Reynolds Consumer Products (NASDAQ:REYN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks.com reports.
According to Zacks, “Reynolds Consumer Products Inc. is a consumer branded and private label products company. It produces and sells branded and store-brand products which includes cooking products, waste & storage products and tableware. The company’s flagship products include Reynolds Wrap(R) aluminum foil, Hefty(R) bags, and Hefty(R) party cups. Reynolds Consumer Products Inc. is based in Lake Forest, Illinois. “
Separately, UBS Group initiated coverage on shares of Reynolds Consumer Products in a report on Wednesday, June 23rd. They set a “neutral” rating and a $32.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $34.38.
Shares of REYN opened at $29.24 on Tuesday. The company’s 50-day moving average is $30.40. The company has a market cap of $6.13 billion, a price-to-earnings ratio of 14.99 and a beta of 0.37. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.29 and a quick ratio of 1.09. Reynolds Consumer Products has a 1-year low of $27.27 and a 1-year high of $35.69.
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Reynolds Consumer Products (NASDAQ:REYN) last announced its earnings results on Wednesday, May 5th. The company reported $0.36 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.36. The firm had revenue of $757.00 million for the quarter, compared to analyst estimates of $763.88 million. Reynolds Consumer Products had a net margin of 12.49% and a return on equity of 27.14%. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.30 EPS. As a group, sell-side analysts expect that Reynolds Consumer Products will post 1.89 earnings per share for the current fiscal year.
In other news, insider Stephen C. Estes purchased 1,500 shares of the company’s stock in a transaction on Tuesday, May 11th. The stock was acquired at an average cost of $31.26 per share, for a total transaction of $46,890.00. Following the completion of the transaction, the insider now directly owns 3,701 shares in the company, valued at approximately $115,693.26. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.05% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the business. Johnson Investment Counsel Inc. boosted its position in shares of Reynolds Consumer Products by 1.2% in the first quarter. Johnson Investment Counsel Inc. now owns 30,455 shares of the company’s stock worth $907,000 after purchasing an additional 370 shares during the period. The PNC Financial Services Group Inc. boosted its position in shares of Reynolds Consumer Products by 22.7% during the first quarter. The PNC Financial Services Group Inc. now owns 2,041 shares of the company’s stock worth $61,000 after acquiring an additional 378 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Reynolds Consumer Products by 1.0% during the first quarter. Rhumbline Advisers now owns 47,972 shares of the company’s stock worth $1,429,000 after acquiring an additional 458 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Reynolds Consumer Products by 3.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 17,620 shares of the company’s stock worth $529,000 after acquiring an additional 551 shares during the last quarter. Finally, Freedom Day Solutions LLC boosted its position in shares of Reynolds Consumer Products by 7.2% during the first quarter. Freedom Day Solutions LLC now owns 8,827 shares of the company’s stock worth $263,000 after acquiring an additional 594 shares during the last quarter. Institutional investors and hedge funds own 27.04% of the company’s stock.
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 foil, disposable aluminum pans, parchment paper, freezer paper, wax paper, plastic wrap, baking cups, oven bags, and slow cooker liners under the Reynolds Wrap, Reynolds KITCHENS, and E-Z 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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