Canaccord Genuity Group Lowers Newell Brands (NASDAQ:NWL) Price Target to $14.00

Newell Brands (NASDAQ:NWL) had its price target decreased by Canaccord Genuity Group from $15.00 to $14.00 in a report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 96.35% from the company’s previous close.

Several other analysts also recently weighed in on the company. Wells Fargo & Company upped their price objective on Newell Brands from $9.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 7th. UBS Group lifted their target price on Newell Brands from $9.50 to $10.50 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Truist Financial raised shares of Newell Brands from a “hold” rating to a “buy” rating and upped their price objective for the company from $10.00 to $17.00 in a research note on Monday, December 9th. Barclays lifted their target price on Newell Brands from $10.00 to $11.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Finally, 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 report on Thursday, January 16th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $10.60.

Newell Brands Stock Down 26.4 %

NWL stock opened at $7.13 on Monday. Newell Brands has a twelve month low of $5.39 and a twelve month high of $11.78. 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 business has a 50 day moving average price of $10.15 and a two-hundred day moving average price of $8.72. The company has a market cap of $2.97 billion, a price-to-earnings ratio of -11.88, a P/E/G ratio of 1.09 and a beta of 0.89.

Newell Brands (NASDAQ:NWL) last posted its earnings results on Friday, February 7th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm posted $0.22 earnings per share. Analysts anticipate that Newell Brands will post 0.65 EPS for the current fiscal year.

Insider Activity

In other news, insider Tracy L. Platt sold 23,343 shares of the business’s stock in a transaction 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 accessible through this hyperlink. Corporate insiders own 0.58% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC lifted its position in Newell Brands by 140.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 7,912 shares of the company’s stock valued at $79,000 after purchasing an additional 4,617 shares during the last quarter. Versant Capital Management Inc lifted its holdings in Newell Brands by 24.8% during the 4th quarter. Versant Capital Management Inc now owns 8,376 shares of the company’s stock valued at $83,000 after buying an additional 1,666 shares in the last quarter. Venturi Wealth Management LLC bought a new position in Newell Brands in the third quarter worth approximately $70,000. Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Newell Brands during the 4th quarter worth $101,000. Finally, Claro Advisors LLC purchased a new position in Newell Brands during the 3rd quarter valued at about $79,000. 92.50% of the stock is currently owned by institutional investors.

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.