Newell Brands (NASDAQ:NWL) Price Target Raised to $8.00

Newell Brands (NASDAQ:NWL) had its price objective lifted by stock analysts at Wells Fargo & Company from $7.00 to $8.00 in a research report issued on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential downside of 0.74% from the stock’s current price.

Other analysts also recently issued research reports about the company. Canaccord Genuity Group lifted their target price on Newell Brands from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Monday. Citigroup increased their price objective on Newell Brands from $7.50 to $8.00 and gave the stock a “neutral” rating in a research report on Monday. Morgan Stanley dropped their price objective on shares of Newell Brands from $8.50 to $7.75 and set an “equal weight” rating for the company in a research note on Monday, February 12th. UBS Group cut Newell Brands from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $10.00 to $8.50 in a research report on Friday, February 16th. Finally, Royal Bank of Canada dropped their target price on shares of Newell Brands from $9.00 to $7.50 and set a “sector perform” rating for the company in a research report on Monday, February 12th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Newell Brands presently has an average rating of “Hold” and an average target price of $8.52.

Newell Brands Trading Up 3.5 %

Shares of NASDAQ NWL traded up $0.27 during midday trading on Monday, reaching $8.06. 3,332,229 shares of the stock were exchanged, compared to its average volume of 5,082,770. Newell Brands has a 12 month low of $6.49 and a 12 month high of $12.02. The company has a market capitalization of $3.35 billion, a price-to-earnings ratio of -11.18, a P/E/G ratio of 1.54 and a beta of 0.95. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.15 and a quick ratio of 0.58. The business has a 50-day simple moving average of $7.49 and a two-hundred day simple moving average of $7.74.

Newell Brands (NASDAQ:NWL) last posted its earnings results on Friday, April 26th. The company reported ($0.07) earnings per share for the quarter, hitting the consensus estimate of ($0.07). Newell Brands had a positive return on equity of 11.21% and a negative net margin of 3.70%. The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same period in the previous year, the company posted ($0.06) earnings per share. The company’s revenue for the quarter was down 5.8% on a year-over-year basis. As a group, equities research analysts expect that Newell Brands will post 0.56 EPS for the current year.

Institutional Trading of Newell Brands

Several hedge funds and other institutional investors have recently made changes to their positions in NWL. Mesirow Financial Investment Management Inc. acquired a new stake in shares of Newell Brands in the first quarter valued at about $281,000. Verity & Verity LLC bought a new stake in shares of Newell Brands in the 1st quarter valued at $233,000. Bell Bank grew its holdings in Newell Brands by 14.0% during the 1st quarter. Bell Bank now owns 683,807 shares of the company’s stock worth $5,491,000 after acquiring an additional 84,004 shares during the period. New Mexico Educational Retirement Board bought a new stake in shares of Newell Brands during the 1st quarter valued at about $177,000. Finally, Accurate Wealth Management LLC acquired a new stake in shares of Newell Brands during the 1st quarter worth approximately $88,000. 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.