Newell Brands (NASDAQ:NWL) Price Target Raised to $11.00 at Barclays

Newell Brands (NASDAQ:NWL) had its target price lifted by equities research analysts at Barclays from $10.00 to $11.00 in a report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price target suggests a potential upside of 8.86% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Canaccord Genuity Group raised their price target on shares of Newell Brands from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. UBS Group raised their target price on shares of Newell Brands from $9.50 to $10.50 and gave the stock a “neutral” rating in a research note on Thursday. Wells Fargo & Company upped their price target on Newell Brands from $9.00 to $11.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 7th. JPMorgan Chase & Co. increased their price target on Newell Brands from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Truist Financial raised Newell Brands from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $10.00 to $17.00 in a research note on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $10.70.

Newell Brands Price Performance

NASDAQ:NWL traded down $0.06 during trading hours on Friday, hitting $10.11. 1,631,168 shares of the stock were exchanged, compared to its average volume of 4,836,200. The firm’s fifty day moving average price is $9.90 and its 200 day moving average price is $8.27. Newell Brands has a 52-week low of $5.39 and a 52-week high of $11.78. The company has a market cap of $4.20 billion, a P/E ratio of -16.84, a P/E/G ratio of 0.86 and a beta of 0.89. The company has a current ratio of 0.99, a quick ratio of 0.50 and a debt-to-equity ratio of 1.43.

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

Insider Buying and Selling

In other Newell Brands news, insider Bradford R. Turner sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $8.96, for a total value of $179,200.00. Following the sale, the insider now owns 230,254 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available through this link. Also, insider Tracy L. Platt sold 23,343 shares of the firm’s stock in a transaction on 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. Corporate insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Newell Brands

Several institutional investors have recently bought and sold shares of NWL. CIBC Asset Management Inc boosted its stake in shares of Newell Brands by 3.5% in the third quarter. CIBC Asset Management Inc now owns 39,590 shares of the company’s stock valued at $304,000 after purchasing an additional 1,345 shares during the period. Accurate Wealth Management LLC increased its position in shares of Newell Brands by 14.8% during the fourth quarter. Accurate Wealth Management LLC now owns 11,865 shares of the company’s stock worth $116,000 after acquiring an additional 1,531 shares during the period. Pallas Capital Advisors LLC raised its stake in shares of Newell Brands by 6.0% in the fourth quarter. Pallas Capital Advisors LLC now owns 28,865 shares of the company’s stock valued at $287,000 after acquiring an additional 1,625 shares in the last quarter. Versant Capital Management Inc grew its stake in Newell Brands by 24.8% during the 4th quarter. Versant Capital Management Inc now owns 8,376 shares of the company’s stock worth $83,000 after purchasing an additional 1,666 shares in the last quarter. Finally, Centaurus Financial Inc. raised its position in Newell Brands by 5.9% in the 2nd quarter. Centaurus Financial Inc. now owns 31,599 shares of the company’s stock valued at $203,000 after purchasing an additional 1,762 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.