Raymond James Sticks to Their Hold Rating for Newell Brands (NWL)

Raymond James analyst Joseph Altobello maintained a Hold rating on Newell Brands (NWLResearch Report) today. The company’s shares closed last Friday at $17.66.

According to TipRanks.com, Altobello is a 5-star analyst with an average return of 8.8% and a 59.6% success rate. Altobello covers the Consumer Goods sector, focusing on stocks such as The Estée Lauder Companies, MasterCraft Boat Holdings, and Church & Dwight.

Newell Brands has an analyst consensus of Hold, with a price target consensus of $17.50, which is a -3.6% downside from current levels. In a report issued on October 28, RBC Capital also maintained a Hold rating on the stock with a $18.00 price target.

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Based on Newell Brands’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $2.11 billion and net profit of $78 million. In comparison, last year the company earned revenue of $2.48 billion and had a net profit of $90 million.

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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.