Wells Fargo & Company Raises Newell Brands (NASDAQ:NWL) Price Target to $8.00

Newell Brands (NASDAQ:NWL) had its target price lifted by research analysts at Wells Fargo & Company from $7.00 to $8.00 in a report released on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential downside of 0.74% from the stock’s current price.

NWL has been the topic of a number of other research reports. Royal Bank of Canada cut their price objective on shares of Newell Brands from $9.00 to $7.50 and set a “sector perform” rating on the stock in a report on Monday, February 12th. Raymond James lowered Newell Brands from an “outperform” rating to a “market perform” rating in a research report on Monday, February 12th. Canaccord Genuity Group boosted their target price on Newell Brands from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Monday. Morgan Stanley reduced their price target on Newell Brands from $8.50 to $7.75 and set an “equal weight” rating for the company in a report on Monday, February 12th. Finally, Barclays upped their price target on shares of Newell Brands from $5.00 to $6.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $8.52.

Newell Brands Trading Up 3.5 %

NWL stock traded up $0.27 during trading on Monday, reaching $8.06. The company had a trading volume of 3,332,229 shares, compared to its average volume of 5,082,770. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.15 and a quick ratio of 0.58. Newell Brands has a 52 week low of $6.49 and a 52 week high of $12.02. The business has a 50 day moving average of $7.49 and a 200 day moving average of $7.74. The company has a market cap of $3.35 billion, a P/E ratio of -11.18, a PEG ratio of 1.54 and a beta of 0.95.

Newell Brands (NASDAQ:NWL) last released its earnings results on Friday, April 26th. The company reported ($0.07) EPS for the quarter, meeting analysts’ consensus estimates of ($0.07). The company had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Newell Brands had a positive return on equity of 11.21% and a negative net margin of 3.70%. The firm’s revenue for the quarter was down 5.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.06) EPS. As a group, sell-side analysts forecast that Newell Brands will post 0.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Pzena Investment Management LLC raised its position in shares of Newell Brands by 4.5% during the 3rd quarter. Pzena Investment Management LLC now owns 54,796,231 shares of the company’s stock valued at $494,810,000 after buying an additional 2,373,356 shares in the last quarter. Vanguard Group Inc. raised its holdings in Newell Brands by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 44,892,843 shares of the company’s stock valued at $389,670,000 after buying an additional 739,295 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Newell Brands by 5.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 13,747,330 shares of the company’s stock worth $119,327,000 after buying an additional 660,347 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Newell Brands by 5.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,623,470 shares of the company’s stock worth $74,855,000 after buying an additional 434,762 shares during the period. Finally, Primecap Management Co. CA raised its stake in shares of Newell Brands by 35.1% in the fourth quarter. Primecap Management Co. CA now owns 8,511,972 shares of the company’s stock valued at $73,884,000 after acquiring an additional 2,209,672 shares during the period. 92.50% of the stock is currently owned by institutional investors.

Newell Brands Company Profile

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.