Newell Brands (NASDAQ:NWL) Rating Increased to Overweight at Barclays

Newell Brands (NASDAQ:NWL) was upgraded by investment analysts at Barclays from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Wednesday,Finviz reports. The firm currently has a $10.00 target price on the stock, up from their previous target price of $8.00. Barclays‘s price target would suggest a potential upside of 13.38% from the stock’s previous close.

A number of other equities analysts have also weighed in on the stock. Citigroup lowered shares of Newell Brands from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 13th. Wells Fargo & Company lifted their target price on Newell Brands from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Monday, October 28th. Truist Financial increased their price target on Newell Brands from $8.00 to $10.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. Royal Bank of Canada lifted their price objective on Newell Brands from $7.50 to $9.50 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. Finally, Canaccord Genuity Group increased their target price on Newell Brands from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $9.10.

Newell Brands Price Performance

Shares of NASDAQ:NWL opened at $8.82 on Wednesday. The company has a market capitalization of $3.67 billion, a P/E ratio of -14.70, a P/E/G ratio of 0.82 and a beta of 0.89. Newell Brands has a 1-year low of $5.39 and a 1-year high of $9.68. The firm’s 50 day simple moving average is $8.02 and its two-hundred day simple moving average is $7.52. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.99 and a quick ratio of 0.50.

Newell Brands (NASDAQ:NWL) last released its quarterly earnings data on Friday, October 25th. The company reported $0.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.16. The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.96 billion. Newell Brands had a positive return on equity of 10.22% and a negative net margin of 3.22%. The business’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.39 earnings per share. Research analysts expect that Newell Brands will post 0.65 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Bradford R. Turner sold 20,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $8.96, for a total value of $179,200.00. Following the completion of the sale, the insider now owns 230,254 shares of the company’s stock, valued at $2,063,075.84. This represents a 7.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.61% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NWL. Rothschild Investment LLC acquired a new position in shares of Newell Brands in the second quarter worth $26,000. Gradient Investments LLC acquired a new position in Newell Brands in the second quarter valued at approximately $46,000. Quarry LP grew 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 valued at $51,000 after buying an additional 4,056 shares during the last quarter. Innealta Capital LLC purchased a new stake in shares of Newell Brands in the 2nd quarter valued at about $58,000. Finally, Venturi Wealth Management LLC purchased a new position in shares of Newell Brands during the third quarter worth approximately $70,000. 92.50% of the stock is currently 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.