Truist Financial Upgrades Newell Brands (NASDAQ:NWL) to “Buy”

Newell Brands (NASDAQ:NWL) was upgraded by analysts at Truist Financial from a “hold” rating to a “buy” rating in a research report issued on Monday, Marketbeat Ratings reports. The brokerage currently has a $17.00 price target on the stock, up from their previous price target of $10.00. Truist Financial’s price target would suggest a potential upside of 46.17% from the stock’s previous close.

NWL has been the subject of several other research reports. JPMorgan Chase & Co. lowered their price objective on shares of Newell Brands from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Friday, October 11th. 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 report on Friday, December 6th. Wells Fargo & Company raised their price target on shares of Newell Brands from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Monday, October 28th. Barclays raised shares of Newell Brands from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $8.00 to $10.00 in a research report on Wednesday, November 20th. Finally, Citigroup downgraded shares of Newell Brands from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Newell Brands has an average rating of “Hold” and a consensus price target of $10.00.

Newell Brands Stock Up 1.0 %

Shares of NASDAQ:NWL opened at $11.63 on Monday. 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 has a 52-week low of $5.39 and a 52-week high of $11.68. The company has a 50 day moving average of $8.65 and a two-hundred day moving average of $7.67. The company has a market capitalization of $4.84 billion, a price-to-earnings ratio of -19.10, a price-to-earnings-growth ratio of 0.95 and a beta of 0.90.

Newell Brands (NASDAQ:NWL) last issued 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 last year, the company earned $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, analysts forecast that Newell Brands will post 0.66 earnings per share for the current fiscal year.

Insider Buying and Selling at Newell Brands

In other Newell Brands news, insider Bradford R. Turner sold 20,000 shares of the firm’s 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 sale, the insider now directly owns 230,254 shares in the company, valued at approximately $2,063,075.84. This trade represents a 7.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed 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 shares were 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 currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Principal Financial Group Inc. increased its holdings in shares of Newell Brands by 4.4% during the third quarter. Principal Financial Group Inc. now owns 1,959,641 shares of the company’s stock valued at $15,050,000 after purchasing an additional 82,337 shares during the period. Citigroup Inc. grew its holdings in Newell Brands by 7.7% during the third quarter. Citigroup Inc. now owns 1,233,918 shares of the company’s stock worth $9,476,000 after acquiring an additional 88,164 shares during the period. Versor Investments LP grew its holdings in Newell Brands by 135.6% during the third quarter. Versor Investments LP now owns 98,700 shares of the company’s stock worth $758,000 after acquiring an additional 56,800 shares during the period. Primecap Management Co. CA grew its holdings in Newell Brands by 4.8% during the third quarter. Primecap Management Co. CA now owns 14,723,079 shares of the company’s stock worth $113,073,000 after acquiring an additional 674,015 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Newell Brands by 29.2% during the second quarter. Dimensional Fund Advisors LP now owns 11,818,316 shares of the company’s stock worth $75,753,000 after acquiring an additional 2,668,384 shares during the period. 92.50% of the stock is owned by institutional investors and hedge funds.

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.