Jefferies analyst Kevin Grundy assigned a Hold rating to Newell Brands (NYSE: NWL) today and set a price target of $30. The company’s shares opened today at $23.59, close to its 52-week low of $22.60.
Grundy said:
“NWL announced today that CFO Ralph Nicoletti and CDO Richard Davies are leaving NWL, w/ Mr.”
According to TipRanks.com, Grundy is a 3-star analyst with an average return of 3.8% and a 58.0% success rate. Grundy covers the Consumer Goods sector, focusing on stocks such as Coca-Cola European Partners, Edgewell Personal Care, and Monster Beverage Corp.
Newell Brands has an analyst consensus of Moderate Buy, with a price target consensus of $30.40.
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Based on Newell Brands’ latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $53.3 million. In comparison, last year the company had a net profit of $639 million.
Based on the recent corporate insider activity of 32 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: Live, Learn, Work, Play, and Other. The Live segment sources , markets, and distributes a line of household products.
