Newell Brands (NASDAQ:NWL) Shares Down 4.6% Following Analyst Downgrade

Newell Brands Inc. (NASDAQ:NWL)’s share price traded down 4.6% during mid-day trading on Monday after Royal Bank of Canada lowered their price target on the stock from $9.50 to $9.00. Royal Bank of Canada currently has a sector perform rating on the stock. Newell Brands traded as low as $6.81 and last traded at $6.81. 2,867,737 shares changed hands during trading, a decline of 57% from the average session volume of 6,598,353 shares. The stock had previously closed at $7.13.

Several other equities analysts have also weighed in on the stock. Wells Fargo & Company cut their target price on shares of Newell Brands from $11.00 to $9.00 and set an “equal weight” rating for the company in a report on Monday. Barclays upped 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. Canaccord Genuity Group dropped 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. Citigroup cut their price objective on Newell Brands from $10.50 to $7.75 and set a “neutral” rating on the stock in a research report on Monday. Finally, JPMorgan Chase & Co. raised their price objective on shares of Newell Brands from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Thursday, January 16th. 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, Newell Brands presently has an average rating of “Hold” and a consensus target price of $10.50.

Insider Activity

In other Newell Brands news, insider Tracy L. Platt sold 23,343 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $10.31, for a total transaction of $240,666.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.58% of the stock is currently owned by corporate insiders.

Institutional Trading of Newell Brands

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA grew its holdings in shares of Newell Brands by 18.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 16,618,316 shares of the company’s stock worth $127,629,000 after purchasing an additional 2,634,114 shares during the last quarter. Primecap Management Co. CA boosted its stake in Newell Brands by 4.8% in the third quarter. Primecap Management Co. CA now owns 14,723,079 shares of the company’s stock valued at $113,073,000 after acquiring an additional 674,015 shares during the last quarter. Hennessy Advisors Inc. acquired a new position in shares of Newell Brands in the 4th quarter valued at $72,431,000. Victory Capital Management Inc. boosted its holdings in Newell Brands by 43.7% during the fourth quarter. Victory Capital Management Inc. now owns 6,790,865 shares of the company’s stock worth $67,637,000 after buying an additional 2,066,599 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Newell Brands by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 6,635,283 shares of the company’s stock worth $50,973,000 after buying an additional 115,459 shares during the period. 92.50% of the stock is currently owned by institutional investors and hedge funds.

Newell Brands Stock Down 1.7 %

The firm’s 50 day moving average is $10.15 and its two-hundred day moving average is $8.72. The company has a current ratio of 0.99, a quick ratio of 0.50 and a debt-to-equity ratio of 1.43. The firm has a market cap of $2.92 billion, a P/E ratio of -11.68, a price-to-earnings-growth ratio of 1.09 and a beta of 0.89.

Newell Brands (NASDAQ:NWL) last issued its quarterly 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 negative net margin of 3.22% and a positive return on equity of 10.22%. During the same quarter in the previous year, the company posted $0.22 earnings per share. As a group, research analysts anticipate that Newell Brands Inc. will post 0.65 EPS for the current fiscal year.

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.