Newell Brands (NASDAQ:NWL) Given New $9.00 Price Target at Royal Bank of Canada

Newell Brands (NASDAQ:NWL) had its price objective decreased by investment analysts at Royal Bank of Canada from $9.50 to $9.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 30.15% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on NWL. Citigroup dropped their price objective on Newell Brands from $10.50 to $7.75 and set a “neutral” rating for the company in a research note on Monday. JPMorgan Chase & Co. boosted their target price on Newell Brands from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Barclays boosted their target price on Newell Brands from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. UBS Group boosted their target price on Newell Brands from $9.50 to $10.50 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Finally, Canaccord Genuity Group lowered their target price on Newell Brands from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Monday. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Newell Brands has a consensus rating of “Hold” and an average price target of $10.50.

Newell Brands Trading Down 3.0 %

Newell Brands stock traded down $0.22 during trading on Monday, reaching $6.92. 7,513,965 shares of the company were exchanged, compared to its average volume of 6,812,382. Newell Brands has a 52-week low of $5.39 and a 52-week high of $11.78. The company has a market capitalization of $2.88 billion, a P/E ratio of -11.52, a PEG ratio of 1.09 and a beta of 0.89. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.99 and a quick ratio of 0.50. The stock’s 50 day simple moving average is $10.15 and its two-hundred day simple moving average is $8.72.

Newell Brands (NASDAQ:NWL) last posted its earnings results on Friday, February 7th. The company reported $0.16 EPS 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 period in the prior year, the company earned $0.22 EPS. On average, equities research analysts expect that Newell Brands will post 0.65 earnings per share for the current fiscal year.

Insider Transactions at Newell Brands

In other news, insider Tracy L. Platt sold 23,343 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $10.31, for a total value of $240,666.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.58% of the company’s stock.

Institutional Trading of Newell Brands

Several institutional investors and hedge funds have recently made changes to their positions in NWL. Hennessy Advisors Inc. purchased a new position in shares of Newell Brands during the 4th quarter worth approximately $72,431,000. Victory Capital Management Inc. raised its stake in shares of Newell Brands by 5,324.8% during the 3rd 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 in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Newell Brands by 18.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 16,618,316 shares of the company’s stock worth $127,629,000 after buying an additional 2,634,114 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Newell Brands by 36.8% during the 4th quarter. Bank of New York Mellon Corp now owns 4,026,323 shares of the company’s stock worth $40,102,000 after buying an additional 1,083,921 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Newell Brands during the 4th quarter worth approximately $9,877,000. 92.50% of the stock is owned by hedge funds and other 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.