Wells Fargo & Company Forecasts Strong Price Appreciation for Newell Brands (NASDAQ:NWL) Stock

Newell Brands (NASDAQ:NWL) had its price target lifted by analysts at Wells Fargo & Company from $9.00 to $11.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 11.79% from the stock’s previous close.

A number of other research firms have also commented on NWL. Truist Financial raised shares of Newell Brands from a “hold” rating to a “buy” rating and raised their price target for the stock from $10.00 to $17.00 in a research report on Monday, December 9th. Canaccord Genuity Group boosted their price target on Newell Brands from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. lowered their price objective on Newell Brands from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, October 11th. Finally, Barclays upgraded Newell Brands from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $8.00 to $10.00 in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $10.20.

Newell Brands Stock Performance

Shares of NWL stock opened at $9.84 on Tuesday. The company has a market capitalization of $4.09 billion, a price-to-earnings ratio of -16.40, a PEG ratio of 1.02 and a beta of 0.89. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.50 and a current ratio of 0.99. Newell Brands has a 52 week low of $5.39 and a 52 week high of $11.78. The company has a 50-day simple moving average of $9.78 and a 200 day simple moving average of $8.14.

Newell Brands (NASDAQ:NWL) last announced its earnings results on Friday, October 25th. The company reported $0.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.16. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.96 billion. Newell Brands had a positive return on equity of 10.22% and a negative net margin of 3.22%. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.39 earnings per share. On average, sell-side analysts predict that Newell Brands will post 0.65 earnings per share for the current year.

Insider Activity at Newell Brands

In related news, insider Tracy L. Platt sold 23,343 shares of the firm’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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Bradford R. Turner sold 20,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $8.96, for a total value of $179,200.00. Following the completion of the transaction, the insider now directly owns 230,254 shares of the company’s stock, valued at approximately $2,063,075.84. The trade was a 7.99 % decrease in their position. The disclosure for this sale can be found here. 0.58% of the stock is owned by insiders.

Hedge Funds Weigh In On Newell Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in NWL. GAMMA Investing LLC grew its stake in shares of Newell Brands by 34.4% in the fourth quarter. GAMMA Investing LLC now owns 20,158 shares of the company’s stock worth $201,000 after purchasing an additional 5,156 shares during the last quarter. Versant Capital Management Inc grew its position in shares of Newell Brands by 24.8% in the 4th quarter. Versant Capital Management Inc now owns 8,376 shares of the company’s stock valued at $83,000 after buying an additional 1,666 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Newell Brands by 4.4% in the third quarter. Principal Financial Group Inc. now owns 1,959,641 shares of the company’s stock valued at $15,050,000 after buying an additional 82,337 shares during the period. World Investment Advisors LLC bought a new position in shares of Newell Brands during the third quarter worth about $326,000. Finally, Virtu Financial LLC acquired a new position in shares of Newell Brands in the third quarter worth approximately $225,000. 92.50% of the stock is currently owned by institutional investors and hedge funds.

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.