Newell Brands (NASDAQ:NWL - Free Report) had its price objective reduced by Wells Fargo & Company from $11.00 to $9.00 in a research note released on Monday,Benzinga reports. They currently have an equal weight rating on the stock.
Other equities analysts also recently issued reports about the stock. Canaccord Genuity Group dropped their price target on shares of Newell Brands from $15.00 to $14.00 and set a "buy" rating on the stock in a research note on Monday. Barclays upped their target price on Newell Brands from $10.00 to $11.00 and gave the stock an "overweight" rating in a research report on Friday, January 17th. UBS Group lifted their price target on Newell Brands from $9.50 to $10.50 and gave the company a "neutral" rating in a report on Thursday, January 16th. Truist Financial upgraded Newell Brands from a "hold" rating to a "buy" rating and increased their price objective for the stock from $10.00 to $17.00 in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Newell Brands from $9.00 to $10.00 and gave the stock a "neutral" rating in a research report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $10.81.
Read Our Latest Analysis on NWL
Newell Brands Stock Down 0.8 %
NASDAQ NWL traded down $0.06 during trading on Monday, reaching $7.04. 5,295,017 shares of the company's stock were exchanged, compared to its average volume of 7,471,046. The company has a current ratio of 0.99, a quick ratio of 0.50 and a debt-to-equity ratio of 1.43. Newell Brands has a fifty-two week low of $5.39 and a fifty-two week high of $11.78. The company's fifty day simple moving average is $9.99 and its 200-day simple moving average is $8.70. The firm has a market capitalization of $2.93 billion, a PE ratio of -11.73, a P/E/G ratio of 1.09 and a beta of 0.89.
Newell Brands (NASDAQ:NWL - Get Free Report) last posted its quarterly 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 previous year, the company earned $0.22 earnings per share. Sell-side analysts predict that Newell Brands will post 0.65 EPS for the current year.
Insider Activity at Newell Brands
In other Newell Brands news, insider Tracy L. Platt sold 23,343 shares of the 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.58% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the stock. FMR LLC raised its holdings in Newell Brands by 233.6% in the 4th quarter. FMR LLC now owns 14,527,609 shares of the company's stock valued at $144,695,000 after acquiring an additional 10,172,696 shares in the last quarter. Hennessy Advisors Inc. bought a new stake in shares of Newell Brands during the fourth quarter valued at approximately $72,431,000. Victory Capital Management Inc. raised its stake in shares of Newell Brands by 5,324.8% in the third quarter. Victory Capital Management Inc. now owns 4,724,266 shares of the company's stock valued at $36,282,000 after purchasing an additional 4,637,180 shares in the last quarter. Norges Bank bought a new position in Newell Brands in the fourth quarter worth $37,174,000. Finally, FIL Ltd lifted its position in Newell Brands by 109.2% in the fourth quarter. FIL Ltd now owns 5,720,884 shares of the company's stock worth $56,980,000 after purchasing an additional 2,986,426 shares during the period. Institutional investors and hedge funds own 92.50% of the company's stock.
About Newell Brands
(
Get Free Report)
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.
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