Newell Brands (NASDAQ:NWL) Given New $9.00 Price Target at Royal Bank of Canada

Newell Brands (NASDAQ:NWL) had its price objective cut by Royal Bank of Canada from $9.50 to $9.00 in a report released on Monday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price points to a potential upside of 30.15% from the company’s current price.

Several other equities research analysts have also recently weighed in on the company. Citigroup decreased their price target on Newell Brands from $10.50 to $7.75 and set a “neutral” rating on the stock in a research report on Monday. Canaccord Genuity Group decreased their price objective on shares of Newell Brands from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Monday. Truist Financial raised Newell Brands from a “hold” rating to a “buy” rating and upped their target price for the stock from $10.00 to $17.00 in a research note on Monday, December 9th. Barclays increased their price objective on Newell Brands from $10.00 to $11.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Finally, JPMorgan Chase & Co. increased their price objective on Newell Brands from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Newell Brands has a consensus rating of “Hold” and an average target price of $10.50.

Newell Brands Trading Down 3.0 %

Shares of NASDAQ:NWL traded down $0.22 during mid-day trading on Monday, hitting $6.92. The company had a trading volume of 7,513,965 shares, compared to its average volume of 6,812,382. The firm has a fifty day moving average price of $10.15 and a 200 day moving average price of $8.72. The company has a market capitalization of $2.88 billion, a PE ratio of -11.52, a price-to-earnings-growth ratio of 1.09 and a beta of 0.89. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.99 and a quick ratio of 0.50. Newell Brands has a one year low of $5.39 and a one year high of $11.78.

Newell Brands (NASDAQ:NWL) last posted its quarterly earnings data on Friday, February 7th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. Newell Brands had a negative net margin of 3.22% and a positive return on equity of 10.22%. During the same quarter in the prior year, the business posted $0.22 EPS. As a group, research analysts forecast that Newell Brands will post 0.65 EPS for the current year.

Insiders Place Their Bets

In other news, insider Tracy L. Platt sold 23,343 shares of Newell Brands 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On Newell Brands

Several hedge funds have recently made changes to their positions in the company. Commonwealth Equity Services LLC raised its position in shares of Newell Brands by 5.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 107,633 shares of the company’s stock worth $1,072,000 after acquiring an additional 5,448 shares in the last quarter. Swiss National Bank increased its holdings in shares of Newell Brands by 1.0% in the fourth quarter. Swiss National Bank now owns 818,142 shares of the company’s stock valued at $8,149,000 after purchasing an additional 7,800 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Newell Brands by 6.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 517,578 shares of the company’s stock valued at $5,155,000 after purchasing an additional 29,776 shares during the period. Sequoia Financial Advisors LLC increased its holdings in shares of Newell Brands by 10.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 18,149 shares of the company’s stock valued at $181,000 after purchasing an additional 1,780 shares during the period. Finally, HighTower Advisors LLC increased its holdings in shares of Newell Brands by 31.1% in the fourth quarter. HighTower Advisors LLC now owns 56,998 shares of the company’s stock valued at $568,000 after purchasing an additional 13,510 shares during the period. 92.50% of the stock is currently owned by hedge funds and other institutional investors.

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.