RBC Capital analyst Nik Modi reiterated a Hold rating on Newell Brands (NYSE: NWL) yesterday and set a price target of $24. The company’s shares opened today at $21.41, close to its 52-week low of $20.30.
According to TipRanks.com, Modi is a 4-star analyst with an average return of 8.6% and a 72.0% success rate. Modi covers the Consumer Goods sector, focusing on stocks such as Edgewell Personal Care, Monster Beverage Corp, and Keurig Dr Pepper Inc.
The word on The Street in general, suggests a Hold analyst consensus rating for Newell Brands with a $26.86 average price target, implying a 25.5% upside from current levels. In a report released yesterday, Jefferies also assigned a Hold rating to the stock with a $23 price target.
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Based on Newell Brands’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $330 million. In comparison, last year the company had a net profit of $223 million.
Based on the recent corporate insider activity of 31 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.
