Newell Brands (NASDAQ:NWL) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Key Points

• JPMorgan Chase & Co. raised its target price for Newell Brands from $7.00 to $8.00, indicating a potential upside of 27.59% from the current price.
• Overall, Newell Brands has received mixed ratings from analysts, with six holding a "hold" rating and four assigning a "buy" rating, leading to a consensus average target price of $7.94.
• Recent quarterly earnings showed a revenue of $1.57 billion, exceeding analysts' expectations, despite a year-over-year revenue decline of 5.3%.

Newell Brands (NASDAQ:NWL - Get Free Report) had its target price hoisted by JPMorgan Chase & Co. from $7.00 to $8.00 in a report released on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 27.59% from the company's current price.

A number of other research firms also recently weighed in on NWL. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $9.00 target price on shares of Newell Brands in a research report on Monday, April 28th. Truist Financial reduced their target price on shares of Newell Brands from $17.00 to $8.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Wells Fargo & Company upped their target price 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. Canaccord Genuity Group reduced their target price on shares of Newell Brands from $12.00 to $11.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Finally, Citigroup reaffirmed a "neutral" rating and issued a $6.00 target price (up from $5.00) on shares of Newell Brands in a research report on Tuesday, July 15th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $7.94.

Newell Brands Price Performance

NWL stock traded up $0.12 during midday trading on Friday, reaching $6.27. The company had a trading volume of 4,961,656 shares, compared to its average volume of 9,094,072. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.13 and a quick ratio of 0.54. Newell Brands has a 1 year low of $4.22 and a 1 year high of $11.78. The company has a market capitalization of $2.62 billion, a P/E ratio of -10.63 and a beta of 0.96. The firm has a 50-day moving average price of $5.58 and a 200-day moving average price of $6.46.

Newell Brands (NASDAQ:NWL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported ($0.01) earnings per share for the quarter, topping analysts' consensus estimates of ($0.07) by $0.06. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates 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 revenue was down 5.3% on a year-over-year basis. On average, research analysts anticipate that Newell Brands will post 0.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Newell Brands

Hedge funds have recently bought and sold shares of the business. FMR LLC increased its position in Newell Brands by 233.6% during the fourth quarter. FMR LLC now owns 14,527,609 shares of the company's stock valued at $144,695,000 after acquiring an additional 10,172,696 shares during the last quarter. AQR Capital Management LLC increased its position in Newell Brands by 401.2% during the first quarter. AQR Capital Management LLC now owns 10,588,136 shares of the company's stock valued at $65,382,000 after acquiring an additional 8,475,385 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Newell Brands by 25.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 20,846,692 shares of the company's stock valued at $129,249,000 after acquiring an additional 4,273,541 shares during the last quarter. Norges Bank bought a new position in Newell Brands during the fourth quarter valued at $37,174,000. Finally, Dimensional Fund Advisors LP increased its position in Newell Brands by 21.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 18,089,297 shares of the company's stock valued at $180,172,000 after acquiring an additional 3,188,718 shares during 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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