Newell Brands (NASDAQ:NWL) Stock Price Down 4.6% Following Analyst Downgrade

Newell Brands Inc. (NASDAQ:NWL - Get Free Report)'s share price dropped 4.6% during mid-day trading on Monday after Royal Bank of Canada lowered their price target on the stock from $9.50 to $9.00. Royal Bank of Canada currently has a sector perform rating on the stock. Newell Brands traded as low as $6.81 and last traded at $6.81. Approximately 2,867,737 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 6,598,353 shares. The stock had previously closed at $7.13.

A number of other equities research analysts have also issued reports on NWL. Canaccord Genuity Group cut their target price on Newell Brands from $15.00 to $14.00 and set a "buy" rating on the stock in a research report on Monday. JPMorgan Chase & Co. upped their price objective on shares of Newell Brands from $9.00 to $10.00 and gave the company a "neutral" rating in a research note on Thursday, January 16th. Wells Fargo & Company dropped their target price on shares of Newell Brands from $11.00 to $9.00 and set an "equal weight" rating on the stock in a research report on Monday. UBS Group increased their target price on Newell Brands from $9.50 to $10.50 and gave the company a "neutral" rating in a report on Thursday, January 16th. Finally, Citigroup reduced their price target on shares of Newell Brands from $10.50 to $7.75 and set a "neutral" rating for the company in a research report on Monday. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $10.81.

Insider Buying and Selling

In other news, insider Tracy L. Platt sold 23,343 shares of Newell Brands stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $10.31, for a total value of $240,666.33. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.58% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Harvest Fund Management Co. Ltd bought a new stake in shares of Newell Brands in the fourth quarter valued at approximately $46,000. Venturi Wealth Management LLC acquired a new stake in Newell Brands during the third quarter valued at approximately $70,000. Claro Advisors LLC bought a new stake in shares of Newell Brands in the 3rd quarter valued at approximately $79,000. Smartleaf Asset Management LLC boosted its stake in Newell Brands by 140.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 7,912 shares of the company's stock valued at $79,000 after buying an additional 4,617 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in shares of Newell Brands by 24.8% in the 4th quarter. Versant Capital Management Inc now owns 8,376 shares of the company's stock valued at $83,000 after purchasing an additional 1,666 shares in the last quarter. 92.50% of the stock is currently owned by institutional investors and hedge funds.

Newell Brands Stock Down 0.8 %

The firm has a market cap of $2.93 billion, a price-to-earnings ratio of -11.72, a PEG ratio of 1.09 and a beta of 0.89. 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 business's 50-day moving average is $9.99 and its 200-day moving average is $8.70.

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 positive return on equity of 10.22% and a negative net margin of 3.22%. During the same period in the prior year, the company posted $0.22 EPS. On average, equities analysts predict that Newell Brands Inc. will post 0.65 EPS for the current year.

Newell Brands Company Profile

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.