Newell Brands (NASDAQ:NWL) Shares Up 5.2% – Here’s Why

Newell Brands Inc. (NASDAQ:NWL)’s share price traded up 5.2% on Tuesday . The company traded as high as $7.36 and last traded at $7.38. 7,338,075 shares traded hands during mid-day trading, an increase of 2% from the average session volume of 7,227,337 shares. The stock had previously closed at $7.01.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Truist Financial upgraded shares of Newell Brands from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $10.00 to $17.00 in a report on Monday, December 9th. Canaccord Genuity Group cut their price target on Newell Brands from $15.00 to $14.00 and set a “buy” rating for the company in a report on Monday. Citigroup decreased their price objective on Newell Brands from $10.50 to $7.75 and set a “neutral” rating on the stock in a report on Monday. Barclays upped their target price on Newell Brands from $10.00 to $11.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Finally, UBS Group lifted their price target on shares of Newell Brands from $9.50 to $10.50 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $10.50.

Newell Brands Price Performance

The stock has a market capitalization of $3.06 billion, a P/E ratio of -12.26, a PEG ratio of 1.09 and a beta of 0.89. The company’s 50 day simple moving average is $10.10 and its two-hundred day simple moving average is $8.72. 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 (NASDAQ:NWL) last released its quarterly earnings results on Friday, February 7th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the business posted $0.22 earnings per share. As a group, equities analysts expect that Newell Brands Inc. will post 0.65 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Tracy L. Platt sold 23,343 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were 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 at the SEC website. 0.58% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Newell Brands

Large investors have recently bought and sold shares of the business. Principal Financial Group Inc. boosted its stake in Newell Brands by 4.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,959,641 shares of the company’s stock worth $15,050,000 after acquiring an additional 82,337 shares during the last quarter. Citigroup Inc. boosted its position in shares of Newell Brands by 7.7% during the third quarter. Citigroup Inc. now owns 1,233,918 shares of the company’s stock worth $9,476,000 after purchasing an additional 88,164 shares in the last quarter. Versor Investments LP grew its holdings in shares of Newell Brands by 135.6% in the 3rd quarter. Versor Investments LP now owns 98,700 shares of the company’s stock valued at $758,000 after buying an additional 56,800 shares during the period. Friedenthal Financial bought a new stake in shares of Newell Brands in the 4th quarter valued at $762,000. Finally, Wedmont Private Capital acquired a new stake in Newell Brands during the 4th quarter worth $565,000. 92.50% of the stock is currently owned by institutional investors and hedge funds.

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.