In a report issued on May 4, Nik Modi from RBC Capital maintained a Hold rating on Newell Brands (NWL – Research Report), with a price target of $16.00. The company’s shares closed last Wednesday at $11.81, close to its 52-week low of $10.44.
According to TipRanks.com, Modi is a 4-star analyst with an average return of 4.2% and a 60.9% success rate. Modi covers the Consumer Goods sector, focusing on stocks such as The Estée Lauder Companies, Spectrum Brands Holdings, and Edgewell Personal Care.
Newell Brands has an analyst consensus of Hold, with a price target consensus of $15.22, which is a 27.0% upside from current levels. In a report issued on April 27, Morgan Stanley also maintained a Hold rating on the stock with a $13.00 price target.
Based on Newell Brands’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.98 billion and net profit of $794 million. In comparison, last year the company earned revenue of $2.04 billion and had a GAAP net loss of $151 million.
Based on the recent corporate insider activity of 54 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of NWL in relation to earlier this year.
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Newell Brands, Inc. engages in the manufacture, marketing, and sale of consumer and commercial products. It operates through the following segments: Food and Appliances; Home and Outdoor Living; and Learning and Development. The Food and Appliances segment includes household products, including kitchen appliances, gourmet cookware, bakeware and cutlery, food storage and home storage products and fresh preserving products. The Home and Outdoor Living segment consists of products for outdoor and outdoor-related activities, home fragrance products and connected home and security. The Learning and Development segment deals with writing instruments, including markers and highlighters, pens and pencils; art products; activity-based adhesive and cutting products; labeling solutions; baby gear and infant care products. The company was founded in 1903 and is headquartered in Hoboken, NJ.