Newell Brands (NASDAQ:NWL) Shares Up 5.2% – Still a Buy?

Newell Brands Inc. (NASDAQ:NWL) shares shot up 5.2% on Tuesday . The stock traded as high as $7.36 and last traded at $7.38. 7,338,075 shares were traded during mid-day trading, an increase of 2% from the average session volume of 7,227,337 shares. The stock had previously closed at $7.01.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on NWL shares. Truist Financial raised shares of Newell Brands from a “hold” rating to a “buy” rating and upped their price target for the stock from $10.00 to $17.00 in a research report on Monday, December 9th. Barclays increased their target price on Newell Brands from $10.00 to $11.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Canaccord Genuity Group reduced their price target on Newell Brands from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Monday. Wells Fargo & Company dropped 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 research note on Monday. Finally, JPMorgan Chase & Co. upped their target price on shares of Newell Brands from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Newell Brands presently has an average rating of “Hold” and an average target price of $10.50.

Newell Brands Trading Up 4.9 %

The business’s 50 day moving average price is $10.10 and its two-hundred day moving average price is $8.72. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.50 and a current ratio of 0.99. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of -12.26, a price-to-earnings-growth ratio of 1.09 and a beta of 0.89.

Newell Brands (NASDAQ:NWL) last announced its earnings results on Friday, February 7th. The company reported $0.16 earnings per share for the quarter, beating 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 quarter in the previous year, the company earned $0.22 earnings per share. Equities analysts forecast that Newell Brands Inc. will post 0.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Newell Brands

In related news, insider Tracy L. Platt sold 23,343 shares of the stock in a transaction dated 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On Newell Brands

Several large investors have recently made changes to their positions in the company. Hennessy Advisors Inc. acquired a new stake in shares of Newell Brands in the fourth quarter worth about $72,431,000. Victory Capital Management Inc. boosted its position in Newell Brands by 5,324.8% during the third quarter. Victory Capital Management Inc. now owns 4,724,266 shares of the company’s stock worth $36,282,000 after purchasing an additional 4,637,180 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in 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 purchasing an additional 2,634,114 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Newell Brands by 4.4% in the fourth quarter. Vanguard Group Inc. now owns 46,892,882 shares of the company’s stock valued at $467,053,000 after purchasing an additional 1,974,823 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Newell Brands by 36.8% in the fourth quarter. Bank of New York Mellon Corp now owns 4,026,323 shares of the company’s stock worth $40,102,000 after buying an additional 1,083,921 shares during the last quarter. 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.