Newell Brands (NASDAQ:NWL) Price Target Raised to $11.00 at Wells Fargo & Company

Newell Brands (NASDAQ:NWL) had its price target boosted by equities researchers at Wells Fargo & Company from $9.00 to $11.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 8.59% from the stock’s current price.

NWL has been the subject of a number of other reports. Truist Financial upgraded Newell Brands from a “hold” rating to a “buy” rating and upped their price objective for the stock from $10.00 to $17.00 in a research note on Monday, December 9th. Barclays upgraded shares of Newell Brands from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $8.00 to $10.00 in a research report on Wednesday, November 20th. JPMorgan Chase & Co. cut their price objective on shares of Newell Brands from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, October 11th. Finally, Canaccord Genuity Group upped their target price on shares of Newell Brands from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. One 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 company has an average rating of “Hold” and a consensus price target of $10.20.

Newell Brands Stock Performance

NWL stock traded down $0.04 during trading on Tuesday, hitting $10.13. 362,942 shares of the company’s stock traded hands, compared to its average volume of 3,037,489. The stock has a market capitalization of $4.21 billion, a price-to-earnings ratio of -16.88, a price-to-earnings-growth ratio of 1.02 and a beta of 0.89. Newell Brands has a 52 week low of $5.39 and a 52 week high of $11.78. The stock has a fifty day moving average price of $9.74 and a two-hundred day moving average price of $8.10. The company has a quick ratio of 0.50, a current ratio of 0.99 and a debt-to-equity ratio of 1.43.

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

Insider Transactions at Newell Brands

In related news, insider Bradford R. Turner sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $8.96, for a total transaction of $179,200.00. Following the transaction, the insider now directly owns 230,254 shares of the company’s stock, valued at approximately $2,063,075.84. The trade was a 7.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Tracy L. Platt sold 23,343 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $10.31, for a total transaction of $240,666.33. The disclosure for this sale can be found here. Corporate insiders own 0.58% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Quarry LP boosted its stake in shares of Newell Brands by 104.4% during the 2nd quarter. Quarry LP now owns 7,941 shares of the company’s stock worth $51,000 after acquiring an additional 4,056 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in shares of Newell Brands in the 3rd quarter worth approximately $70,000. Atomi Financial Group Inc. bought a new stake in Newell Brands in the 3rd quarter valued at $79,000. Claro Advisors LLC acquired a new stake in Newell Brands during the third quarter valued at approximately $79,000. Finally, Versant Capital Management Inc boosted its stake in Newell Brands by 24.8% in the 4th quarter. Versant Capital Management Inc now owns 8,376 shares of the company’s stock valued at $83,000 after buying an additional 1,666 shares in the last quarter. 92.50% of the stock is 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.