Newell Brands (NASDAQ:NWL – Get Free Report) had its price objective decreased by investment analysts at Morgan Stanley from $11.00 to $8.50 in a research report issued on Tuesday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 28.40% from the stock’s current price.
A number of other brokerages also recently commented on NWL. Raymond James downgraded shares of Newell Brands from a “strong-buy” rating to an “outperform” rating and lowered their price target for the company from $13.00 to $10.00 in a report on Monday, October 23rd. JPMorgan Chase & Co. cut Newell Brands from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $11.00 to $7.00 in a report on Monday. Citigroup decreased their price target on Newell Brands from $11.00 to $8.00 and set a “neutral” rating on the stock in a report on Wednesday, October 11th. Royal Bank of Canada dropped their price objective on shares of Newell Brands from $12.00 to $9.00 and set a “sector perform” rating for the company in a research note on Monday. Finally, Truist Financial downgraded shares of Newell Brands from a “buy” rating to a “hold” rating and reduced their target price for the company from $20.00 to $8.00 in a research note on Monday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, Newell Brands has an average rating of “Hold” and an average price target of $9.85.
Read Our Latest Analysis on NWL
Newell Brands Stock Performance
Newell Brands (NASDAQ:NWL – Get Free Report) last announced its quarterly earnings results on Friday, October 27th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.16. Newell Brands had a negative net margin of 6.61% and a positive return on equity of 9.12%. The company had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2.12 billion. During the same quarter in the previous year, the business posted $0.53 earnings per share. Newell Brands’s quarterly revenue was down 11.2% on a year-over-year basis. As a group, equities analysts anticipate that Newell Brands will post 0.75 earnings per share for the current fiscal year.
Insider Activity at Newell Brands
In other news, insider Bradford R. Turner sold 20,000 shares of Newell Brands stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $6.88, for a total transaction of $137,600.00. Following the completion of the sale, the insider now owns 152,363 shares of the company’s stock, valued at $1,048,257.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Newell Brands
Several institutional investors have recently made changes to their positions in NWL. Banque Pictet & Cie SA increased its holdings in Newell Brands by 127.2% during the first quarter. Banque Pictet & Cie SA now owns 129,580 shares of the company’s stock valued at $1,612,000 after buying an additional 72,536 shares during the period. Stonebridge Capital Advisors LLC increased its holdings in shares of Newell Brands by 1.4% in the 1st quarter. Stonebridge Capital Advisors LLC now owns 96,095 shares of the company’s stock valued at $1,195,000 after acquiring an additional 1,352 shares during the period. Moors & Cabot Inc. raised its position in shares of Newell Brands by 5.3% in the 1st quarter. Moors & Cabot Inc. now owns 30,456 shares of the company’s stock worth $379,000 after acquiring an additional 1,520 shares in the last quarter. Guggenheim Capital LLC lifted its stake in shares of Newell Brands by 84.4% during the 1st quarter. Guggenheim Capital LLC now owns 368,876 shares of the company’s stock worth $4,589,000 after purchasing an additional 168,834 shares during the last quarter. Finally, CWM LLC boosted its position in Newell Brands by 43.5% during the first quarter. CWM LLC now owns 3,297 shares of the company’s stock valued at $41,000 after purchasing an additional 999 shares in the last quarter. Hedge funds and other institutional investors own 91.53% 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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