Reynolds Consumer Products (NASDAQ:REYN) Given New $30.00 Price Target at Canaccord Genuity Group

Reynolds Consumer Products (NASDAQ:REYN) had its price target lifted by equities researchers at Canaccord Genuity Group from $29.00 to $30.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Canaccord Genuity Group’s target price would suggest a potential upside of 2.53% from the stock’s previous close.

REYN has been the subject of a number of other research reports. Stifel Nicolaus reiterated a “hold” rating and set a $30.00 price objective on shares of Reynolds Consumer Products in a report on Wednesday, March 20th. Royal Bank of Canada restated a “sector perform” rating and set a $31.00 price target on shares of Reynolds Consumer Products in a research note on Wednesday, March 20th. JPMorgan Chase & Co. lifted their price objective on shares of Reynolds Consumer Products from $29.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. Barclays upped their target price on Reynolds Consumer Products from $27.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, April 12th. Finally, TheStreet raised Reynolds Consumer Products from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Six research analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $29.83.

Reynolds Consumer Products Trading Up 1.8 %

NASDAQ:REYN traded up $0.51 during midday trading on Thursday, hitting $29.26. 681,568 shares of the company traded hands, compared to its average volume of 579,797. Reynolds Consumer Products has a 12-month low of $24.80 and a 12-month high of $30.54. The firm has a market capitalization of $6.15 billion, a P/E ratio of 20.61 and a beta of 0.48. The company has a current ratio of 2.18, a quick ratio of 1.08 and a debt-to-equity ratio of 0.92. The firm’s fifty day moving average is $28.58 and its 200-day moving average is $27.57.

Reynolds Consumer Products (NASDAQ:REYN) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.01. Reynolds Consumer Products had a net margin of 7.98% and a return on equity of 15.77%. The business had revenue of $833.00 million during the quarter, compared to the consensus estimate of $814.92 million. During the same quarter last year, the firm earned $0.08 earnings per share. The firm’s quarterly revenue was down 4.7% compared to the same quarter last year. On average, sell-side analysts predict that Reynolds Consumer Products will post 1.61 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Venturi Wealth Management LLC acquired a new stake in Reynolds Consumer Products in the first quarter valued at approximately $35,000. Quadrant Capital Group LLC lifted its stake in Reynolds Consumer Products by 97.2% in the 4th quarter. Quadrant Capital Group LLC now owns 1,948 shares of the company’s stock worth $52,000 after purchasing an additional 960 shares in the last quarter. Principal Securities Inc. purchased a new stake in Reynolds Consumer Products in the 4th quarter valued at $61,000. Parallel Advisors LLC increased its position in Reynolds Consumer Products by 26.9% during the fourth quarter. Parallel Advisors LLC now owns 2,288 shares of the company’s stock worth $61,000 after purchasing an additional 485 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in Reynolds Consumer Products by 467.9% in the 4th quarter. International Assets Investment Management LLC now owns 2,442 shares of the company’s stock valued at $66,000 after purchasing an additional 2,012 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.