In a report released today, Joseph Altobello from Raymond James maintained a Hold rating on Newell Brands (NWL). The company’s shares closed last Friday at $26.96, close to its 52-week high of $27.87.
According to TipRanks.com, Altobello is a 5-star analyst with an average return of 20.7% and a 66.9% success rate. Altobello covers the Consumer Goods sector, focusing on stocks such as The Estée Lauder Companies, MasterCraft Boat Holdings, and Acushnet Holdings.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Newell Brands with a $26.86 average price target, which is a -2.3% downside from current levels. In a report issued on April 19, Morgan Stanley also maintained a Hold rating on the stock with a $27.00 price target.
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Based on Newell Brands’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.69 billion and net profit of $127 million. In comparison, last year the company earned revenue of $2.62 billion and had a net profit of $794 million.
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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: Food and Appliances; Home and Outdoor Living; and Learning and Development. The Food and Appliances segment includes household products, including kitchen appliances, gourmet cookware, bakeware and cutlery, food storage and home storage products and fresh preserving products. The Home and Outdoor Living segment consists of products for outdoor and outdoor-related activities, home fragrance products and connected home and security. The Learning and Development segment deals with writing instruments, including markers and highlighters, pens and pencils; art products; activity-based adhesive and cutting products; labeling solutions; baby gear and infant care products. The company was founded in 1903 and is headquartered in Hoboken, NJ.
