Newell Brands (NASDAQ:NWL) Given New $5.50 Price Target at Citigroup

Key Points

• Citigroup lowered Newell Brands’ price target from $6.00 to $5.50 while maintaining a “neutral” rating, implying roughly 7% downside from the stock’s $5.92 trading price.
• Analyst sentiment remains mixed, with the stock carrying a consensus “Hold” rating and an average price target of $6.59. Recent targets range from $5.00 to $7.00.
• Newell Brands met quarterly expectations with $0.20 earnings per share and reported $1.87 billion in revenue, up 3.7% year over year; institutional investors own approximately 92.5% of the shares.

Newell Brands (NASDAQ:NWL - Get Free Report) had its price target decreased by research analysts at Citigroup from $6.00 to $5.50 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Citigroup's target price would indicate a potential downside of 7.16% from the company's current price.

A number of other research firms have also recently commented on NWL. JPMorgan Chase & Co. lifted their price target on Newell Brands from $5.00 to $7.00 and gave the stock an "overweight" rating in a report on Thursday, July 16th. Morgan Stanley restated an "underweight" rating and set a $5.75 price objective on shares of Newell Brands in a research report on Thursday, August 6th. Wall Street Zen upgraded Newell Brands from a "buy" rating to a "strong-buy" rating in a report on Saturday, October 17th. Weiss Ratings cut shares of Newell Brands from a "sell (d)" rating to a "sell (d-)" rating in a research note on Thursday, October 8th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $6.00 price target on shares of Newell Brands in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Newell Brands currently has an average rating of "Hold" and a consensus price target of $6.59.

Newell Brands Price Performance

Shares of NWL traded up $0.74 during trading hours on Monday, hitting $5.92. The stock had a trading volume of 8,697,738 shares, compared to its average volume of 7,601,656. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of -7.71, a P/E/G ratio of 1.29 and a beta of 0.88. The company's fifty day moving average is $5.68 and its two-hundred day moving average is $4.83. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.27 and a quick ratio of 0.67. Newell Brands has a 52 week low of $3.07 and a 52 week high of $7.13.

Newell Brands (NASDAQ:NWL - Get Free Report) last posted its quarterly earnings data on Friday, October 30th. The company reported $0.20 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.20. Newell Brands had a positive return on equity of 13.41% and a negative net margin of 4.42%. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the prior year, the business earned $0.17 EPS. The business's revenue for the quarter was up 3.7% compared to the same quarter last year. On average, analysts anticipate that Newell Brands will post 0.76 EPS for the current year.

Insider Activity at Newell Brands

In related news, insider Bradford Turner sold 100,000 shares of Newell Brands stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $6.16, for a total transaction of $616,000.00. Following the sale, the insider directly owned 433,398 shares in the company, valued at approximately $2,669,731.68. This trade represents a 18.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.64% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Newell Brands

Several large investors have recently modified their holdings of the business. Citizens Financial Group Inc. RI grew its position in shares of Newell Brands by 8.7% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 23,445 shares of the company's stock valued at $124,000 after purchasing an additional 1,872 shares in the last quarter. GAMMA Investing LLC lifted its stake in Newell Brands by 19.8% during the second quarter. GAMMA Investing LLC now owns 11,408 shares of the company's stock worth $70,000 after purchasing an additional 1,887 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Newell Brands by 1.8% in the 2nd quarter. Arizona State Retirement System now owns 117,250 shares of the company's stock worth $720,000 after purchasing an additional 2,106 shares in the last quarter. Parallel Advisors LLC boosted its holdings in shares of Newell Brands by 13.3% in the 1st quarter. Parallel Advisors LLC now owns 23,881 shares of the company's stock worth $82,000 after purchasing an additional 2,795 shares in the last quarter. Finally, Jackson Thornton Wealth Management LLC increased its position in shares of Newell Brands by 24.8% during the 1st quarter. Jackson Thornton Wealth Management LLC now owns 14,868 shares of the company's stock valued at $51,000 after purchasing an additional 2,956 shares during the last quarter. Hedge funds and other institutional investors own 92.50% of the company's stock.

About Newell Brands

Newell Brands Inc is a global consumer products company that designs, manufactures and markets products used in homes, workplaces and outdoor settings. Its portfolio includes well-known brands such as Rubbermaid, Sharpie, Graco, Coleman, Yankee Candle, Crock-Pot, Mr. Coffee, FoodSaver, Calphalon, Elmer's and Sistema.

The company's products span food and home storage, cookware and small kitchen appliances, writing instruments and other learning supplies, baby and parenting products, outdoor and recreation equipment, home fragrance, and commercial products.

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