Wells Fargo & Company Issues Positive Forecast for Newell Brands (NASDAQ:NWL) Stock Price

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

NWL has been the subject of a number of other reports. Citigroup reduced their price target on shares of Newell Brands from $7.75 to $4.75 and set a "neutral" rating for the company in a research report on Monday, April 14th. Royal Bank Of Canada reissued a "sector perform" rating and set a $9.00 price target on shares of Newell Brands in a research report on Monday, April 28th. JPMorgan Chase & Co. raised shares of Newell Brands from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $6.00 to $7.00 in a research report on Friday, June 13th. UBS Group dropped their price objective on shares of Newell Brands from $5.50 to $5.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Finally, Truist Financial dropped their price objective on shares of Newell Brands from $17.00 to $8.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Newell Brands currently has an average rating of "Hold" and an average price target of $7.64.

Newell Brands Stock Down 1.7%

Newell Brands stock traded down $0.10 during midday trading on Wednesday, hitting $5.81. 6,602,718 shares of the company's stock were exchanged, compared to its average volume of 7,955,230. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.54 and a current ratio of 1.13. Newell Brands has a 12 month low of $4.22 and a 12 month high of $11.78. The firm has a 50-day moving average of $5.53 and a two-hundred day moving average of $6.70. The company has a market cap of $2.43 billion, a PE ratio of -9.85 and a beta of 0.96.

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

Institutional Investors Weigh In On Newell Brands

Several hedge funds have recently modified their holdings of the stock. Prosperity Planning Inc. raised its position in Newell Brands by 24.3% in the second quarter. Prosperity Planning Inc. now owns 99,352 shares of the company's stock worth $537,000 after acquiring an additional 19,441 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Newell Brands by 37.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 197,721 shares of the company's stock worth $1,155,000 after acquiring an additional 54,320 shares in the last quarter. Wedmont Private Capital purchased a new position in Newell Brands in the second quarter worth $290,000. Pallas Capital Advisors LLC raised its position in Newell Brands by 38.6% in the second quarter. Pallas Capital Advisors LLC now owns 98,641 shares of the company's stock worth $533,000 after acquiring an additional 27,487 shares in the last quarter. Finally, Parallel Advisors LLC increased its position 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 in the last quarter. 92.50% of the stock is owned by institutional investors and hedge funds.

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.