Newell Brands (NASDAQ:NWL) Raised to Buy at Truist Financial

Newell Brands (NASDAQ:NWL - Get Free Report) was upgraded by equities researchers at Truist Financial from a "hold" rating to a "buy" rating in a research note issued to investors on Monday, Marketbeat Ratings reports. The brokerage currently has a $17.00 target price on the stock, up from their prior target price of $10.00. Truist Financial's target price suggests a potential upside of 47.70% from the stock's previous close.

NWL has been the topic of several other reports. Citigroup downgraded Newell Brands from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 13th. Wells Fargo & Company upped their target price on shares of Newell Brands from $8.00 to $9.00 and gave the company an "equal weight" rating in a research note on Monday, October 28th. JPMorgan Chase & Co. decreased their price target on shares of Newell Brands from $9.00 to $8.00 and set a "neutral" rating on the stock in a research report on Friday, October 11th. Barclays raised shares of Newell Brands from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $8.00 to $10.00 in a research report on Wednesday, November 20th. Finally, Canaccord Genuity Group lifted their target price on Newell Brands from $13.00 to $15.00 and gave the stock a "buy" rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, Newell Brands currently has a consensus rating of "Hold" and an average target price of $10.00.

Newell Brands Stock Performance

Shares of NASDAQ NWL traded up $1.20 during trading hours on Monday, hitting $11.51. 12,883,955 shares of the stock were exchanged, compared to its average volume of 5,534,559. Newell Brands has a one year low of $5.39 and a one year high of $11.58. The company's 50 day moving average is $8.57 and its 200 day moving average is $7.64. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.99 and a quick ratio of 0.50. The firm has a market capitalization of $4.79 billion, a P/E ratio of -19.25, a P/E/G ratio of 0.95 and a beta of 0.90.

Newell Brands (NASDAQ:NWL - Get Free Report) last released its quarterly earnings results on Friday, October 25th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.16. The company had revenue of $1.95 billion during 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 quarterly revenue was down 2.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.39 earnings per share. On average, research analysts expect that Newell Brands will post 0.66 EPS for the current year.

Insider Transactions at Newell Brands

In other news, insider Bradford R. Turner sold 20,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $8.96, for a total transaction of $179,200.00. Following the completion of the sale, the insider now owns 230,254 shares of the company's stock, valued at approximately $2,063,075.84. This trade represents a 7.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 value of $240,666.33. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Newell Brands

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NWL. Rothschild Investment LLC bought a new stake in shares of Newell Brands during the second quarter valued at approximately $26,000. Gradient Investments LLC acquired a new stake in shares of Newell Brands in the 2nd quarter valued at $46,000. Quarry LP raised its position 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 acquiring an additional 4,056 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of Newell Brands during the second quarter valued at $58,000. Finally, Venturi Wealth Management LLC bought a new position in Newell Brands in the third quarter valued at about $70,000. Institutional investors and hedge funds own 92.50% of the company's stock.

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.