Newell Brands (NASDAQ:NWL) Upgraded to Buy at Truist Financial

Newell Brands (NASDAQ:NWL) was upgraded by research analysts at Truist Financial from a “hold” rating to a “buy” rating in a report issued on Monday, Marketbeat Ratings reports. The firm presently has a $17.00 target price on the stock, up from their prior target price of $10.00. Truist Financial’s price objective points to a potential upside of 64.89% from the company’s current price.

NWL has been the topic of a number of other reports. Citigroup cut Newell Brands from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 13th. Canaccord Genuity Group increased their price objective on shares of Newell Brands from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday. JPMorgan Chase & Co. dropped their target price on shares of Newell Brands from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, October 11th. Barclays raised Newell Brands from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $8.00 to $10.00 in a research note on Wednesday, November 20th. Finally, Wells Fargo & Company lifted their target price on Newell Brands from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Monday, October 28th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Newell Brands has a consensus rating of “Hold” and an average target price of $10.00.

Newell Brands Stock Up 3.8 %

Newell Brands stock opened at $10.31 on Monday. Newell Brands has a one year low of $5.39 and a one year high of $10.44. The stock has a fifty day moving average of $8.57 and a 200 day moving average of $7.64. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.50 and a current ratio of 0.99. The stock has a market cap of $4.29 billion, a PE ratio of -17.18, a price-to-earnings-growth ratio of 0.95 and a beta of 0.90.

Newell Brands (NASDAQ:NWL) last posted its quarterly earnings data on Friday, October 25th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.16. Newell Brands had a negative net margin of 3.22% and a positive return on equity of 10.22%. The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter last year, the firm posted $0.39 earnings per share. The firm’s revenue was down 2.6% compared to the same quarter last year. As a group, sell-side analysts predict that Newell Brands will post 0.66 EPS for the current year.

Insider Buying and Selling

In related news, insider Tracy L. Platt sold 23,343 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $10.31, for a total transaction of $240,666.33. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Bradford R. Turner sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $8.96, for a total transaction of $179,200.00. Following the completion of the sale, the insider now directly owns 230,254 shares of the company’s stock, valued at approximately $2,063,075.84. The trade was a 7.99 % decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Newell Brands

A number of institutional investors and hedge funds have recently modified their holdings of the business. Rothschild Investment LLC purchased a new position in shares of Newell Brands during the second quarter worth approximately $26,000. Gradient Investments LLC acquired a new stake in Newell Brands in the second quarter valued at approximately $46,000. Quarry LP boosted its position in shares of Newell Brands by 104.4% in the 2nd quarter. Quarry LP now owns 7,941 shares of the company’s stock worth $51,000 after purchasing an additional 4,056 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of Newell Brands during the second quarter worth about $58,000. Finally, Venturi Wealth Management LLC purchased a new stake in shares of Newell Brands during the third quarter worth about $70,000. 92.50% of the stock is owned by 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.