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

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

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

Newell Brands Stock Performance

Shares of NWL stock opened at $7.09 on Monday. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.99 and a quick ratio of 0.50. The business has a fifty day moving average of $10.05 and a 200 day moving average of $8.71. The firm 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 1 year low of $5.39 and a 1 year high of $11.78.

Newell Brands (NASDAQ:NWL) last announced its quarterly earnings data on Friday, February 7th. The company reported $0.16 earnings per share (EPS) for the quarter, topping 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 period in the previous year, the business earned $0.22 earnings per share. As a group, research analysts expect that Newell Brands will post 0.65 earnings per share for the current year.

Insider Buying and Selling

In other Newell Brands news, insider Tracy L. Platt sold 23,343 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $10.31, for a total value of $240,666.33. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.61% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Savoir Faire Capital Management L.P. lifted its stake in Newell Brands by 14.1% in the 4th quarter. Savoir Faire Capital Management L.P. now owns 288,210 shares of the company’s stock valued at $2,871,000 after buying an additional 35,714 shares in the last quarter. Atlas Capital Advisors Inc. acquired a new position in shares of Newell Brands during the fourth quarter valued at approximately $483,000. Trexquant Investment LP lifted its position in shares of Newell Brands by 84.9% in the fourth quarter. Trexquant Investment LP now owns 1,463,392 shares of the company’s stock valued at $14,575,000 after acquiring an additional 671,884 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Newell Brands by 4.6% in the fourth quarter. Geode Capital Management LLC now owns 6,938,654 shares of the company’s stock worth $69,132,000 after acquiring an additional 303,371 shares during the last quarter. Finally, National Bank of Canada FI increased its position in shares of Newell Brands by 8,655.2% during the fourth quarter. National Bank of Canada FI now owns 204,871 shares of the company’s stock worth $2,041,000 after purchasing an additional 202,531 shares in the last quarter. Hedge funds and other institutional investors own 92.50% of the company’s stock.

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.