Newell Brands (NASDAQ:NWL – Get Free Report) had its target price raised by analysts at Deutsche Bank Aktiengesellschaft from $9.00 to $11.00 in a note issued to investors on Monday, FlyOnTheWall reports. Deutsche Bank Aktiengesellschaft’s price objective indicates a potential downside of 0.36% from the company’s current price.
A number of other analysts have also recently commented on NWL. Canaccord Genuity Group started coverage on Newell Brands in a research report on Tuesday, July 11th. They set a “buy” rating and a $13.00 price objective for the company. Citigroup cut their price objective on shares of Newell Brands from $13.00 to $9.00 in a research report on Tuesday, June 13th. Barclays lowered their target price on shares of Newell Brands from $10.00 to $9.00 and set an “underweight” rating for the company in a research note on Thursday, July 20th. Finally, Raymond James reduced their price target on Newell Brands from $15.00 to $13.00 and set a “strong-buy” rating on the stock in a research note on Monday, July 24th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $15.67.
Newell Brands Price Performance
Shares of NASDAQ NWL opened at $11.04 on Monday. The company has a market cap of $4.57 billion, a PE ratio of -14.92 and a beta of 0.94. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.25 and a quick ratio of 0.62. Newell Brands has a 1-year low of $7.80 and a 1-year high of $21.55. The stock has a fifty day moving average price of $9.01 and a 200 day moving average price of $10.91.
Insiders Place Their Bets
In other news, CFO Mark J. Erceg purchased 9,515 shares of the company’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were purchased at an average price of $9.99 per share, with a total value of $95,054.85. Following the purchase, the chief financial officer now directly owns 153,140 shares of the company’s stock, valued at approximately $1,529,868.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is owned by company insiders.
Institutional Investors Weigh In On Newell Brands
A number of institutional investors have recently modified their holdings of the stock. Scotia Capital Inc. increased its stake in Newell Brands by 17.0% during the fourth quarter. Scotia Capital Inc. now owns 79,092 shares of the company’s stock valued at $1,035,000 after purchasing an additional 11,508 shares during the last quarter. Banque Pictet & Cie SA raised its stake in Newell Brands by 127.2% during the first quarter. Banque Pictet & Cie SA now owns 129,580 shares of the company’s stock worth $1,612,000 after acquiring an additional 72,536 shares during the period. Tredje AP fonden lifted its holdings in Newell Brands by 65.2% in the fourth quarter. Tredje AP fonden now owns 130,596 shares of the company’s stock worth $1,708,000 after acquiring an additional 51,532 shares during the last quarter. Nordea Investment Management AB boosted its stake in Newell Brands by 50.1% in the fourth quarter. Nordea Investment Management AB now owns 45,224 shares of the company’s stock valued at $590,000 after acquiring an additional 15,099 shares during the period. Finally, Clarius Group LLC bought a new position in shares of Newell Brands during the fourth quarter valued at approximately $140,000. Institutional investors and hedge funds own 94.88% of the company’s stock.
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 five segments: Commercial Solutions, Home Appliances, Home Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment provides commercial cleaning and maintenance solutions; closet and garage organization products; hygiene systems and material handling solutions; and connected home and security products under the Mapa, Quickie, Rubbermaid, Rubbermaid Commercial Products, and Spontex brands.
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