In a report released today, Nik Modi from RBC Capital maintained a Hold rating on Newell Brands (NWL), with a price target of $16.00. The company’s shares closed last Monday at $10.62, close to its 52-week low of $10.57.
According to TipRanks.com, Modi is a 3-star analyst with an average return of 0.7% and a 56.3% success rate. Modi covers the Consumer Goods sector, focusing on stocks such as The Estée Lauder Companies, Mondelez International, and Edgewell Personal Care.
Currently, the analyst consensus on Newell Brands is a Moderate Buy with an average price target of $18.33, implying a 60.4% upside from current levels. In a report released today, Morgan Stanley also maintained a Hold rating on the stock with a $13.00 price target.
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Based on Newell Brands’ latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $794 million. In comparison, last year the company had a GAAP net loss of $135 million.
Based on the recent corporate insider activity of 55 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: Appliances and Cookware; Food and Commercial, Home and Outdoor Living; and Learning and Development.
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