Newell Brands (NASDAQ:NWL) Hits New 1-Year High Following Analyst Upgrade

Newell Brands Inc. (NASDAQ:NWL)’s stock price reached a new 52-week high during mid-day trading on Monday after Truist Financial upgraded the stock from a hold rating to a buy rating. Truist Financial now has a $17.00 price target on the stock, up from their previous price target of $10.00. Newell Brands traded as high as $10.70 and last traded at $10.70, with a volume of 28811 shares traded. The stock had previously closed at $10.31.

Other equities research analysts have also recently issued reports about the company. Citigroup cut Newell Brands from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 13th. Canaccord Genuity Group boosted their price target on shares of Newell Brands from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Friday. Barclays raised shares of Newell Brands from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $8.00 to $10.00 in a report on Wednesday, November 20th. JPMorgan Chase & Co. lowered their target price on shares of Newell Brands from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, October 11th. Finally, Wells Fargo & Company raised their price target on Newell Brands from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Monday, October 28th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Newell Brands currently has a consensus rating of “Hold” and a consensus target price of $10.00.

Insider Activity at Newell Brands

In related news, insider Bradford R. Turner sold 20,000 shares of the stock in a transaction 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 transaction, the insider now owns 230,254 shares of the company’s stock, valued at $2,063,075.84. This represents a 7.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tracy L. Platt sold 23,343 shares of Newell Brands 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. 0.58% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Newell Brands

Several institutional investors have recently modified their holdings of NWL. Rothschild Investment LLC bought a new stake in Newell Brands in the second quarter worth $26,000. Gradient Investments LLC purchased a new stake in Newell Brands during the 2nd quarter valued at about $46,000. Quarry LP grew its position in 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 during the last quarter. Innealta Capital LLC purchased a new position in Newell Brands in the 2nd quarter worth approximately $58,000. Finally, Venturi Wealth Management LLC bought a new stake in Newell Brands in the third quarter valued at approximately $70,000. 92.50% of the stock is currently owned by institutional investors.

Newell Brands Stock Performance

The company has a debt-to-equity ratio of 1.43, a current ratio of 0.99 and a quick ratio of 0.50. The stock has a market cap of $4.79 billion, a PE ratio of -19.18, a price-to-earnings-growth ratio of 0.95 and a beta of 0.90. The business has a 50 day moving average price of $8.57 and a two-hundred day moving average price of $7.64.

Newell Brands (NASDAQ:NWL) last announced its quarterly earnings results on Friday, October 25th. The company reported $0.16 earnings per share (EPS) 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 negative net margin of 3.22% and a positive return on equity of 10.22%. The company’s revenue was down 2.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.39 EPS. As a group, equities research analysts forecast that Newell Brands Inc. will post 0.66 EPS for the current fiscal year.

Newell Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Friday, November 29th. Newell Brands’s payout ratio is -46.67%.

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.