In a report released on September 23, Nik Modi from RBC Capital maintained a Buy rating on Reynolds Consumer Products (REYN – Research Report), with a price target of $31.00. The company’s shares closed yesterday at $27.22.
According to TipRanks, Modi is a 5-star analyst with an average return of 7.0% and a 56.82% success rate. Modi covers the Consumer Goods sector, focusing on stocks such as Coty, Conagra Brands, and Church & Dwight.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Reynolds Consumer Products with a $30.50 average price target.
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Based on Reynolds Consumer Products’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $917 million and a net profit of $52 million. In comparison, last year the company earned a revenue of $873 million and had a net profit of $80 million
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Reynolds Consumer Products, Inc. manufactures and sells household products. It operates through the following segments: Presto Products, Reynolds Cooking & Baking, Hefty Waste & Storage and Hefty Tableware. The Reynolds Cooking & Baking segment produces branded and store brand foil, disposable aluminum pans, parchment paper, freezer paper, wax paper, plastic wrap, baking cups, oven bags and slow cooker liners. The Hefty Waste & Storage segment produces both branded and store brand trash and food storage bags. Its products are sold under the Hefty Ultra Strong, Hefty Strong Trash Bags, Hefty Renew and Hefty Slider Bags brands. The Hefty Tableware segment sells both branded and store brand disposable and compostable plates, bowls, platters, cups and cutlery. The Presto Products segment sells store brand products in four main categories including food storage bags, trash bags, reusable storage containers and plastic wrap. The company was founded on September 29, 2011 and is headquartered in Lake Forest, IL.
