Newell Brands (NASDAQ:NWL) Price Target Raised to $15.00

Newell Brands (NASDAQ:NWL) had its price target increased by Canaccord Genuity Group from $13.00 to $15.00 in a report released on Friday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also recently commented on NWL. Barclays raised shares of Newell Brands from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $8.00 to $10.00 in a research note on Wednesday, November 20th. Wells Fargo & Company boosted their price objective on shares of Newell Brands from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Monday, October 28th. 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 report on Friday, October 11th. Finally, Citigroup lowered shares of Newell Brands from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $9.30.

Newell Brands Price Performance

NWL stock opened at $10.31 on Friday. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.99 and a quick ratio of 0.50. Newell Brands has a one year low of $5.39 and a one year high of $10.44. The stock has a market cap of $4.29 billion, a PE ratio of -17.18, a P/E/G ratio of 0.93 and a beta of 0.90. The firm has a 50 day simple moving average of $8.57 and a two-hundred day simple moving average of $7.64.

Newell Brands (NASDAQ:NWL) last released its quarterly earnings results on Friday, October 25th. The company reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. Newell Brands had a negative net margin of 3.22% and a positive return on equity of 10.22%. The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the previous year, the company earned $0.39 EPS. The business’s quarterly revenue was down 2.6% compared to the same quarter last year. On average, analysts predict that Newell Brands will post 0.66 EPS for the current fiscal year.

Newell Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.07 per share. The ex-dividend date is Friday, November 29th. This represents a $0.28 dividend on an annualized basis and a yield of 2.72%. Newell Brands’s dividend payout ratio is currently -46.67%.

Insider Activity at Newell Brands

In other Newell Brands news, insider Tracy L. Platt sold 23,343 shares of the business’s stock in a transaction on Friday, December 6th. The shares were 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 business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $8.96, for a total transaction of $179,200.00. Following the transaction, the insider now directly owns 230,254 shares in the company, valued at approximately $2,063,075.84. The trade was a 7.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in NWL. Rothschild Investment LLC purchased a new stake in shares of Newell Brands in the 2nd quarter worth about $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 valued at $51,000 after purchasing an additional 4,056 shares during the last quarter. Innealta Capital LLC purchased a new stake in Newell Brands during the 2nd quarter valued at about $58,000. Finally, Venturi Wealth Management LLC purchased a new stake in Newell Brands during the 3rd quarter valued at about $70,000. 92.50% of the stock is 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.