Newell Brands (NWL) Gets a Hold Rating from Jefferies


In a report released yesterday, Kevin Grundy from Jefferies maintained a Hold rating on Newell Brands (NWL), with a price target of $15. The company’s shares closed yesterday at $15.45, close to its 52-week low of $15.12.

Grundy commented:

“NWL announced that CEO, Mike Polk, will retire at the end of 2Q and that the co. will consider internal/external candidates to replace him. The news should not come as a big surprise given myriad issues (many self-inflicted, others external) that have plagued Mr. Polk’s tenure since the JAH deal. NWL’s CFO, C. Peterson, brings ops. exp. and is the likely front-runner to replace Mr. Polk, in our view. NWL may get sentiment lift, but turnaround will take time.”

According to TipRanks.com, Grundy is a 4-star analyst with an average return of 5.2% and a 61.7% success rate. Grundy covers the Consumer Goods sector, focusing on stocks such as Coca-Cola European Partners plc, Interlink Electronics, Inc., and Constellation Brands Inc.

Newell Brands has an analyst consensus of Moderate Buy, with a price target consensus of $19.17.

See today’s analyst top recommended stocks >>

The company has a one-year high of $29.23 and a one-year low of $15.12. Currently, Newell Brands has an average volume of 7.13M.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.