Newell Brands (NASDAQ:NWL) Given New $6.00 Price Target at Wells Fargo & Company

Newell Brands (NASDAQ:NWL - Get Free Report) had its target price boosted by investment analysts at Wells Fargo & Company from $5.00 to $6.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Wells Fargo & Company's price target points to a potential upside of 3.27% from the stock's previous close.

Other research analysts have also recently issued reports about the company. Wall Street Zen upgraded Newell Brands from a "sell" rating to a "hold" rating in a research report on Sunday, May 4th. Truist Financial dropped their price target on Newell Brands from $17.00 to $8.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Canaccord Genuity Group cut their price objective on Newell Brands from $12.00 to $11.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Royal Bank Of Canada restated a "sector perform" rating and set a $9.00 price target on shares of Newell Brands in a research note on Monday, April 28th. Finally, Citigroup reduced their target price on shares of Newell Brands from $7.75 to $4.75 and set a "neutral" rating on the stock in a report on Monday, April 14th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $7.64.

Newell Brands Stock Performance

Shares of NASDAQ NWL traded down $0.10 during midday trading on Wednesday, reaching $5.81. The company had a trading volume of 6,602,718 shares, compared to its average volume of 7,933,530. The stock has a market cap of $2.43 billion, a P/E ratio of -9.85 and a beta of 0.96. The company has a current ratio of 1.13, a quick ratio of 0.54 and a debt-to-equity ratio of 1.68. Newell Brands has a 1 year low of $4.22 and a 1 year high of $11.78. The business's 50-day simple moving average is $5.52 and its 200 day simple moving average is $6.76.

Newell Brands (NASDAQ:NWL - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.06. Newell Brands had a positive return on equity of 9.95% and a negative net margin of 3.26%. The business had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.54 billion. The business's revenue was down 5.3% on a year-over-year basis. On average, analysts forecast that Newell Brands will post 0.72 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NWL. Castlekeep Investment Advisors LLC acquired a new position in shares of Newell Brands in the 4th quarter valued at $33,000. Farther Finance Advisors LLC increased its stake in Newell Brands by 212.6% in the first quarter. Farther Finance Advisors LLC now owns 6,130 shares of the company's stock valued at $38,000 after purchasing an additional 4,169 shares during the period. Parallel Advisors LLC raised its holdings in shares of Newell Brands by 194.3% in the second 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 during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of Newell Brands during the fourth quarter worth about $46,000. Finally, OMNI 360 Wealth Inc. purchased a new position in shares of Newell Brands during the second quarter worth about $58,000. Institutional investors and hedge funds 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.