Newell Brands Gets a Hold Rating from Jefferies


In a report released today, Kevin Grundy from Jefferies assigned a Hold rating to Newell Brands (NYSE: NWL), with a price target of $30. The company’s shares opened today at $26.55, close to its 52-week low of $23.85.

Grundy said:

“NWL announced this morning that Pres. Mark Tarchetti, a longtime key aide to CEO Mike Polk, is resigning effective 5/25, w/ Mr. Polk assuming his responsibilities. Some leadership changes were inevitable following the turnover of the majority of the BOD, the co.’s underperformance since 2Q17, and the right-sizing of the biz; however, Mr. Tarchetti’s departure comes as a surprise to us given his close relationship with Mr. Polk and his value to the organization.”

According to TipRanks.com, Grundy is a 4-star analyst with an average return of 6.8% and a 57.1% success rate. Grundy covers the Consumer Goods sector, focusing on stocks such as Coca-Cola European Partners, Edgewell Personal Care, and Monster Beverage Corp.

Currently, the analyst consensus on Newell Brands is Moderate Buy and the average price target is $30.40, representing a 14.5% upside.

In a report issued on May 4, Oppenheimer also assigned a Hold rating to the stock.

See today’s analyst top recommended stocks >>

Newell Brands’ market cap is currently $12.87B and has a P/E ratio of 5.98. The company has a Price to Book ratio of 0.91.

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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: Writing, Home Solutions, Tools, Commercial Products, Baby & Parenting, Branded Consumables, Consumer Solutions, Outdoor Solutions, and Process Solutions.

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