Newell Brands (NWL) Receives a Hold from RBC Capital

By Ryan Adsit

In a report released yesterday, Nik Modi from RBC Capital maintained a Hold rating on Newell Brands (NWLResearch Report), with a price target of $16.00. The company’s shares closed last Thursday at $17.52.

According to TipRanks.com, Modi is a 5-star analyst with an average return of 9.1% and a 70.6% success rate. Modi covers the Consumer Goods sector, focusing on stocks such as The Estée Lauder Companies, Spectrum Brands Holdings, and Mondelez International.

The word on The Street in general, suggests a Hold analyst consensus rating for Newell Brands with a $15.29 average price target, representing a -11.9% downside. In a report issued on July 16, J.P. Morgan also maintained a Hold rating on the stock with a $17.00 price target.

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The company has a one-year high of $20.99 and a one-year low of $10.44. Currently, Newell Brands has an average volume of 3.67M.

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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.