Wells Fargo & Company Cuts Newell Brands (NASDAQ:NWL) Price Target to $9.00

Newell Brands (NASDAQ:NWL) had its price objective cut by Wells Fargo & Company from $11.00 to $9.00 in a report issued on Monday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Other equities analysts have also recently issued reports about the stock. Barclays lifted their price objective on shares of Newell Brands from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Truist Financial upgraded Newell Brands from a “hold” rating to a “buy” rating and lifted their price target for the stock from $10.00 to $17.00 in a research report on Monday, December 9th. UBS Group upped their price objective on Newell Brands from $9.50 to $10.50 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Canaccord Genuity Group dropped their target price on Newell Brands from $15.00 to $14.00 and set a “buy” rating for the company in a report on Monday. Finally, JPMorgan Chase & Co. increased their price target on Newell Brands from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $10.81.

Newell Brands Trading Down 3.3 %

Shares of NWL stock opened at $7.09 on Monday. The company has a current ratio of 0.99, a quick ratio of 0.50 and a debt-to-equity ratio of 1.43. The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of -11.82, a price-to-earnings-growth ratio of 1.09 and a beta of 0.89. Newell Brands has a 12-month low of $5.39 and a 12-month high of $11.78. The stock’s 50-day moving average price is $10.05 and its 200-day moving average price is $8.71.

Newell Brands (NASDAQ:NWL) last released its quarterly earnings results on Friday, February 7th. The company reported $0.16 earnings per share 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 quarter in the previous year, the firm posted $0.22 earnings per share. Equities research analysts predict that Newell Brands will post 0.65 EPS 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 company’s stock in a transaction dated 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 SEC, which is available through this link. 0.61% of the stock is currently owned by corporate insiders.

Institutional Trading of Newell Brands

A number of large investors have recently modified their holdings of the company. PFG Investments LLC increased its position in shares of Newell Brands by 6.6% during the fourth quarter. PFG Investments LLC now owns 15,812 shares of the company’s stock worth $157,000 after purchasing an additional 981 shares in the last quarter. TriaGen Wealth Management LLC grew its stake in Newell Brands by 1.7% during the 4th quarter. TriaGen Wealth Management LLC now owns 58,514 shares of the company’s stock worth $583,000 after buying an additional 991 shares during the last quarter. Arizona State Retirement System increased its position in Newell Brands by 0.9% during the 4th quarter. Arizona State Retirement System now owns 120,668 shares of the company’s stock valued at $1,202,000 after buying an additional 1,125 shares in the last quarter. Optas LLC raised its stake in Newell Brands by 11.8% in the fourth quarter. Optas LLC now owns 12,397 shares of the company’s stock valued at $123,000 after buying an additional 1,306 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in Newell Brands by 3.5% in the third quarter. CIBC Asset Management Inc now owns 39,590 shares of the company’s stock worth $304,000 after acquiring an additional 1,345 shares in the last quarter. Hedge funds and other institutional investors 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.