JPMorgan Chase & Co. Issues Positive Forecast for Newell Brands (NASDAQ:NWL) Stock Price

Newell Brands (NASDAQ:NWL) had its price target lifted by research analysts at JPMorgan Chase & Co. from $9.00 to $10.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 0.20% from the stock’s previous close.

A number of other brokerages have also commented on NWL. Wells Fargo & Company increased their price objective on Newell Brands from $9.00 to $11.00 and gave the company an “equal weight” rating in a report on Tuesday, January 7th. Barclays raised Newell Brands from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $8.00 to $10.00 in a report on Wednesday, November 20th. Canaccord Genuity Group raised their target price on Newell Brands from $13.00 to $15.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Truist Financial raised Newell Brands from a “hold” rating to a “buy” rating and raised their target price for the company from $10.00 to $17.00 in a report on Monday, December 9th. 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 company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.40.

Newell Brands Stock Up 1.1 %

NWL opened at $9.98 on Thursday. Newell Brands has a fifty-two week low of $5.39 and a fifty-two week high of $11.78. The business has a 50-day moving average of $9.86 and a 200-day moving average of $8.25. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.99 and a quick ratio of 0.50. The company has a market capitalization of $4.15 billion, a PE ratio of -16.63, a price-to-earnings-growth ratio of 0.86 and a beta of 0.89.

Newell Brands (NASDAQ:NWL) last issued its quarterly earnings data on Friday, October 25th. The company reported $0.16 EPS for the quarter, meeting analysts’ consensus estimates of $0.16. The business 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 revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.39 EPS. Equities research analysts forecast that Newell Brands will post 0.65 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Bradford R. Turner sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $8.96, for a total transaction of $179,200.00. Following the completion of the transaction, the insider now owns 230,254 shares in the company, valued at $2,063,075.84. This trade represents a 7.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tracy L. Platt sold 23,343 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $10.31, for a total value of $240,666.33. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Newell Brands

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hennessy Advisors Inc. bought a new position in Newell Brands in the 4th quarter valued at $72,431,000. Victory Capital Management Inc. raised its position in Newell Brands by 5,324.8% in the 3rd quarter. Victory Capital Management Inc. now owns 4,724,266 shares of the company’s stock valued at $36,282,000 after purchasing an additional 4,637,180 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Newell Brands by 29.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 11,818,316 shares of the company’s stock valued at $75,753,000 after purchasing an additional 2,668,384 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Newell Brands by 18.8% in the 3rd 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. Finally, AQR Capital Management LLC raised its position in Newell Brands by 106.7% in the 2nd quarter. AQR Capital Management LLC now owns 2,546,418 shares of the company’s stock valued at $16,042,000 after purchasing an additional 1,314,514 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.