Newell Brands (NASDAQ:NWL) Price Target Cut to $8.00 by Analysts at JPMorgan Chase & Co.

Newell Brands (NASDAQ:NWL) had its price objective reduced by JPMorgan Chase & Co. from $9.00 to $8.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 5.26% from the company’s current price.

Other research analysts have also issued research reports about the company. Citigroup lowered Newell Brands from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 13th. Truist Financial boosted their price target on Newell Brands from $8.00 to $10.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft lifted their target price on Newell Brands from $8.00 to $9.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Royal Bank of Canada lifted their target price on Newell Brands from $7.50 to $9.50 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. Finally, Canaccord Genuity Group lifted their target price on Newell Brands from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Newell Brands has a consensus rating of “Hold” and an average target price of $8.91.

Newell Brands Stock Up 1.2 %

Shares of Newell Brands stock opened at $7.60 on Friday. The firm has a market cap of $3.16 billion, a PE ratio of -11.69, a P/E/G ratio of 1.29 and a beta of 0.91. Newell Brands has a 52-week low of $5.39 and a 52-week high of $9.24. The business’s 50 day simple moving average is $7.36 and its 200 day simple moving average is $7.31. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.51 and a current ratio of 0.98.

Newell Brands (NASDAQ:NWL) last posted its quarterly earnings results on Friday, July 26th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.15. The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.05 billion. Newell Brands had a positive return on equity of 13.04% and a negative net margin of 3.43%. The business’s quarterly revenue was down 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.24 EPS. On average, analysts predict that Newell Brands will post 0.65 earnings per share for the current fiscal year.

Institutional Trading of Newell Brands

Institutional investors have recently added to or reduced their stakes in the company. Creative Planning raised its holdings in Newell Brands by 32.7% in the 3rd quarter. Creative Planning now owns 33,963 shares of the company’s stock valued at $261,000 after acquiring an additional 8,365 shares in the last quarter. CWM LLC raised its holdings in Newell Brands by 170.7% in the 3rd quarter. CWM LLC now owns 61,766 shares of the company’s stock valued at $474,000 after acquiring an additional 38,946 shares in the last quarter. Atomi Financial Group Inc. acquired a new position in Newell Brands in the 3rd quarter valued at $79,000. GAMMA Investing LLC raised its holdings in Newell Brands by 26.5% in the 3rd quarter. GAMMA Investing LLC now owns 15,002 shares of the company’s stock valued at $115,000 after acquiring an additional 3,142 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its holdings in Newell Brands by 35.6% in the 3rd quarter. Handelsbanken Fonder AB now owns 101,300 shares of the company’s stock valued at $778,000 after acquiring an additional 26,600 shares in the last quarter. 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.