Newell Brands (NASDAQ:NWL) was upgraded by Zacks Investment Research from a "hold" rating to a "buy" rating in a research note issued to investors on Wednesday, Zacks.com reports. The firm currently has a $30.00 target price on the stock. Zacks Investment Research's price target would indicate a potential upside of 5.78% from the stock's current price.
According to Zacks, "Shares of Newell Brands have outpaced the industry in the past three months, courtesy of the solid first-quarter 2021 results, wherein both bottom and top lines grew year over year. This also marked the company’s seventh straight quarter of earnings beat. Despite the challenging economic situation surrounding the pandemic, results reflected solid demand across all business units and regions along with enhanced supply-chain operations and robust consumption patterns. Encouragingly, it raised the 2021 view and issued upbeat second-quarter guidance. Further, it is progressing well with Project FUEL and other cost-cutting actions. However, Newell Brands has been witnessing weakness in margins due to inflation along with higher transportation and labor costs. Also, currency headwinds and rising input and transportation costs remain concerns."
NWL has been the topic of a number of other research reports. Truist increased their price objective on shares of Newell Brands from $30.00 to $35.00 in a report on Monday. Morgan Stanley upped their price objective on shares of Newell Brands from $27.00 to $29.00 and gave the stock an "equal weight" rating in a report on Monday. Bank of America upgraded shares of Newell Brands from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $24.00 to $27.00 in a research report on Friday, January 8th. Deutsche Bank Aktiengesellschaft lifted their target price on Newell Brands from $24.00 to $26.00 and gave the stock a "hold" rating in a report on Monday. Finally, TheStreet upgraded Newell Brands from a "c+" rating to a "b" rating in a research report on Friday, April 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of "Hold" and an average target price of $25.50.
NWL traded up $0.30 during trading on Wednesday, hitting $28.36. 40,606 shares of the company's stock were exchanged, compared to its average volume of 2,880,130. The stock has a 50 day moving average price of $26.63 and a 200 day moving average price of $23.64. Newell Brands has a 1 year low of $11.05 and a 1 year high of $28.17. The company has a current ratio of 1.51, a quick ratio of 0.96 and a debt-to-equity ratio of 1.55. The firm has a market cap of $12.06 billion, a P/E ratio of -109.07, a price-to-earnings-growth ratio of 5.05 and a beta of 1.06.
Newell Brands (NASDAQ:NWL) last released its quarterly earnings results on Thursday, April 29th. The company reported $0.30 earnings per share for the quarter, topping the Zacks' consensus estimate of $0.13 by $0.17. Newell Brands had a positive return on equity of 17.83% and a negative net margin of 1.11%. The firm had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.07 billion. During the same quarter in the prior year, the business earned $0.09 EPS. Newell Brands's quarterly revenue was up 21.3% compared to the same quarter last year. Analysts forecast that Newell Brands will post 1.71 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the business. Amundi Pioneer Asset Management Inc. increased its stake in shares of Newell Brands by 18.5% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 292,619 shares of the company's stock valued at $4,488,000 after buying an additional 45,706 shares in the last quarter. Sei Investments Co. raised its position in shares of Newell Brands by 19.7% in the 3rd quarter. Sei Investments Co. now owns 354,899 shares of the company's stock valued at $6,090,000 after acquiring an additional 58,437 shares during the period. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Newell Brands during the third quarter worth about $713,000. Louisiana State Employees Retirement System increased its stake in Newell Brands by 21.9% during the 4th quarter. Louisiana State Employees Retirement System now owns 23,400 shares of the company's stock worth $497,000 after purchasing an additional 4,200 shares in the last quarter. Finally, TRUE Private Wealth Advisors lifted its holdings in shares of Newell Brands by 60.0% in the fourth quarter. TRUE Private Wealth Advisors now owns 4,000 shares of the company's stock valued at $84,000 after purchasing an additional 1,500 shares in the last quarter. 86.50% of the stock is owned by institutional investors.
About Newell Brands
Newell Brands, Inc engages in the manufacture, marketing, and sale of consumer and commercial products. It operates through the following segments: Appliances and Cookware; Commercial Solutions, Home Solutions; Learning and Development; and Outdoor and Recreation. The Appliances and Cookware segment designs, manufactures, sources, markets and distributes a diverse line of household products.
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