Canaccord Genuity Group Cuts Newell Brands (NASDAQ:NWL) Price Target to $9.00

Key Points

• Canaccord Genuity Group has lowered its price target for Newell Brands from $11.00 to $9.00, while maintaining a "buy" rating, indicating a potential upside of 76.37% from the company's previous close.
• The stock has received mixed ratings from several analysts, with a consensus rating of "Hold" and an average target price of $7.44, reflecting varied investor sentiment.
• Newell Brands reported quarterly earnings of $0.24 per share, meeting the consensus estimate, while revenues were slightly below expectations, showing a year-over-year decline of 4.8%.

Newell Brands (NASDAQ:NWL - Get Free Report) had its price target decreased by Canaccord Genuity Group from $11.00 to $9.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock. Canaccord Genuity Group's price target indicates a potential upside of 76.37% from the company's previous close.

Several other analysts also recently issued reports on the stock. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $9.00 price objective on shares of Newell Brands in a research report on Monday, April 28th. Citigroup reissued a "neutral" rating and set a $6.00 price target (up previously from $5.00) on shares of Newell Brands in a research report on Tuesday, July 15th. JPMorgan Chase & Co. decreased their price target on shares of Newell Brands from $8.00 to $7.00 and set an "overweight" rating for the company in a research report on Monday. Wells Fargo & Company raised their price target on shares of Newell Brands from $5.00 to $6.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 9th. Finally, UBS Group increased their target price on shares of Newell Brands from $5.00 to $5.50 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $7.44.

Newell Brands Stock Performance

NWL stock traded up $0.34 on Monday, hitting $5.10. The company's stock had a trading volume of 6,576,721 shares, compared to its average volume of 9,190,202. The company has a current ratio of 1.12, a quick ratio of 0.57 and a debt-to-equity ratio of 1.68. The stock has a market cap of $2.13 billion, a price-to-earnings ratio of -8.62 and a beta of 0.96. The firm has a 50 day moving average of $5.59 and a two-hundred day moving average of $6.24. Newell Brands has a 1 year low of $4.22 and a 1 year high of $11.78.

Newell Brands (NASDAQ:NWL - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The company reported $0.24 earnings per share for the quarter, hitting the consensus estimate of $0.24. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.95 billion. Newell Brands had a negative net margin of 3.29% and a positive return on equity of 8.48%. The company's revenue was down 4.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.36 EPS. Equities analysts predict that Newell Brands will post 0.72 EPS for the current fiscal year.

Hedge Funds Weigh In On Newell Brands

Institutional investors have recently bought and sold shares of the stock. Financial Sense Advisors Inc. bought a new stake in shares of Newell Brands in the 1st quarter valued at approximately $10,187,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of Newell Brands by 121.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 143,401 shares of the company's stock valued at $889,000 after purchasing an additional 78,718 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Newell Brands by 2.4% in the first quarter. Principal Financial Group Inc. now owns 2,064,725 shares of the company's stock valued at $12,801,000 after purchasing an additional 48,904 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Newell Brands by 21.8% during the fourth quarter. Russell Investments Group Ltd. now owns 3,288,610 shares of the company's stock worth $32,755,000 after acquiring an additional 588,777 shares in the last quarter. Finally, National Bank of Canada FI raised its stake in Newell Brands by 8,655.2% during the fourth quarter. National Bank of Canada FI now owns 204,871 shares of the company's stock worth $2,041,000 after acquiring an additional 202,531 shares in the last quarter. Hedge funds and other institutional investors 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.

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