Newell Brands (NASDAQ:NWL - Get Free Report) had its target price dropped by equities research analysts at JPMorgan Chase & Co. from $8.00 to $7.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 37.39% from the company's previous close.
Several other research firms have also recently weighed in on NWL. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $9.00 target price on shares of Newell Brands in a research note on Monday, April 28th. Barclays raised their target price on shares of Newell Brands from $8.00 to $9.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Canaccord Genuity Group cut their target price on shares of Newell Brands from $12.00 to $11.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Wells Fargo & Company lifted their price objective on shares of Newell Brands from $5.00 to $6.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 9th. Finally, Citigroup reissued a "neutral" rating and issued a $6.00 price objective (up from $5.00) on shares of Newell Brands in a research note on Tuesday, July 15th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, Newell Brands has a consensus rating of "Hold" and a consensus target price of $7.69.
View Our Latest Stock Report on NWL
Newell Brands Stock Performance
NWL traded up $0.34 during trading on Monday, hitting $5.10. The company's stock had a trading volume of 5,448,040 shares, compared to its average volume of 9,181,238. The business's 50 day simple moving average is $5.59 and its 200-day simple moving average is $6.24. The company has a quick ratio of 0.57, a current ratio of 1.12 and a debt-to-equity ratio of 1.68. The firm has a market cap of $2.13 billion, a PE ratio of -8.64 and a beta of 0.96. Newell Brands has a one year low of $4.22 and a one 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 (EPS) for the quarter, hitting analysts' consensus estimates of $0.24. The firm had revenue of $1.94 billion during the quarter, compared to analysts' expectations 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 for the quarter was down 4.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.36 earnings per share. As a group, sell-side analysts predict that Newell Brands will post 0.72 EPS for the current fiscal year.
Institutional Investors Weigh In On Newell Brands
Institutional investors have recently made changes to their positions in the company. Castlekeep Investment Advisors LLC bought a new stake in shares of Newell Brands in the 4th quarter worth about $33,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Newell Brands in the 2nd quarter worth about $35,000. Farther Finance Advisors LLC lifted its holdings in shares of Newell Brands by 212.6% in the 1st quarter. Farther Finance Advisors LLC now owns 6,130 shares of the company's stock worth $38,000 after acquiring an additional 4,169 shares during the last quarter. Parallel Advisors LLC lifted its holdings in Newell Brands by 194.3% during the 2nd quarter. Parallel Advisors LLC now owns 8,067 shares of the company's stock valued at $44,000 after buying an additional 5,326 shares in the last quarter. Finally, HB Wealth Management LLC bought a new stake in Newell Brands during the 2nd quarter valued at about $55,000. Institutional investors own 92.50% of the company's stock.
About Newell Brands
(
Get Free Report)
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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