, the company posted EPS of $0.36. The company’s revenue increased 11.6% year over year. On average, sell-side analysts expect Reynolds Consumer Products to post EPS of 1.58 for the current fiscal year.
Several large investors have recently bought and sold shares of REYN. MetLife Investment Management LLC bought a new stock position in Reynolds Consumer Products in Q1 worth $32,000. Metropolitan Life Insurance Co NY bought a new stock position in Reynolds Consumer Products in Q4 worth $34,000. Signaturefd LLC increased its position in Reynolds Consumer Products shares by 78.0% in the 4th quarter. Signaturefd LLC now owns 1,132 shares of the company worth $36,000 after purchasing an additional 496 shares in the last quarter. Parallel Advisors LLC increased its position in Reynolds Consumer Products shares by 37.8% in the 4th quarter. Parallel Advisors LLC now owns 1,177 shares of the company worth $37,000 after buying 323 additional shares in the last quarter. Finally, Spire Wealth Management increased its position in Reynolds Consumer Products shares by 1,574.8% in the 4th quarter. Spire Wealth Management now owns 1,725 shares of the company worth $54,000 after purchasing an additional 1,622 shares in the last quarter. Institutional investors and hedge funds hold 27.33% of the company’s shares.
About Reynolds Consumer Products (Get a rating)
Reynolds Consumer Products Inc manufactures and sells products in the Cookware, Waste & Storage, and Dishware categories in the United States and around the world. It operates through four segments: Reynolds Cooking & Baking, Hefty Waste & Storage, Hefty Tableware and Presto Products. The Reynolds Cooking & Baking segment produces foil, disposable foil pans, parchment paper, freezer paper, wax paper, butcher paper, plastic wrap, baking pans, 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.
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