Newell Brands (NASDAQ:NWL) Given New $9.00 Price Target at Royal Bank of Canada

Newell Brands (NASDAQ:NWL) had its price objective reduced by Royal Bank of Canada from $9.50 to $9.00 in a report released on Monday morning,Benzinga reports. They currently have a sector perform rating on the stock.

A number of other analysts have also issued reports on the stock. Barclays lifted their price objective on shares of Newell Brands from $10.00 to $11.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Wells Fargo & Company cut their price objective on shares of Newell Brands from $11.00 to $9.00 and set an “equal weight” rating on the stock in a report on Monday. Truist Financial upgraded Newell Brands from a “hold” rating to a “buy” rating and raised their target price for the company from $10.00 to $17.00 in a research note on Monday, December 9th. Citigroup cut their price target on Newell Brands from $10.50 to $7.75 and set a “neutral” rating on the stock in a research note on Monday. Finally, Canaccord Genuity Group lowered their price objective on Newell Brands from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Monday. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Newell Brands presently has a consensus rating of “Hold” and an average price target of $10.50.

Newell Brands Trading Down 1.7 %

NASDAQ NWL opened at $7.01 on Monday. The company has a 50-day moving average of $10.15 and a 200-day moving average of $8.72. 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 12 month low of $5.39 and a 12 month high of $11.78. The company has a market cap of $2.92 billion, a P/E ratio of -11.68, a P/E/G ratio of 1.09 and a beta of 0.89.

Newell Brands (NASDAQ:NWL) last issued its earnings results on Friday, February 7th. The company reported $0.16 earnings per share 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 period last year, the company posted $0.22 EPS. As a group, equities analysts predict that Newell Brands will post 0.65 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Tracy L. Platt sold 23,343 shares of Newell Brands 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 legal filing with the SEC, which is available through this hyperlink. 0.58% of the stock is owned by company insiders.

Institutional Trading of Newell Brands

A number of hedge funds have recently modified their holdings of NWL. Smartleaf Asset Management LLC increased its stake in Newell Brands by 140.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 7,912 shares of the company’s stock valued at $79,000 after buying an additional 4,617 shares during the period. Versant Capital Management Inc grew its holdings in shares of 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 in the last quarter. Venturi Wealth Management LLC acquired a new position in shares of Newell Brands in the third quarter worth $70,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Newell Brands during the fourth quarter worth $101,000. Finally, Claro Advisors LLC acquired a new stake in Newell Brands during the third quarter valued at $79,000. Hedge funds and other institutional investors own 92.50% of the company’s stock.

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.