Newell Brands (NASDAQ:NWL) Stock Rating Cut to Hold at Zacks Research

Key Points

• Zacks Research downgraded Newell Brands from “strong buy” to “hold,” while analyst sentiment overall is also “hold,” with three Buy, five Hold and two Sell ratings.
• MarketBeat reports an average analyst price target of $6.62; the stock opened at $5.86 and has traded between $3.08 and $7.13 over the past year.
• In its latest quarter, Newell reported EPS of $0.20, matching estimates, and revenue of $1.87 billion, slightly above expectations and up 3.7% year over year.

Newell Brands (NASDAQ:NWL - Get Free Report) was downgraded by analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report issued on Tuesday, Zacks reports.

Several other research analysts have also recently issued reports on the company. Wall Street Zen upgraded Newell Brands from a "buy" rating to a "strong-buy" rating in a research note on Saturday, October 17th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $6.00 price target on shares of Newell Brands in a report on Monday, August 3rd. JPMorgan Chase & Co. increased their price target on shares of Newell Brands from $5.00 to $7.00 and gave the stock an "overweight" rating in a report on Thursday, July 16th. Weiss Ratings raised shares of Newell Brands from a "sell (d-)" rating to a "sell (d+)" rating in a research report on Monday. Finally, UBS Group lifted their price objective on shares of Newell Brands from $5.50 to $5.75 and gave the company a "neutral" rating in a research note on Monday. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Newell Brands presently has a consensus rating of "Hold" and an average price target of $6.62.

Newell Brands Price Performance

NASDAQ NWL opened at $5.86 on Tuesday. The company has a market cap of $2.50 billion, a price-to-earnings ratio of -7.61, a PEG ratio of 0.79 and a beta of 0.88. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.27 and a quick ratio of 0.67. The stock's fifty day moving average price is $5.66 and its 200 day moving average price is $4.86. Newell Brands has a 1 year low of $3.08 and a 1 year high of $7.13.

Newell Brands (NASDAQ:NWL - Get Free Report) last issued its quarterly earnings results on Friday, October 30th. The company reported $0.20 EPS for the quarter, hitting analysts' consensus estimates of $0.20. The company had revenue of $1.87 billion during the quarter, compared to analysts' expectations of $1.86 billion. Newell Brands had a positive return on equity of 13.41% and a negative net margin of 4.42%. The firm's revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.17 EPS. As a group, equities research analysts forecast that Newell Brands will post 0.76 earnings per share for the current year.

Institutional Investors Weigh In On Newell Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in NWL. AXQ Capital LP acquired a new stake in Newell Brands in the second quarter valued at approximately $3,851,000. Bank of America Corp DE acquired a new position in shares of Newell Brands during the 2nd quarter worth approximately $6,972,000. Jupiter Topco LLC acquired a new position in shares of Newell Brands during the 2nd quarter worth approximately $1,162,000. Hsbc Holdings PLC lifted its position in shares of Newell Brands by 264.0% during the 2nd quarter. Hsbc Holdings PLC now owns 240,392 shares of the company's stock valued at $1,447,000 after buying an additional 174,357 shares in the last quarter. Finally, Weiss Asset Management LP purchased a new position in shares of Newell Brands during the 1st quarter valued at approximately $1,261,000. Institutional investors and hedge funds own 92.50% of the company's stock.

Newell Brands Company Profile

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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