Newell Brands Gets a Hold Rating from Jefferies

Jefferies analyst Kevin Grundy maintained a Hold rating on Newell Brands (NYSE: NWL) today and set a price target of $29. The company’s shares closed yesterday at $26.69, close to its 52-week low of $23.85.

Grundy said:

“NWL printed a low-quality 1Q incl. another core sale miss (-3.5% vs. Street -2.1%) and OM % pressure resulting in 3% OI downside. 1Q EPS of $0.34 beat Street est. of $0.26, though flattered by $0.10 from taxes. Lower-end of FY18 guide now expected, Waddington proceeds in-line, and asset sales move higher (in-line w/Icahn’s plan). Messy 1Q/guide down not a big surprise, but we see some risk to NWL’s multiple at 9.5x EV/EBITDA given fundamental pressures.”

According to TipRanks.com, Grundy is a 4-star analyst with an average return of 7.0% and a 58.7% 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 Hold, with a price target consensus of $28.40.

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Newell Brands’ market cap is currently $12.95B and has a P/E ratio of 4.74. The company has a book value ratio of 0.9155.

Based on the recent corporate insider activity of 38 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: Writing, Home Solutions, Tools, Commercial Products, Baby & Parenting, Branded Consumables, Consumer Solutions, Outdoor Solutions, and Process Solutions.