Newell Brands (NASDAQ:NWL) Price Target Lowered to $7.00 at Wells Fargo & Company

Newell Brands (NASDAQ:NWL) had its target price decreased by stock analysts at Wells Fargo & Company from $9.00 to $7.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 13.54% from the company’s previous close.

Several other equities analysts also recently issued reports on NWL. Royal Bank of Canada cut their price target on shares of Newell Brands from $9.50 to $9.00 and set a “sector perform” rating for the company in a report on Monday, February 10th. JPMorgan Chase & Co. lifted their price objective on Newell Brands from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Truist Financial upgraded Newell Brands from a “hold” rating to a “buy” rating and increased their target price for the stock from $10.00 to $17.00 in a report on Monday, December 9th. Barclays lifted their price target on Newell Brands from $10.00 to $11.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Finally, Canaccord Genuity Group decreased their price objective on shares of Newell Brands from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $10.58.

Newell Brands Price Performance

NWL traded down $0.02 during midday trading on Wednesday, reaching $6.17. 831,353 shares of the company’s stock were exchanged, compared to its average volume of 6,281,107. The company has a quick ratio of 0.56, a current ratio of 1.14 and a debt-to-equity ratio of 1.64. The business has a 50-day simple moving average of $7.50 and a two-hundred day simple moving average of $8.50. The firm has a market capitalization of $2.57 billion, a price-to-earnings ratio of -11.84, a price-to-earnings-growth ratio of 0.95 and a beta of 0.88. Newell Brands has a one year low of $5.39 and a one year high of $11.78.

Newell Brands (NASDAQ:NWL) last posted its earnings results on Friday, February 7th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. Newell Brands had a positive return on equity of 9.76% and a negative net margin of 2.85%. During the same quarter in the prior year, the firm posted $0.22 earnings per share. As a group, research analysts predict that Newell Brands will post 0.72 EPS for the current year.

Institutional Investors Weigh In On Newell Brands

A number of institutional investors have recently made changes to their positions in the stock. Castlekeep Investment Advisors LLC bought a new stake in shares of Newell Brands in the 4th quarter valued at about $33,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Newell Brands in the fourth quarter valued at approximately $46,000. Smartleaf Asset Management LLC increased its position in shares of Newell Brands by 140.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 7,912 shares of the company’s stock worth $79,000 after acquiring an additional 4,617 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of Newell Brands by 24.8% during the fourth quarter. Versant Capital Management Inc now owns 8,376 shares of the company’s stock worth $83,000 after acquiring an additional 1,666 shares during the period. Finally, Glenmede Trust Co. NA bought a new stake in Newell Brands in the 3rd quarter valued at $92,000. 92.50% of the stock is owned by institutional investors and hedge funds.

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.