Newell Brands (NASDAQ:NWL) Sets New 52-Week High After Analyst Upgrade

Newell Brands Inc. (NASDAQ:NWL - Get Free Report) shares hit a new 52-week high during trading on Monday after Wells Fargo & Company raised their price target on the stock from $8.00 to $9.00. Wells Fargo & Company currently has an equal weight rating on the stock. Newell Brands traded as high as $9.28 and last traded at $9.28, with a volume of 934991 shares traded. The stock had previously closed at $8.73.

A number of other research analysts also recently weighed in on NWL. Royal Bank of Canada increased their price target on Newell Brands from $7.50 to $9.50 and gave the company a "sector perform" rating in a research note on Monday, July 29th. JPMorgan Chase & Co. cut their price target on Newell Brands from $9.00 to $8.00 and set a "neutral" rating on the stock in a research note on Friday, October 11th. Deutsche Bank Aktiengesellschaft increased their price target on Newell Brands from $8.00 to $9.00 and gave the company a "hold" rating in a research note on Monday, July 29th. Citigroup cut shares of Newell Brands from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 13th. Finally, Truist Financial upped their price objective on shares of Newell Brands from $8.00 to $10.00 and gave the company a "hold" rating in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $8.90.

Hedge Funds Weigh In On Newell Brands

Hedge funds have recently modified their holdings of the stock. Rothschild Investment LLC acquired a new stake in Newell Brands in the 2nd quarter valued at about $26,000. Gradient Investments LLC bought a new position in shares of Newell Brands during the second quarter worth approximately $46,000. Quarry LP increased its holdings in shares of Newell Brands by 104.4% during the second quarter. Quarry LP now owns 7,941 shares of the company's stock worth $51,000 after purchasing an additional 4,056 shares during the period. Innealta Capital LLC bought a new position in shares of Newell Brands during the second quarter worth approximately $58,000. Finally, Empowered Funds LLC bought a new position in shares of Newell Brands during the first quarter worth approximately $80,000. Institutional investors own 92.50% of the company's stock.

Newell Brands Price Performance

The company's fifty day moving average price is $7.48 and its 200 day moving average price is $7.33. The company has a market capitalization of $3.96 billion, a P/E ratio of -15.88, a PEG ratio of 1.52 and a beta of 0.91. The company has a quick ratio of 0.50, a current ratio of 0.99 and a debt-to-equity ratio of 1.43.

Newell Brands (NASDAQ:NWL - Get Free Report) last announced its earnings results on Friday, October 25th. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. The company had revenue of $1.95 billion for the quarter, compared to analysts' expectations of $1.96 billion. Newell Brands had a negative net margin of 3.22% and a positive return on equity of 10.22%. The business's revenue for the quarter was down 2.6% on a year-over-year basis. During the same period last year, the firm earned $0.39 earnings per share. As a group, sell-side analysts forecast that Newell Brands Inc. will post 0.65 EPS for the current year.

Newell Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a $0.07 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.28 dividend on an annualized basis and a yield of 2.94%. Newell Brands's dividend payout ratio (DPR) is -46.67%.

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.