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

Newell Brands (NASDAQ:NWL) had its price objective cut by research analysts at Wells Fargo & Company from $11.00 to $9.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 22.78% from the company’s previous close.

Several other research analysts also recently weighed in on NWL. Canaccord Genuity Group dropped their target price on Newell Brands from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Monday. Barclays boosted their price target on 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 raised shares of Newell Brands from a “hold” rating to a “buy” rating and increased their price objective for the company from $10.00 to $17.00 in a research report on Monday, December 9th. JPMorgan Chase & Co. boosted their target price on shares of Newell Brands from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Finally, UBS Group raised their price target on shares of Newell Brands from $9.50 to $10.50 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Newell Brands currently has a consensus rating of “Hold” and a consensus price target of $10.50.

Newell Brands Stock Performance

Shares of Newell Brands stock opened at $7.33 on Monday. The company has a market capitalization of $3.05 billion, a PE ratio of -12.22, a P/E/G ratio of 1.09 and a beta of 0.89. The company has a 50-day simple moving average of $10.10 and a two-hundred day simple moving average of $8.72. Newell Brands has a one year low of $5.39 and a one year high of $11.78. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.50 and a current ratio of 0.99.

Newell Brands (NASDAQ:NWL) last posted its earnings results on Friday, February 7th. The company reported $0.16 EPS for the quarter, beating 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 business earned $0.22 earnings per share. Research analysts expect that Newell Brands will post 0.65 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Tracy L. Platt sold 23,343 shares of Newell Brands stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $10.31, for a total transaction of $240,666.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.58% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Newell Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in NWL. Vanguard Group Inc. boosted its holdings in Newell Brands by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 46,892,882 shares of the company’s stock worth $467,053,000 after buying an additional 1,974,823 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Newell Brands by 18.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 16,618,316 shares of the company’s stock worth $127,629,000 after acquiring an additional 2,634,114 shares in the last quarter. Primecap Management Co. CA grew its position in shares of Newell Brands by 4.8% during the 3rd quarter. Primecap Management Co. CA now owns 14,723,079 shares of the company’s stock valued at $113,073,000 after acquiring an additional 674,015 shares during the period. Hennessy Advisors Inc. acquired a new stake in shares of Newell Brands during the 4th quarter valued at about $72,431,000. Finally, Victory Capital Management Inc. increased its stake in shares of Newell Brands by 43.7% in the 4th quarter. Victory Capital Management Inc. now owns 6,790,865 shares of the company’s stock valued at $67,637,000 after purchasing an additional 2,066,599 shares in the last quarter. 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.