Newell Brands (NASDAQ:NWL) Price Target Raised to $9.00

Newell Brands (NASDAQ:NWL) had its price target boosted by Wells Fargo & Company from $8.00 to $9.00 in a report released on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential downside of 4.76% from the company’s current price.

A number of other research firms have also recently issued reports on NWL. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Newell Brands from $8.00 to $9.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Royal Bank of Canada lifted their target price on shares of Newell Brands from $7.50 to $9.50 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. Canaccord Genuity Group lifted their target price on shares of Newell Brands from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Monday. Citigroup cut shares of Newell Brands from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 13th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Newell Brands from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, October 11th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Newell Brands currently has an average rating of “Hold” and a consensus price target of $8.90.

Newell Brands Stock Performance

Shares of Newell Brands stock traded up $0.72 during midday trading on Monday, hitting $9.45. The company had a trading volume of 4,614,030 shares, compared to its average volume of 5,484,204. Newell Brands has a 12-month low of $5.39 and a 12-month high of $9.64. The company has a quick ratio of 0.51, a current ratio of 0.98 and a debt-to-equity ratio of 1.32. The stock has a market cap of $3.92 billion, a price-to-earnings ratio of -13.08, a PEG ratio of 1.31 and a beta of 0.91. The company has a fifty day simple moving average of $7.44 and a 200 day simple moving average of $7.32.

Newell Brands (NASDAQ:NWL) last posted its quarterly earnings results on Friday, October 25th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.16. The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.96 billion. Newell Brands had a negative net margin of 3.43% and a positive return on equity of 13.04%. Newell Brands’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period last year, the firm posted $0.39 EPS. As a group, analysts predict that Newell Brands will post 0.65 earnings per share for the current fiscal year.

Institutional Trading of Newell Brands

Hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its stake in shares of Newell Brands by 29.2% during the second quarter. Dimensional Fund Advisors LP now owns 11,818,316 shares of the company’s stock worth $75,753,000 after buying an additional 2,668,384 shares during the period. Primecap Management Co. CA increased its stake in shares of Newell Brands by 17.7% during the second quarter. Primecap Management Co. CA now owns 14,049,064 shares of the company’s stock worth $90,054,000 after buying an additional 2,109,892 shares during the period. AQR Capital Management LLC increased its stake in shares of Newell Brands by 106.7% during the second quarter. AQR Capital Management LLC now owns 2,546,418 shares of the company’s stock worth $16,042,000 after buying an additional 1,314,514 shares during the period. M&G Plc purchased a new stake in shares of Newell Brands during the first quarter worth approximately $9,992,000. Finally, EVR Research LP increased its stake in shares of Newell Brands by 340.0% during the second quarter. EVR Research LP now owns 660,000 shares of the company’s stock worth $4,231,000 after buying an additional 510,000 shares during the period. 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.