Wells Fargo & Company Lowers Newell Brands (NASDAQ:NWL) Price Target to $9.00

Newell Brands (NASDAQ:NWL) had its price target cut by investment analysts at Wells Fargo & Company from $11.00 to $9.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 25.12% from the stock’s current price.

NWL has been the subject of several other reports. Truist Financial upgraded Newell Brands from a “hold” rating to a “buy” rating and boosted their price target for the stock from $10.00 to $17.00 in a research report on Monday, December 9th. UBS Group increased their target price on shares of Newell Brands from $9.50 to $10.50 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Barclays boosted their price target on shares of Newell Brands from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Canaccord Genuity Group cut their price objective on shares of Newell Brands from $15.00 to $14.00 and set a “buy” rating for the company in a report on Monday. Finally, JPMorgan Chase & Co. upped their price target on Newell Brands from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Newell Brands presently has an average rating of “Hold” and a consensus target price of $10.55.

Newell Brands Trading Up 0.9 %

Shares of NWL stock opened at $7.19 on Monday. Newell Brands has a 1-year low of $5.39 and a 1-year high of $11.78. The company has a market cap of $2.99 billion, a price-to-earnings ratio of -11.99, 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 has a 50 day simple moving average of $10.15 and a 200-day simple moving average of $8.72.

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

Insider Buying and Selling 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 transaction of $240,666.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.58% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Swiss National Bank raised its stake in Newell Brands by 1.0% in the fourth quarter. Swiss National Bank now owns 818,142 shares of the company’s stock valued at $8,149,000 after buying an additional 7,800 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Newell Brands by 6.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 517,578 shares of the company’s stock valued at $5,155,000 after purchasing an additional 29,776 shares during the last quarter. Sequoia Financial Advisors LLC raised its holdings in Newell Brands by 10.9% during the fourth quarter. Sequoia Financial Advisors LLC now owns 18,149 shares of the company’s stock worth $181,000 after purchasing an additional 1,780 shares in the last quarter. HighTower Advisors LLC lifted its position in shares of Newell Brands by 31.1% during the 4th quarter. HighTower Advisors LLC now owns 56,998 shares of the company’s stock worth $568,000 after buying an additional 13,510 shares during the last quarter. Finally, Wealthfront Advisers LLC purchased a new position in shares of Newell Brands in the 4th quarter valued at $4,187,000. Institutional investors and hedge funds own 92.50% of the company’s stock.

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.