Newell Brands (NASDAQ:NWL – Get Rating) had its price target reduced by analysts at Wells Fargo & Company from $21.00 to $20.00 in a research report issued on Tuesday, Stock Target Advisor reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 9.05% from the stock’s previous close.
NWL has been the topic of a number of other research reports. Raymond James cut their target price on shares of Newell Brands from $33.00 to $28.00 and set a “strong-buy” rating on the stock in a research note on Monday, April 18th. JPMorgan Chase & Co. cut their target price on shares of Newell Brands from $29.00 to $26.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 30th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Newell Brands from $25.00 to $22.00 in a research note on Tuesday. Finally, TheStreet raised shares of Newell Brands from a “c+” rating to a “b” rating in a research note on Friday, April 29th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $26.00.
NASDAQ:NWL traded up $0.23 during trading hours on Tuesday, reaching $18.34. 74,622 shares of the company were exchanged, compared to its average volume of 3,927,568. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.39 and a quick ratio of 0.66. The firm has a market cap of $7.58 billion, a price-to-earnings ratio of 10.99 and a beta of 0.71. Newell Brands has a 52-week low of $17.40 and a 52-week high of $27.82. The stock has a 50 day simple moving average of $21.47 and a 200 day simple moving average of $22.33.
A number of hedge funds have recently made changes to their positions in the business. Bank of America Corp DE grew its holdings in Newell Brands by 24.5% during the 1st quarter. Bank of America Corp DE now owns 3,405,566 shares of the company’s stock worth $72,913,000 after acquiring an additional 669,232 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Newell Brands by 65.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 65,904 shares of the company’s stock valued at $1,411,000 after buying an additional 25,963 shares during the period. Kestra Private Wealth Services LLC boosted its holdings in shares of Newell Brands by 5.5% in the 1st quarter. Kestra Private Wealth Services LLC now owns 23,486 shares of the company’s stock valued at $503,000 after buying an additional 1,226 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in shares of Newell Brands by 26.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 205,872 shares of the company’s stock valued at $4,408,000 after buying an additional 42,977 shares during the period. Finally, Weiss Multi Strategy Advisers LLC acquired a new position in shares of Newell Brands in the 1st quarter valued at about $5,353,000. 84.07% of the stock is owned by institutional investors.
About Newell Brands (Get Rating)
Newell Brands Inc designs, manufactures, sources, and distributes consumer and commercial products worldwide. It operates in five segments: Commercial Solutions, Home Appliances, Home Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment provides commercial cleaning and maintenance solutions; closet and garage organization products; hygiene systems and material handling solutions; and home and security, and smoke and carbon monoxide alarms products under the BRK, First Alert, Mapa, Quickie, Rubbermaid, Rubbermaid Commercial Products, and Spontex brands.
- Get a free copy of the StockNews.com research report on Newell Brands (NWL)
- ABM Industries, A Clean Play For Dirty Economic Times
- Should Silver Stocks Be A Part Of Your Portfolio?
- Don’t Get Too Bullish On Lennar Even Though It’s A Good Buy
- Dividend-Paying Midstream Oil Companies That Could Help You The Mitigate Market Volatility
- Two Defensive Stocks To Get Aggressive With
Want More Great Investing Ideas?
- Bear Market Game Plan!
- The 10 Best Stocks to Own in 2022
- 7 Stocks to Buy and Hold Forever
- 3 Stocks to DOUBLE This Year
Receive News & Ratings for Newell Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newell Brands and related companies with MarketBeat.com's FREE daily email newsletter.