Newell Brands (NASDAQ:NWL) Shares Gap Down - Time to Sell?

Shares of Newell Brands Inc. (NASDAQ:NWL - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $9.69, but opened at $7.68. Newell Brands shares last traded at $7.01, with a volume of 8,874,074 shares.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NWL. Barclays upped their price target on shares of Newell Brands from $10.00 to $11.00 and gave the company an "overweight" rating in a research note on Friday, January 17th. JPMorgan Chase & Co. boosted their price objective on Newell Brands from $9.00 to $10.00 and gave the stock a "neutral" rating in a report on Thursday, January 16th. Canaccord Genuity Group reduced their price objective on Newell Brands from $15.00 to $14.00 and set a "buy" rating for the company in a report on Monday. UBS Group boosted their price objective on Newell Brands from $9.50 to $10.50 and gave the stock a "neutral" rating in a report on Thursday, January 16th. Finally, Wells Fargo & Company reduced their price objective on Newell Brands from $11.00 to $9.00 and set an "equal weight" rating for the company in a report on Monday. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Newell Brands has a consensus rating of "Hold" and a consensus target price of $10.50.

Newell Brands Trading Up 6.9 %

The company has a quick ratio of 0.50, a current ratio of 0.99 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $3.12 billion, a P/E ratio of -12.49, a PEG ratio of 1.09 and a beta of 0.89. The firm has a 50 day moving average of $10.10 and a 200-day moving average of $8.72.

Newell Brands (NASDAQ:NWL - Get Free Report) last issued its quarterly earnings results on Friday, February 7th. The company reported $0.16 earnings per share (EPS) for the quarter, beating 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 previous year, the company earned $0.22 earnings per share. On average, equities research analysts predict that Newell Brands Inc. will post 0.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Newell Brands

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA grew its stake in shares of Newell Brands by 18.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 16,618,316 shares of the company's stock worth $127,629,000 after purchasing an additional 2,634,114 shares during the last quarter. Primecap Management Co. CA boosted its position in Newell Brands by 4.8% during the third quarter. Primecap Management Co. CA now owns 14,723,079 shares of the company's stock valued at $113,073,000 after acquiring an additional 674,015 shares during the last quarter. Hennessy Advisors Inc. bought a new position in shares of Newell Brands during the 4th quarter worth about $72,431,000. Victory Capital Management Inc. boosted its position in shares of Newell Brands by 43.7% during the 4th quarter. Victory Capital Management Inc. now owns 6,790,865 shares of the company's stock worth $67,637,000 after purchasing an additional 2,066,599 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Newell Brands by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 6,635,283 shares of the company's stock worth $50,973,000 after purchasing an additional 115,459 shares in the last quarter. 92.50% of the stock is currently owned by institutional investors and hedge funds.

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.