JPMorgan Chase & Co. Increases Newell Brands (NASDAQ:NWL) Price Target to $10.00

Newell Brands (NASDAQ:NWL) had its price target lifted by analysts at JPMorgan Chase & Co. from $9.00 to $10.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential downside of 1.19% from the stock’s current price.

Several other research firms also recently commented on NWL. Truist Financial upgraded shares of Newell Brands from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $10.00 to $17.00 in a research note on Monday, December 9th. Barclays raised Newell Brands from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $8.00 to $10.00 in a research report on Wednesday, November 20th. Wells Fargo & Company increased their price objective on Newell Brands from $9.00 to $11.00 and gave the company an “equal weight” rating in a report on Tuesday, January 7th. Finally, Canaccord Genuity Group lifted their target price on Newell Brands from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $10.70.

Newell Brands Stock Down 0.4 %

Shares of NWL stock opened at $10.12 on Thursday. The stock’s fifty day moving average price is $9.90 and its 200 day moving average price is $8.27. Newell Brands has a 1-year low of $5.39 and a 1-year high of $11.78. The company has a market cap of $4.21 billion, a price-to-earnings ratio of -16.87, a price-to-earnings-growth ratio of 0.86 and a beta of 0.89. 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 issued its quarterly earnings results on Friday, October 25th. The company reported $0.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.16. The business had revenue of $1.95 billion for 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 company’s revenue was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.39 earnings per share. On average, research analysts expect that Newell Brands will post 0.65 earnings per share for the current fiscal year.

Insider Activity at Newell Brands

In related news, insider Bradford R. Turner sold 20,000 shares of Newell Brands stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $8.96, for a total value of $179,200.00. Following the completion of the transaction, the insider now owns 230,254 shares in the company, valued at $2,063,075.84. The trade was a 7.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tracy L. Platt sold 23,343 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $10.31, for a total value of $240,666.33. The disclosure for this sale can be found here. Company insiders own 0.58% of the company’s stock.

Institutional Trading of Newell Brands

A number of institutional investors and hedge funds have recently made changes to their positions in NWL. SG Americas Securities LLC acquired a new stake in Newell Brands in the 4th quarter valued at $220,000. M.E. Allison & CO. Inc. purchased a new position in Newell Brands during the fourth quarter valued at $139,000. Aaron Wealth Advisors LLC acquired a new stake in shares of Newell Brands in the fourth quarter valued at about $197,000. Kera Capital Partners Inc. purchased a new stake in shares of Newell Brands during the fourth quarter worth about $167,000. Finally, Merit Financial Group LLC acquired a new position in shares of Newell Brands during the 4th quarter worth about $138,000. 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.