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

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

Other equities analysts have also issued research reports about the company. Barclays lifted their price target on Newell Brands from $10.00 to $11.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. JPMorgan Chase & Co. lifted their target price on Newell Brands from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Canaccord Genuity Group reduced their price target on shares of Newell Brands from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Monday. UBS Group upped their price objective on shares of Newell Brands from $9.50 to $10.50 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Finally, Truist Financial upgraded shares of Newell Brands from a “hold” rating to a “buy” rating and raised their target price for the company from $10.00 to $17.00 in a research report on Monday, December 9th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $10.50.

Newell Brands Stock Down 1.7 %

NWL stock opened at $7.01 on Monday. Newell Brands has a 52 week low of $5.39 and a 52 week high of $11.78. The business has a 50-day simple moving average of $10.15 and a 200 day simple moving average of $8.72. The company has a quick ratio of 0.50, a current ratio of 0.99 and a debt-to-equity ratio of 1.43. The company has a market cap of $2.92 billion, a PE ratio of -11.68, a price-to-earnings-growth ratio of 1.09 and a beta of 0.89.

Newell Brands (NASDAQ:NWL) last issued its earnings results on Friday, February 7th. The company reported $0.16 EPS for the quarter, beating the consensus estimate 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 period in the previous year, the firm posted $0.22 earnings per share. Sell-side analysts anticipate that Newell Brands will post 0.65 EPS for the current fiscal year.

Insider Buying and Selling at Newell Brands

In other Newell Brands news, insider Tracy L. Platt sold 23,343 shares of Newell Brands stock in a transaction dated 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 filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On Newell Brands

A number of hedge funds have recently made changes to their positions in the stock. Venturi Wealth Management LLC bought a new stake in Newell Brands during the third quarter valued at $70,000. Atomi Financial Group Inc. acquired a new position in shares of Newell Brands in the 3rd quarter valued at about $79,000. Claro Advisors LLC bought a new stake in shares of Newell Brands during the 3rd quarter valued at about $79,000. Smartleaf Asset Management LLC grew its stake in Newell Brands by 140.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 7,912 shares of the company’s stock worth $79,000 after purchasing an additional 4,617 shares during the period. Finally, Versant Capital Management Inc increased its holdings in Newell Brands by 24.8% in the fourth quarter. Versant Capital Management Inc now owns 8,376 shares of the company’s stock worth $83,000 after purchasing an additional 1,666 shares in the last quarter. 92.50% of the stock is currently owned by institutional investors.

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.