Newell Brands Receives a Buy from Wells Fargo


In a report released today, Bonnie Herzog from Wells Fargo reiterated a Buy rating on Newell Brands (NYSE: NWL). The company’s shares opened today at $25.70, close to its 52-week low of $22.60.

Herzog commented:

“We note that NWL has a total of a $3.6B share repurchase authorization and 10b5­1 plan in place. We believe this should provide much needed support to NWL’s share price and therefore we reiterate our Outperform rating.”

According to TipRanks.com, Herzog is a 4-star analyst with an average return of 7.3% and a 68.5% success rate. Herzog covers the Consumer Goods sector, focusing on stocks such as The Estée Lauder Companies Inc, Edgewell Personal Care, and Colgate-Palmolive.

Newell Brands has an analyst consensus of Moderate Buy, with a price target consensus of $31.33.

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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 $223 million.

Based on the recent corporate insider activity of 27 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.

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: Live, Learn, Work, Play, and Other. The Live segment sources, markets, and distributes a line of household products.

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