Newell Brands (NASDAQ:NWL) Stock Rating Upgraded by JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Newell Brands (NASDAQ:NWL - Free Report) from a neutral rating to an overweight rating in a research note issued to investors on Friday morning, MarketBeat reports. They currently have $7.00 target price on the stock, up from their previous target price of $6.00.

Several other research analysts have also recently issued reports on NWL. Citigroup decreased their target price on shares of Newell Brands from $7.75 to $4.75 and set a "neutral" rating for the company in a report on Monday, April 14th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $9.00 price objective on shares of Newell Brands in a research report on Monday, April 28th. Wells Fargo & Company reduced their target price on Newell Brands from $6.00 to $5.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. UBS Group lowered their price target on Newell Brands from $5.50 to $5.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Finally, Canaccord Genuity Group reduced their price objective on Newell Brands from $12.00 to $11.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $7.53.

Newell Brands Stock Up 10.3%

NASDAQ NWL traded up $0.54 during trading hours on Friday, reaching $5.78. 12,582,668 shares of the company's stock traded hands, compared to its average volume of 7,699,056. Newell Brands has a 52-week low of $4.22 and a 52-week high of $11.78. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.14 and a quick ratio of 0.56. The firm has a 50-day simple moving average of $5.24 and a 200 day simple moving average of $7.35. The firm has a market cap of $2.41 billion, a PE ratio of -11.12, a PEG ratio of 0.95 and a beta of 0.97.

Newell Brands (NASDAQ:NWL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported ($0.01) EPS for the quarter, topping analysts' consensus estimates of ($0.07) by $0.06. Newell Brands had a positive return on equity of 9.76% and a negative net margin of 2.85%. The firm had revenue of $1.57 billion for the quarter, compared to analysts' expectations of $1.54 billion. The firm's quarterly revenue was down 5.3% on a year-over-year basis. Sell-side analysts anticipate that Newell Brands will post 0.72 EPS for the current fiscal year.

Newell Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a dividend of $0.07 per share. The ex-dividend date was Friday, May 30th. This represents a $0.28 dividend on an annualized basis and a yield of 4.84%. Newell Brands's dividend payout ratio is currently -47.46%.

Institutional Investors Weigh In On Newell Brands

Hedge funds and other institutional investors have recently modified their holdings of the stock. Strs Ohio bought a new stake in Newell Brands during the 1st quarter worth approximately $822,000. Intech Investment Management LLC bought a new stake in shares of Newell Brands during the 1st quarter valued at $1,326,000. Focus Partners Wealth boosted its holdings in Newell Brands by 47.0% in the 1st quarter. Focus Partners Wealth now owns 63,846 shares of the company's stock worth $396,000 after buying an additional 20,406 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Newell Brands by 13.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,302,018 shares of the company's stock worth $8,073,000 after buying an additional 153,658 shares in the last quarter. Finally, Great Lakes Advisors LLC bought a new stake in Newell Brands during the first quarter valued at about $3,483,000. 92.50% of the stock is currently owned by hedge funds and other institutional investors.

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.