Newell Brands (NASDAQ:NWL) PT Raised to $13.00

Newell Brands (NASDAQ:NWL) had its price objective boosted by Canaccord Genuity Group from $12.00 to $13.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price points to a potential upside of 44.61% from the stock’s previous close.

Several other equities analysts have also weighed in on the stock. Wells Fargo & Company increased their price target on shares of Newell Brands from $6.00 to $9.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Royal Bank of Canada lifted their price target on shares of Newell Brands from $7.50 to $9.50 and gave the stock a “sector perform” rating in a report on Monday, July 29th. Citigroup lowered Newell Brands from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft boosted their target price on Newell Brands from $8.00 to $9.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Finally, 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. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $8.90.

Newell Brands Price Performance

Newell Brands stock opened at $8.99 on Monday. Newell Brands has a 52 week low of $5.39 and a 52 week high of $9.68. The company’s 50 day moving average price is $7.51 and its two-hundred day moving average price is $7.34. The stock has a market cap of $3.74 billion, a P/E ratio of -14.98, a P/E/G ratio of 1.52 and a beta of 0.91. The company has a quick ratio of 0.50, a current ratio of 0.99 and a debt-to-equity ratio of 1.43.

Newell Brands (NASDAQ:NWL) last issued its quarterly earnings results on Friday, October 25th. The company reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.96 billion. Newell Brands had a positive return on equity of 10.22% and a negative net margin of 3.22%. Newell Brands’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period last year, the company posted $0.39 earnings per share. On average, equities analysts predict that Newell Brands will post 0.65 earnings per share for the current year.

Hedge Funds Weigh In On Newell Brands

Several hedge funds have recently bought and sold shares of the company. First Trust Direct Indexing L.P. boosted its holdings in Newell Brands by 24.3% in the 1st quarter. First Trust Direct Indexing L.P. now owns 12,818 shares of the company’s stock valued at $103,000 after purchasing an additional 2,508 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Newell Brands in the first quarter worth $301,000. Janney Montgomery Scott LLC raised its position in shares of Newell Brands by 15.3% in the first quarter. Janney Montgomery Scott LLC now owns 77,221 shares of the company’s stock worth $620,000 after buying an additional 10,240 shares in the last quarter. GSA Capital Partners LLP grew its position in Newell Brands by 150.6% during the first quarter. GSA Capital Partners LLP now owns 102,215 shares of the company’s stock worth $821,000 after buying an additional 61,433 shares in the last quarter. Finally, Texas Permanent School Fund Corp increased its stake in Newell Brands by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 332,914 shares of the company’s stock worth $2,673,000 after acquiring an additional 4,291 shares during the last quarter. Hedge funds and other institutional investors 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.