Newell Brands (NASDAQ:NWL) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Newell Brands (NASDAQ:NWL) had its target price upped by equities researchers at Wells Fargo & Company from $9.00 to $11.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 11.79% from the stock’s previous close.

Several other analysts also recently commented on NWL. Truist Financial upgraded 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 note on Monday, December 9th. Canaccord Genuity Group upped their target price on Newell Brands from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Barclays upgraded shares of Newell Brands from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $8.00 to $10.00 in a research note on Wednesday, November 20th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Newell Brands from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, October 11th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $10.20.

Newell Brands Trading Down 2.1 %

NASDAQ NWL opened at $9.84 on Tuesday. The stock has a market capitalization of $4.09 billion, a P/E ratio of -16.40, a P/E/G ratio of 1.02 and a beta of 0.89. The business has a 50 day simple moving average of $9.78 and a 200 day simple moving average of $8.14. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.99 and a quick ratio of 0.50. Newell Brands has a one year low of $5.39 and a one year high of $11.78.

Newell Brands (NASDAQ:NWL) last announced its quarterly earnings data on Friday, October 25th. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. Newell Brands had a negative net margin of 3.22% and a positive return on equity of 10.22%. The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter last year, the firm posted $0.39 EPS. The company’s quarterly revenue was down 2.6% on a year-over-year basis. Research analysts expect that Newell Brands will post 0.65 earnings per share for the current year.

Insider Transactions at Newell Brands

In other Newell Brands news, insider Tracy L. Platt sold 23,343 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $10.31, for a total transaction of $240,666.33. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Bradford R. Turner sold 20,000 shares of Newell Brands stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $8.96, for a total value of $179,200.00. Following the completion of the transaction, the insider now owns 230,254 shares of the company’s stock, valued at approximately $2,063,075.84. This trade represents a 7.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in NWL. Quarry LP grew its stake in Newell Brands by 104.4% during the second quarter. Quarry LP now owns 7,941 shares of the company’s stock valued at $51,000 after acquiring an additional 4,056 shares in the last quarter. Venturi Wealth Management LLC purchased a new stake in shares of Newell Brands in the third quarter worth $70,000. Atomi Financial Group Inc. bought a new stake in Newell Brands during the third quarter valued at $79,000. Claro Advisors LLC bought a new position in Newell Brands in the 3rd quarter worth about $79,000. Finally, Versant Capital Management Inc raised its holdings in shares of Newell Brands by 24.8% in the 4th quarter. Versant Capital Management Inc now owns 8,376 shares of the company’s stock valued at $83,000 after acquiring an additional 1,666 shares in 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.