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

Newell Brands (NASDAQ:NWL) had its price objective lowered by Wells Fargo & Company from $9.00 to $7.00 in a report released 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 21.95% from the company’s previous close.

Other analysts also recently issued reports about the stock. Royal Bank of Canada dropped their price objective 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. Citigroup cut their target price on Newell Brands from $10.50 to $7.75 and set a “neutral” rating on the stock in a research note on Monday, February 10th. JPMorgan Chase & Co. raised their target price on Newell Brands from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Thursday, January 16th. UBS Group lifted their price target on Newell Brands from $9.50 to $10.50 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Finally, Barclays raised their price objective on shares of Newell Brands from $10.00 to $11.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Newell Brands has a consensus rating of “Hold” and a consensus price target of $10.58.

Newell Brands Trading Down 8.5 %

NASDAQ NWL traded down $0.53 during trading hours on Wednesday, reaching $5.74. The company’s stock had a trading volume of 4,461,645 shares, compared to its average volume of 8,498,889. 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 fifty day simple moving average of $7.42 and a 200-day simple moving average of $8.48. The stock has a market cap of $2.39 billion, a P/E ratio of -11.04, a P/E/G ratio of 0.95 and a beta of 0.88. Newell Brands has a 52 week low of $5.39 and a 52 week high of $11.78.

Newell Brands (NASDAQ:NWL) last released its earnings results on Friday, February 7th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates 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 previous year, the business posted $0.22 EPS. Equities analysts forecast that Newell Brands will post 0.72 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its holdings in Newell Brands by 4.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,992,076 shares of the company’s stock worth $39,761,000 after purchasing an additional 178,028 shares in the last quarter. Amundi increased its position in shares of Newell Brands by 194.4% during the fourth quarter. Amundi now owns 215,597 shares of the company’s stock worth $2,121,000 after purchasing an additional 142,361 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Newell Brands during the 4th quarter valued at $9,877,000. Empowered Funds LLC grew its stake in Newell Brands by 751.9% during the 4th quarter. Empowered Funds LLC now owns 100,251 shares of the company’s stock worth $999,000 after buying an additional 88,483 shares during the last quarter. Finally, AssuredPartners Investment Advisors LLC acquired a new position in Newell Brands during the 4th quarter valued at about $434,000. 92.50% of the stock is currently owned by hedge funds and other 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.