[The Street] Jarden Corp (NYSE:JAH)(TREND ANALYSIS) are gaining by 4.89% to $52.54 in mid-morning trading on Tuesday, as the stock continues to rise following reports released Monday about the possibility of a merger between the consumer products company and Newell Rubbermaid (NWL).
The two companies are said to be in talks regarding a merger, sources told the Wall Street Journal. Terms of the possible deal have yet to be determined and there is always the possibility that the discussions will amount to nothing.
An average takeover premium could value Jarden at more than $13 billion, the Journal noted. If the two companies were to team up the combined entity would have about $14 billion in annual sales.
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Jarden Corp (NYSE:JAH) stock is currently trading 7.71% below its 52-week-high, 22% above its 52-week-low. The 1-year stock price history is in the range of $43.19 – $57.09. Jarden Corp (JAH) has a price to earnings ratio of 45.66 versus Consumer Goods sector average of 13.32. JAH stock price has outperformed the S&P 500 by 7.2%. The Athletic Equipment company is currently valued at $11.61 billion, and its share price closed the last trading session at $52.69. The stock has a 50-day moving average of $47.23 and a 200-day moving average of $51.32.
Jarden Corp (JAH) current short interest stands at 8.92 million shares. It has increased by 1% from the same period of last month. Around 5% of the company’s shares, which are float, are short sold. With a 10-days average volume of 3.23 million shares, the number of days required to cover the short positions stand at 2.8 days.
JAH reported last quarter earnings on October 29. The Athletic Equipment company announced earnings per share of $0.8 against a consensus Street estimate of $0.8, matching the average estimate. This corresponds to an increase of $0.21 compared to the same quarter of the previous fiscal year.
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There are currently seventeen analysts that cover Jarden Corp stock. Of those seventeen, sixteen have a Buy rating, one has a Hold rating. On a consensus basis this yields to a Buy rating. The consensus target price stands at $59.87.
A recent analyst activity consisted of Barclays who initiated their coverage on the stock with Overweight rating on November 9. Barclays fixed their price target at $54. This corresponds to a 2.49% upside from the last closing price. On the date of report, the stock closed at $48.65.
RBC Capital upgraded their Outperform rating to Top Pick on November 3. On the date of report, the stock closed at $48.5.
Another research firm was Piper Jaffray who reiterated their Overweight stance on October 30. Piper Jaffray decreased price target from $58 to $56. This translates to a 6.28% upside from the last closing price. On the date of report, the stock closed at $44.8.
Company snapshot
Jarden Corporation provides a broad range of consumer products. The Company’s product segments include Outdoor Solutions, Consumer Solutions and Branded Consumables. Jarden sells branded products through a variety of distribution channels, including club, department store, drug, grocery, mass merchant, sporting goods and specialty retailers, as well as direct to consumers.
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