Newell Brands (NASDAQ:NWL) Shares Down 4.6% Following Analyst Downgrade

Newell Brands Inc. (NASDAQ:NWL)’s share price dropped 4.6% during trading on Monday after Citigroup lowered their price target on the stock from $10.50 to $7.75. Citigroup currently has a neutral rating on the stock. Newell Brands traded as low as $6.81 and last traded at $6.81. Approximately 2,867,737 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 6,598,353 shares. The stock had previously closed at $7.13.

Other equities research analysts have also issued reports about the company. Wells Fargo & Company lowered their price objective on Newell Brands from $11.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Monday. Barclays upped their price objective on Newell Brands from $10.00 to $11.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. UBS Group increased their price target on Newell Brands from $9.50 to $10.50 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Canaccord Genuity Group lowered their price objective on shares of Newell Brands from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Monday. Finally, Truist Financial raised Newell Brands from a “hold” rating to a “buy” rating and lifted their price target for the company from $10.00 to $17.00 in a research note on Monday, December 9th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Newell Brands has a consensus rating of “Hold” and a consensus price target of $10.55.

Insider Buying and Selling

In other news, insider Tracy L. Platt sold 23,343 shares of the business’s stock in a transaction that occurred 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 available at this link. 0.58% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Newell Brands

A number of institutional investors have recently made changes to their positions in NWL. Principal Financial Group Inc. raised its position in shares of Newell Brands by 4.4% in the third quarter. Principal Financial Group Inc. now owns 1,959,641 shares of the company’s stock valued at $15,050,000 after buying an additional 82,337 shares in the last quarter. Citigroup Inc. raised its position in shares of Newell Brands by 7.7% in the third quarter. Citigroup Inc. now owns 1,233,918 shares of the company’s stock valued at $9,476,000 after buying an additional 88,164 shares in the last quarter. Versor Investments LP raised its position in shares of Newell Brands by 135.6% in the third 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 in the last quarter. Friedenthal Financial acquired a new stake in shares of Newell Brands in the fourth quarter valued at approximately $762,000. Finally, Wedmont Private Capital acquired a new stake in shares of Newell Brands in the fourth quarter valued at approximately $565,000. Institutional investors own 92.50% of the company’s stock.

Newell Brands Trading Down 5.3 %

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 business’s 50-day moving average price is $10.15 and its two-hundred day moving average price is $8.72. The company has a market capitalization of $2.81 billion, a price-to-earnings ratio of -11.29, a P/E/G ratio of 1.09 and a beta of 0.89.

Newell Brands (NASDAQ:NWL) last announced its quarterly earnings data 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 negative net margin of 3.22% and a positive return on equity of 10.22%. During the same quarter in the prior year, the company earned $0.22 earnings per share. Research analysts predict that Newell Brands Inc. will post 0.65 earnings per share for the current year.

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.