Brokerages Set Newell Brands Inc. (NASDAQ:NWL) Price Target at $8.82

Shares of Newell Brands Inc. (NASDAQ:NWL) have been given a consensus recommendation of “Hold” by the eleven brokerages that are presently covering the firm, MarketBeat reports. Ten analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $8.82.

Several analysts recently issued reports on the stock. Citigroup cut their price target on shares of Newell Brands from $8.00 to $6.25 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Truist Financial increased their target price on Newell Brands from $8.00 to $10.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Royal Bank of Canada upped their price target on shares of Newell Brands from $7.50 to $9.50 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Newell Brands from $8.00 to $9.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Finally, Canaccord Genuity Group raised their target price on Newell Brands from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Monday, July 29th.

Newell Brands Stock Down 4.1 %

Newell Brands stock traded down $0.30 during trading on Monday, reaching $7.09. 4,424,842 shares of the company’s stock were exchanged, compared to its average volume of 5,023,473. The company’s 50-day moving average is $6.94 and its two-hundred day moving average is $7.46. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.51 and a current ratio of 0.98. Newell Brands has a 52-week low of $5.39 and a 52-week high of $10.88. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of -9.85, a PEG ratio of 1.47 and a beta of 0.88.

Newell Brands (NASDAQ:NWL) last announced its earnings results on Friday, July 26th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.21 by $0.15. Newell Brands had a positive return on equity of 13.04% and a negative net margin of 3.43%. The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same period last year, the business posted $0.24 EPS. The company’s revenue was down 7.8% on a year-over-year basis. On average, analysts predict that Newell Brands will post 0.64 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Rothschild Investment LLC acquired a new position in Newell Brands in the 2nd quarter valued at approximately $26,000. Quarry LP lifted its holdings in shares of Newell Brands by 106.2% during the 4th quarter. Quarry LP now owns 4,731 shares of the company’s stock worth $41,000 after acquiring an additional 2,437 shares during the period. NBC Securities Inc. boosted its position in shares of Newell Brands by 50.5% during the 1st quarter. NBC Securities Inc. now owns 5,302 shares of the company’s stock valued at $42,000 after acquiring an additional 1,780 shares in the last quarter. Quest Partners LLC acquired a new position in Newell Brands in the fourth quarter worth about $45,000. Finally, Gradient Investments LLC bought a new position in Newell Brands during the second quarter worth about $46,000. Institutional investors and hedge funds 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.