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OCTOBER 2, 2006
Cleaning Up At Newell Rubbermaid  After several years of disappointing results, Newell Rubbermaid (NWL
) is finally winning the Street's favor. A maker of kitchenware and toys, Newell is "regaining investor confidence as it turns around and gets back to providing consistent returns," says Lee Schultheis, investment chief at Alpha Hedged Strategies Fund, which owns stock. Newell has beaten analysts' forecasts in the past two quarters, he notes, and the stock jumped from 24 in July to 28.29 on Sept. 20. Schultheis expects it to hit 34 in a year, or 17 times his 2007 profit forecast of $2 a share. This year he expects Newell to earn $1.80, up from $1.60 in 2005. Strong results in the first half indicate a turnaround that "should continue in the second half," says Dara Mohsenian of JPMorgan Securities (JPM
), who rates it "overweight." Increased spending on R&D, adverti- sing and new products aided the turnaround, he adds.
Note: Unless otherwise noted, neither the sources cited in Inside Wall Street nor their firms hold positions in the stocks under discussion. Similarly, they have no investment banking or other financial relationships with them.  By Gene G. Marcial Get BusinessWeek directly on your desktop with our RSS feeds.  Add BusinessWeek news to your Web site with our headline feed. Click to buy an e-print or reprint of a BusinessWeek or BusinessWeek Online story or video. To subscribe online to BusinessWeek magazine, please click here. Learn more, go to the BusinessWeekOnline home page  | | |
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