Newell Brands (NASDAQ:NWL) Price Target Cut to $7.75 by Analysts at Citigroup

Newell Brands (NASDAQ:NWL) had its target price dropped by Citigroup from $10.50 to $7.75 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price objective would suggest a potential upside of 7.74% from the company’s current price.

Several other analysts have also issued reports on NWL. JPMorgan Chase & Co. boosted their target price on shares of Newell Brands from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Barclays raised their price objective on Newell Brands from $10.00 to $11.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Wells Fargo & Company cut their price target 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 raised Newell Brands from a “hold” rating to a “buy” rating and upped their target price for the company from $10.00 to $17.00 in a research note on Monday, December 9th. Finally, 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 report on Monday. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Newell Brands presently has a consensus rating of “Hold” and a consensus price target of $10.55.

Newell Brands Stock Up 0.9 %

Shares of NASDAQ NWL opened at $7.19 on Monday. Newell Brands has a 52 week low of $5.39 and a 52 week high of $11.78. The company has a market cap of $2.99 billion, a price-to-earnings ratio of -11.99, a PEG ratio of 1.09 and a beta of 0.89. 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’s fifty day moving average is $10.15 and its 200 day moving average is $8.72.

Newell Brands (NASDAQ:NWL) last posted 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 positive return on equity of 10.22% and a negative net margin of 3.22%. During the same period in the prior year, the company posted $0.22 EPS. On average, equities research analysts expect that Newell Brands will post 0.65 earnings per share for the current year.

Insider Transactions at Newell Brands

In related news, insider Tracy L. Platt sold 23,343 shares of the business’s stock in a transaction 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 filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On Newell Brands

Several institutional investors have recently added to or reduced their stakes in the business. 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 valued at $127,629,000 after buying an additional 2,634,114 shares during the last quarter. Primecap Management Co. CA grew its stake in Newell Brands by 4.8% in the 3rd 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 period. Hennessy Advisors Inc. purchased a new stake in shares of Newell Brands during the fourth quarter worth about $72,431,000. Victory Capital Management Inc. boosted its stake in shares of Newell Brands by 43.7% in the fourth quarter. Victory Capital Management Inc. now owns 6,790,865 shares of the company’s stock worth $67,637,000 after acquiring an additional 2,066,599 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Newell Brands by 1.8% during the third 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 in the last quarter. Institutional investors and hedge funds own 92.50% of the company’s stock.

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.