Barclays Raises Newell Brands (NASDAQ:NWL) Price Target to $7.00

Newell Brands (NASDAQ:NWL) had its price objective raised by Barclays from $6.00 to $7.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has an “underweight” rating on the stock. Barclays‘s price target points to a potential downside of 12.06% from the company’s previous close.

A number of other analysts have also weighed in on NWL. JPMorgan Chase & Co. increased their target price on Newell Brands from $7.00 to $9.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 9th. Raymond James lowered shares of Newell Brands from an “outperform” rating to a “market perform” rating in a research note on Monday, February 12th. Wells Fargo & Company upped their price target on shares of Newell Brands from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Monday. UBS Group downgraded shares of Newell Brands from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $10.00 to $8.50 in a research note on Friday, February 16th. Finally, Citigroup increased their target price on Newell Brands from $7.50 to $8.00 and gave the company a “neutral” rating in a research report on Monday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Newell Brands presently has a consensus rating of “Hold” and an average target price of $8.61.

Newell Brands Price Performance

NWL stock traded down $0.09 during trading on Tuesday, hitting $7.96. 438,265 shares of the company’s stock traded hands, compared to its average volume of 5,058,841. The business has a fifty day simple moving average of $7.49 and a 200 day simple moving average of $7.75. Newell Brands has a 52 week low of $6.49 and a 52 week high of $12.02. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.58 and a current ratio of 1.15. The stock has a market capitalization of $3.30 billion, a price-to-earnings ratio of -11.01, a P/E/G ratio of 1.54 and a beta of 0.95.

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

Institutional Trading of Newell Brands

A number of hedge funds have recently added to or reduced their stakes in NWL. Quarry LP lifted its holdings in Newell Brands by 106.2% during the fourth quarter. Quarry LP now owns 4,731 shares of the company’s stock valued at $41,000 after purchasing an additional 2,437 shares in the last quarter. Quest Partners LLC purchased a new stake in Newell Brands during the 4th quarter worth approximately $45,000. NBC Securities Inc. raised its holdings in shares of Newell Brands by 50.5% during the first quarter. NBC Securities Inc. now owns 5,302 shares of the company’s stock valued at $42,000 after acquiring an additional 1,780 shares during the last quarter. Authentikos Wealth Advisory LLC purchased a new position in shares of Newell Brands in the third quarter valued at approximately $51,000. Finally, GAMMA Investing LLC acquired a new stake in shares of Newell Brands in the fourth quarter worth approximately $61,000. 92.50% of the stock is 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.