Wells Fargo & Company Boosts Newell Brands (NASDAQ:NWL) Price Target to $8.00

Newell Brands (NASDAQ:NWL) had its price target lifted by analysts at Wells Fargo & Company from $7.00 to $8.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 0.76% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. UBS Group cut shares of Newell Brands from a “buy” rating to a “neutral” rating and cut their price target for the stock from $10.00 to $8.50 in a report on Friday, February 16th. Citigroup boosted their price objective on shares of Newell Brands from $7.50 to $8.00 and gave the stock a “neutral” rating in a research note on Monday. Barclays increased their price target on shares of Newell Brands from $5.00 to $6.00 and gave the company an “underweight” rating in a research report on Tuesday, January 16th. Morgan Stanley decreased their price objective on Newell Brands from $8.50 to $7.75 and set an “equal weight” rating for the company in a report on Monday, February 12th. Finally, Raymond James cut shares of Newell Brands from an “outperform” rating to a “market perform” rating in a report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Newell Brands currently has an average rating of “Hold” and an average target price of $8.61.

Newell Brands Price Performance

NWL stock opened at $7.94 on Monday. The company has a quick ratio of 0.58, a current ratio of 1.15 and a debt-to-equity ratio of 1.48. Newell Brands has a 52 week low of $6.49 and a 52 week high of $12.02. The company has a fifty day simple moving average of $7.50 and a two-hundred day simple moving average of $7.76. The firm has a market capitalization of $3.30 billion, a P/E ratio of -11.03, a price-to-earnings-growth ratio of 1.54 and a beta of 0.95.

Newell Brands (NASDAQ:NWL) last released its quarterly earnings results on Friday, April 26th. The company reported ($0.07) earnings per share for the quarter, meeting the consensus estimate of ($0.07). Newell Brands had a positive return on equity of 11.21% and a negative net margin of 3.70%. The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the prior year, the firm posted ($0.06) EPS. Newell Brands’s quarterly revenue was down 5.8% compared to the same quarter last year. Analysts anticipate that Newell Brands will post 0.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Newell Brands

A number of institutional investors have recently bought and sold shares of NWL. Quarry LP raised its holdings in Newell Brands by 106.2% in the 4th quarter. Quarry LP now owns 4,731 shares of the company’s stock valued at $41,000 after buying an additional 2,437 shares during the period. Quest Partners LLC acquired a new position in shares of Newell Brands in the fourth quarter worth $45,000. NBC Securities Inc. raised its position in Newell Brands by 50.5% in the 1st quarter. NBC Securities Inc. now owns 5,302 shares of the company’s stock valued at $42,000 after purchasing an additional 1,780 shares in the last quarter. Authentikos Wealth Advisory LLC purchased a new stake in shares of Newell Brands during the third quarter worth approximately $51,000. Finally, GAMMA Investing LLC purchased a new stake in shares of Newell Brands during the 4th quarter worth $61,000. 92.50% of the stock is owned by hedge funds and other 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.