Canaccord Genuity Group Issues Pessimistic Forecast for Newell Brands (NASDAQ:NWL) Stock Price

Newell Brands (NASDAQ:NWL - Get Free Report) had its target price lowered by research analysts at Canaccord Genuity Group from $15.00 to $14.00 in a research note issued on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock. Canaccord Genuity Group's price target would indicate a potential upside of 99.71% from the stock's previous close.

Other equities analysts have also recently issued reports about the stock. Barclays raised their price target on shares of Newell Brands from $10.00 to $11.00 and gave the stock an "overweight" rating in a research note on Friday, January 17th. Wells Fargo & Company raised their price target on shares of Newell Brands from $9.00 to $11.00 and gave the stock an "equal weight" rating in a research note on Tuesday, January 7th. UBS Group raised their price target on shares of Newell Brands from $9.50 to $10.50 and gave the stock a "neutral" rating in a research note on Thursday, January 16th. JPMorgan Chase & Co. raised their price target on shares of Newell Brands from $9.00 to $10.00 and gave the stock a "neutral" rating in a research note on Thursday, January 16th. Finally, Truist Financial raised shares of Newell Brands from a "hold" rating to a "buy" rating and raised their target price for the company from $10.00 to $17.00 in a research note on Monday, December 9th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Newell Brands has an average rating of "Hold" and a consensus price target of $10.81.

Newell Brands Stock Down 1.1 %

NWL stock traded down $0.08 during mid-day trading on Monday, hitting $7.01. 7,817,580 shares of the company were exchanged, compared to its average volume of 7,568,041. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.50 and a current ratio of 0.99. The firm has a market cap of $2.92 billion, a P/E ratio of -11.68, a P/E/G ratio of 1.09 and a beta of 0.89. The firm's 50 day simple moving average is $9.99 and its 200 day simple moving average is $8.70. Newell Brands has a 1-year low of $5.39 and a 1-year high of $11.78.

Newell Brands (NASDAQ:NWL - Get Free Report) last announced its earnings results on Friday, February 7th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. Newell Brands had a negative net margin of 3.22% and a positive return on equity of 10.22%. During the same quarter in the prior year, the company posted $0.22 EPS. On average, sell-side analysts predict that Newell Brands will post 0.65 EPS for the current fiscal year.

Insiders Place Their Bets

In other Newell Brands news, insider Tracy L. Platt sold 23,343 shares of Newell Brands stock in a transaction on Friday, December 6th. The shares were sold at an average price of $10.31, for a total transaction of $240,666.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.58% of the company's stock.

Hedge Funds Weigh In On Newell Brands

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Harvest Fund Management Co. Ltd acquired a new stake in shares of Newell Brands during the fourth quarter worth $46,000. Venturi Wealth Management LLC acquired a new stake in shares of Newell Brands during the third quarter worth $70,000. Atomi Financial Group Inc. acquired a new stake in shares of Newell Brands during the third quarter worth $79,000. Claro Advisors LLC acquired a new stake in shares of Newell Brands during the third quarter worth $79,000. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Newell Brands by 140.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 7,912 shares of the company's stock worth $79,000 after buying an additional 4,617 shares in the last quarter. 92.50% of the stock is owned by institutional investors.

About Newell Brands

Newell Brands Inc engages in the design, manufacture, sourcing, and distribution of consumer and commercial products worldwide. The company operates in three segments: Home and Commercial Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment provides commercial cleaning and maintenance solution products under the Rubbermaid, Rubbermaid Commercial Products, Mapa, and Spontex brands; closet and garage organization products; hygiene systems and material handling solutions; household products, such as kitchen appliances under the Crockpot, Mr.