Newell Brands (NASDAQ:NWL) Raised to Overweight at Barclays

Newell Brands (NASDAQ:NWL) was upgraded by analysts at Barclays from an “equal weight” rating to an “overweight” rating in a research note issued on Wednesday, MarketBeat reports. The brokerage presently has a $10.00 price target on the stock, up from their prior price target of $8.00. Barclays‘s price target would suggest a potential upside of 11.86% from the stock’s previous close.

A number of other research firms have also commented on NWL. Wells Fargo & Company raised their price objective on Newell Brands from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Monday, October 28th. Truist Financial raised their price objective on Newell Brands from $8.00 to $10.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. Citigroup downgraded Newell Brands from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 13th. Canaccord Genuity Group lifted their target price on Newell Brands from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Newell Brands from $8.00 to $9.00 and gave the stock a “hold” rating in a report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Newell Brands has a consensus rating of “Hold” and a consensus target price of $9.10.

Newell Brands Stock Performance

NWL opened at $8.94 on Wednesday. Newell Brands has a 12-month low of $5.39 and a 12-month high of $9.68. The stock has a market cap of $3.72 billion, a price-to-earnings ratio of -14.90, a PEG ratio of 0.82 and a beta of 0.89. The business has a 50 day moving average of $8.08 and a 200-day moving average of $7.54. 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 (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 analysts’ consensus estimates of $0.16. Newell Brands had a positive return on equity of 10.22% and a negative net margin of 3.22%. The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same period last year, the firm posted $0.39 earnings per share. The business’s revenue was down 2.6% on a year-over-year basis. On average, equities research analysts expect that Newell Brands will post 0.66 earnings per share for the current year.

Insider Activity at Newell Brands

In related news, insider Bradford R. Turner sold 20,000 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 230,254 shares of the company’s stock, valued at $2,063,075.84. The trade was a 7.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.58% of the stock is currently owned by corporate insiders.

Institutional Trading of Newell Brands

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NWL. Rothschild Investment LLC purchased a new position in shares of Newell Brands in the 2nd quarter worth approximately $26,000. Gradient Investments LLC purchased a new position in shares of Newell Brands in the 2nd quarter worth approximately $46,000. Quarry LP boosted its stake in shares of Newell Brands by 104.4% in the 2nd quarter. Quarry LP now owns 7,941 shares of the company’s stock worth $51,000 after buying an additional 4,056 shares during the last quarter. Innealta Capital LLC purchased a new position in shares of Newell Brands in the 2nd quarter worth approximately $58,000. Finally, Venturi Wealth Management LLC purchased a new position in shares of Newell Brands in the 3rd quarter worth approximately $70,000. 92.50% of the stock is owned by institutional investors.

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.