JPMorgan Chase & Co. Issues Pessimistic Forecast for Newell Brands (NASDAQ:NWL) Stock Price

Newell Brands (NASDAQ:NWL) had its price target reduced by equities researchers at JPMorgan Chase & Co. from $8.00 to $6.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 27.12% from the stock’s current price.

A number of other research firms have also issued reports on NWL. Barclays boosted 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. UBS Group increased their target price on Newell Brands from $9.50 to $10.50 and gave the company a “neutral” rating in a report on Thursday, January 16th. Canaccord Genuity Group lowered their price target on Newell Brands from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Wells Fargo & Company reduced their price objective on Newell Brands from $9.00 to $7.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 2nd. Finally, Citigroup lowered their target price on Newell Brands from $10.50 to $7.75 and set a “neutral” rating on the stock in a research note on Monday, February 10th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $10.14.

Newell Brands Price Performance

Shares of NASDAQ:NWL opened at $4.72 on Friday. The company has a market capitalization of $1.97 billion, a PE ratio of -9.08, a price-to-earnings-growth ratio of 0.95 and a beta of 0.84. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.56 and a current ratio of 1.14. The stock has a fifty day moving average of $6.45 and a 200-day moving average of $8.32. Newell Brands has a one year low of $4.22 and a one year high of $11.78.

Newell Brands (NASDAQ:NWL) last announced 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 positive return on equity of 9.76% and a negative net margin of 2.85%. During the same quarter in the prior year, the business earned $0.22 earnings per share. As a group, equities analysts anticipate that Newell Brands will post 0.72 EPS for the current fiscal year.

Hedge Funds Weigh In On Newell Brands

Several hedge funds have recently bought and sold shares of NWL. Castlekeep Investment Advisors LLC acquired a new position in Newell Brands during the fourth quarter valued at approximately $33,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Newell Brands during the 4th quarter worth $46,000. NBC Securities Inc. grew its stake in Newell Brands by 146,542.9% in the 1st quarter. NBC Securities Inc. now owns 10,265 shares of the company’s stock valued at $63,000 after buying an additional 10,258 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in Newell Brands by 140.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 7,912 shares of the company’s stock worth $79,000 after acquiring an additional 4,617 shares during the period. Finally, Versant Capital Management Inc lifted its position in Newell Brands by 24.8% during the 4th quarter. Versant Capital Management Inc now owns 8,376 shares of the company’s stock worth $83,000 after acquiring an additional 1,666 shares during the last quarter. 92.50% of the stock is 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.