Newell Brands (NASDAQ:NWL) Price Target Raised to $13.00

Newell Brands (NASDAQ:NWL) had its target price increased by analysts at Canaccord Genuity Group from $12.00 to $13.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective suggests a potential upside of 48.40% from the stock’s previous close.

A number of other brokerages have also recently commented on NWL. Citigroup cut shares of Newell Brands from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft raised their target price on Newell Brands from $8.00 to $9.00 and gave the company a “hold” rating in a report on Monday, July 29th. Truist Financial lifted their price target on shares of Newell Brands from $8.00 to $10.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. JPMorgan Chase & Co. cut their price target on Newell Brands from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, October 11th. Finally, Royal Bank of Canada increased their price target on shares of Newell Brands from $7.50 to $9.50 and gave the company a “sector perform” rating in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $8.90.

Newell Brands Stock Up 0.3 %

Shares of NASDAQ NWL opened at $8.76 on Monday. The business has a 50-day moving average price of $7.44 and a 200 day moving average price of $7.32. The stock has a market cap of $3.64 billion, a PE ratio of -12.19, a price-to-earnings-growth ratio of 1.31 and a beta of 0.91. The company has a quick ratio of 0.51, a current ratio of 0.98 and a debt-to-equity ratio of 1.32. Newell Brands has a 52-week low of $5.39 and a 52-week high of $9.24.

Newell Brands (NASDAQ:NWL) last posted its quarterly earnings data on Friday, October 25th. The company reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.96 billion. Newell Brands had a positive return on equity of 13.04% and a negative net margin of 3.43%. The company’s revenue was down 2.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.39 earnings per share. Equities research analysts forecast that Newell Brands will post 0.65 earnings per share for the current year.

Institutional Investors Weigh In On Newell Brands

Institutional investors have recently added to or reduced their stakes in the company. Centaurus Financial Inc. lifted its stake in shares of Newell Brands by 5.9% in the 2nd quarter. Centaurus Financial Inc. now owns 31,599 shares of the company’s stock valued at $203,000 after purchasing an additional 1,762 shares in the last quarter. Arizona State Retirement System lifted its position in Newell Brands by 2.1% during the second quarter. Arizona State Retirement System now owns 116,226 shares of the company’s stock valued at $745,000 after buying an additional 2,394 shares in the last quarter. Tidal Investments LLC grew its stake in Newell Brands by 3.0% during the first quarter. Tidal Investments LLC now owns 83,559 shares of the company’s stock worth $671,000 after buying an additional 2,407 shares during the period. Raymond James Trust N.A. raised its stake in shares of Newell Brands by 9.9% in the 2nd quarter. Raymond James Trust N.A. now owns 27,541 shares of the company’s stock valued at $177,000 after acquiring an additional 2,490 shares during the period. Finally, Xcel Wealth Management LLC lifted its holdings in shares of Newell Brands by 8.3% during the 2nd quarter. Xcel Wealth Management LLC now owns 32,773 shares of the company’s stock valued at $210,000 after acquiring an additional 2,500 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.