Citigroup Has Lowered Expectations for Newell Brands (NASDAQ:NWL) Stock Price

Newell Brands (NASDAQ:NWL) had its price objective reduced by Citigroup from $10.50 to $7.75 in a report published on Monday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other research analysts have also commented on NWL. Canaccord Genuity Group lowered their price target on Newell Brands from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Monday. Truist Financial upgraded Newell Brands from a “hold” rating to a “buy” rating and upped their target price for the company from $10.00 to $17.00 in a report on Monday, December 9th. Barclays lifted their price target on shares of Newell Brands from $10.00 to $11.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Wells Fargo & Company decreased their price objective on shares of Newell Brands from $11.00 to $9.00 and set an “equal weight” rating for the company in a report on Monday. Finally, JPMorgan Chase & Co. boosted their price target on shares of Newell Brands from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $10.81.

Newell Brands Stock Down 3.3 %

Shares of Newell Brands stock opened at $7.09 on Monday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.50 and a current ratio of 0.99. Newell Brands has a 52-week low of $5.39 and a 52-week high of $11.78. The company’s 50 day moving average price is $10.05 and its 200-day moving average price is $8.71. The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of -11.82, a P/E/G ratio of 1.09 and a beta of 0.89.

Newell Brands (NASDAQ:NWL) last announced its quarterly earnings results on Friday, February 7th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 last year, the firm posted $0.22 EPS. Equities research analysts forecast that Newell Brands will post 0.65 EPS for the current year.

Insider Activity at Newell Brands

In other Newell Brands news, insider Tracy L. Platt sold 23,343 shares of Newell Brands 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.61% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Newell Brands

Institutional investors and hedge funds have recently modified their holdings of the stock. Hennessy Advisors Inc. bought a new position in Newell Brands in the 4th quarter worth about $72,431,000. Victory Capital Management Inc. raised its holdings in Newell Brands by 5,324.8% in the third quarter. Victory Capital Management Inc. now owns 4,724,266 shares of the company’s stock worth $36,282,000 after buying an additional 4,637,180 shares during the last quarter. Norges Bank bought a new position in shares of Newell Brands in the fourth quarter worth approximately $37,174,000. Massachusetts Financial Services Co. MA grew its holdings in shares of Newell Brands by 18.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 16,618,316 shares of the company’s stock valued at $127,629,000 after buying an additional 2,634,114 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Newell Brands by 214.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,349,136 shares of the company’s stock valued at $33,357,000 after acquiring an additional 2,282,949 shares in the last quarter. 92.50% of the stock is currently owned by institutional investors.

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.