Wells Fargo & Company Issues Pessimistic Forecast for Newell Brands (NASDAQ:NWL) Stock Price

Newell Brands (NASDAQ:NWL) had its price objective cut by research analysts at Wells Fargo & Company from $11.00 to $9.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 22.78% from the company’s current price.

Other research analysts have also issued research reports about the company. Barclays raised their price objective on Newell Brands from $10.00 to $11.00 and gave the company an “overweight” rating in a report on Friday, January 17th. JPMorgan Chase & Co. boosted their price target on shares of Newell Brands from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Canaccord Genuity Group cut their price objective on shares of Newell Brands from $15.00 to $14.00 and set a “buy” rating for the company in a report on Monday. UBS Group boosted their target price on Newell Brands from $9.50 to $10.50 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Finally, Truist Financial raised Newell Brands from a “hold” rating to a “buy” rating and increased their price target for the company from $10.00 to $17.00 in a report on Monday, December 9th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $10.50.

Newell Brands Stock Up 4.6 %

NWL stock opened at $7.33 on Monday. Newell Brands has a 52 week low of $5.39 and a 52 week high of $11.78. The company has a quick ratio of 0.50, a current ratio of 0.99 and a debt-to-equity ratio of 1.43. The firm has a 50-day simple moving average of $10.10 and a 200-day simple moving average of $8.72. The stock has a market capitalization of $3.05 billion, a P/E ratio of -12.22, a P/E/G ratio of 1.09 and a beta of 0.89.

Newell Brands (NASDAQ:NWL) last posted its quarterly earnings data on Friday, February 7th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. Newell Brands had a positive return on equity of 10.22% and a negative net margin of 3.22%. During the same quarter last year, the company posted $0.22 earnings per share. Equities analysts forecast that Newell Brands will post 0.65 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Tracy L. Platt sold 23,343 shares of the company’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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.58% of the stock is currently owned by company insiders.

Institutional Trading of Newell Brands

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Harvest Fund Management Co. Ltd acquired a new position in Newell Brands during the fourth quarter worth $46,000. Smartleaf Asset Management LLC lifted its stake in Newell Brands by 140.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 7,912 shares of the company’s stock worth $79,000 after acquiring an additional 4,617 shares in the last quarter. Versant Capital Management Inc boosted its holdings in Newell Brands by 24.8% during the 4th 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 during the period. Venturi Wealth Management LLC acquired a new position in Newell Brands in the 3rd quarter valued at about $70,000. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Newell Brands during the fourth quarter worth about $101,000. 92.50% of the stock is currently owned by hedge funds and other institutional investors.

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.