Newell Brands (NASDAQ:NWL – Get Free Report) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday, Zacks reports.
A number of other analysts also recently issued reports on the stock. Wall Street Zen upgraded shares of Newell Brands from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 17th. Royal Bank Of Canada boosted their price target on shares of Newell Brands from $4.00 to $5.00 and gave the stock a “sector perform” rating in a research note on Monday, August 3rd. Barclays increased their price objective on shares of Newell Brands from $5.00 to $7.00 and gave the company an “overweight” rating in a report on Tuesday, July 21st. Canaccord Genuity Group raised their price objective on Newell Brands from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Finally, Citigroup reduced their target price on Newell Brands from $6.00 to $5.50 and set a “neutral” rating on the stock in a report on Monday. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Newell Brands currently has an average rating of “Hold” and a consensus target price of $6.62.
Newell Brands Trading Up 4.1%
NWL stock opened at $5.86 on Tuesday. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.27 and a quick ratio of 0.67. Newell Brands has a 1-year low of $3.08 and a 1-year high of $7.13. The business has a 50 day simple moving average of $5.66 and a two-hundred day simple moving average of $4.86. The company has a market capitalization of $2.50 billion, a price-to-earnings ratio of -7.61, a PEG ratio of 0.79 and a beta of 0.88.
Newell Brands (NASDAQ:NWL – Get Free Report) last released its quarterly earnings data on Friday, October 30th. The company reported $0.20 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.20. Newell Brands had a negative net margin of 4.42% and a positive return on equity of 13.41%. The firm had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter last year, the business posted $0.17 earnings per share. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. Research analysts anticipate that Newell Brands will post 0.76 EPS for the current fiscal year.
Hedge Funds Weigh In On Newell Brands
Several institutional investors have recently bought and sold shares of NWL. BlackRock Inc. bought a new position in Newell Brands during the second quarter valued at $436,133,000. Pzena Investment Management LLC bought a new stake in shares of Newell Brands in the 2nd quarter worth about $294,663,000. Rubric Capital Management LP lifted its holdings in shares of Newell Brands by 17.4% in the 1st quarter. Rubric Capital Management LP now owns 15,257,431 shares of the company’s stock worth $52,333,000 after acquiring an additional 2,257,431 shares during the last quarter. Primecap Management Co. CA bought a new stake in shares of Newell Brands in the 2nd quarter worth about $36,003,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Newell Brands during the 2nd quarter worth about $15,135,000. Institutional investors own 92.50% of the company’s stock.
About Newell Brands
Newell Brands Inc is a global consumer products company that designs, manufactures and markets products used in homes, workplaces and outdoor settings. Its portfolio includes well-known brands such as Rubbermaid, Sharpie, Graco, Coleman, Yankee Candle, Crock-Pot, Mr. Coffee, FoodSaver, Calphalon, Elmer’s and Sistema.
The company’s products span food and home storage, cookware and small kitchen appliances, writing instruments and other learning supplies, baby and parenting products, outdoor and recreation equipment, home fragrance, and commercial products.
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