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

Newell Brands (NASDAQ:NWL) had its price objective increased by investment analysts at Wells Fargo & Company from $9.00 to $11.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 8.59% from the company’s previous close.

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

Newell Brands Stock Down 0.4 %

NWL stock traded down $0.04 during trading on Tuesday, hitting $10.13. 362,942 shares of the company’s stock were exchanged, compared to its average volume of 3,037,489. 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 has a 52-week low of $5.39 and a 52-week high of $11.78. The business has a 50-day moving average price of $9.74 and a two-hundred day moving average price of $8.10. The stock has a market capitalization of $4.21 billion, a price-to-earnings ratio of -16.88, a PEG ratio of 1.02 and a beta of 0.89.

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

Insider Transactions at Newell Brands

In related news, insider Tracy L. Platt sold 23,343 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $10.31, for a total transaction of $240,666.33. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Bradford R. Turner sold 20,000 shares of the company’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 completion of the transaction, the insider now owns 230,254 shares of the company’s stock, valued at approximately $2,063,075.84. This represents a 7.99 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.58% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NWL. CIBC Asset Management Inc raised its position in shares of Newell Brands by 3.5% in the 3rd 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 in the last quarter. Versant Capital Management Inc raised its holdings in Newell Brands by 24.8% in the fourth quarter. Versant Capital Management Inc now owns 8,376 shares of the company’s stock valued at $83,000 after acquiring an additional 1,666 shares in the last quarter. Centaurus Financial Inc. boosted its stake in Newell Brands by 5.9% during the 2nd quarter. Centaurus Financial Inc. now owns 31,599 shares of the company’s stock valued at $203,000 after acquiring an additional 1,762 shares during the last quarter. Arizona State Retirement System grew its holdings in Newell Brands by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 116,226 shares of the company’s stock worth $745,000 after acquiring an additional 2,394 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in Newell Brands by 26.5% during the 3rd quarter. GAMMA Investing LLC now owns 15,002 shares of the company’s stock worth $115,000 after acquiring an additional 3,142 shares in the last quarter. Hedge funds and other institutional investors own 92.50% of the company’s stock.

About Newell Brands

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.