Newell Brands (NASDAQ:NWL) Price Target Cut to $6.00 by Analysts at Wells Fargo & Company

Newell Brands (NASDAQ:NWL) had its price objective reduced by analysts at Wells Fargo & Company from $7.00 to $6.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 28.34% from the stock’s current price.

Several other research firms have also issued reports on NWL. Canaccord Genuity Group dropped their price objective on Newell Brands from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Royal Bank of Canada decreased their price objective on shares of Newell Brands from $9.50 to $9.00 and set a “sector perform” rating on the stock in a research note on Monday, February 10th. UBS Group boosted their target price on Newell Brands from $9.50 to $10.50 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Barclays upped their price target on Newell Brands from $10.00 to $11.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Finally, Citigroup lowered their target price on shares of Newell Brands from $7.75 to $4.75 and set a “neutral” rating for the company in a research note on Monday. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Newell Brands currently has a consensus rating of “Hold” and a consensus price target of $9.69.

Newell Brands Trading Down 1.2 %

NASDAQ:NWL traded down $0.06 on Wednesday, reaching $4.68. The company’s stock had a trading volume of 406,322 shares, compared to its average volume of 8,923,400. Newell Brands has a 1-year low of $4.22 and a 1-year high of $11.78. The business’s 50-day moving average price is $6.26 and its two-hundred day moving average price is $8.28. The firm has a market cap of $1.95 billion, a PE ratio of -8.98, a PEG ratio of 0.95 and a beta of 0.84. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.56 and a current ratio of 1.14.

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

Institutional Trading of Newell Brands

A number of hedge funds have recently bought and sold shares of NWL. Castlekeep Investment Advisors LLC bought a new stake in Newell Brands in the fourth quarter worth $33,000. Farther Finance Advisors LLC boosted its stake in shares of Newell Brands by 212.6% during the 1st quarter. Farther Finance Advisors LLC now owns 6,130 shares of the company’s stock valued at $38,000 after purchasing an additional 4,169 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of Newell Brands during the fourth quarter valued at about $46,000. NBC Securities Inc. raised its stake in Newell Brands by 146,542.9% in the first quarter. NBC Securities Inc. now owns 10,265 shares of the company’s stock worth $63,000 after buying an additional 10,258 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in Newell Brands by 140.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 7,912 shares of the company’s stock worth $79,000 after buying an additional 4,617 shares during the period. Institutional investors own 92.50% of the company’s stock.

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.