Newell Brands (NASDAQ:NWL) Shares Down 4.6% on Analyst Downgrade

Newell Brands Inc. (NASDAQ:NWL) shares traded down 4.6% during trading on Monday after Citigroup lowered their price target on the stock from $10.50 to $7.75. Citigroup currently has a neutral rating on the stock. Newell Brands traded as low as $6.81 and last traded at $6.81. 2,867,737 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 6,598,353 shares. The stock had previously closed at $7.13.

Several other equities research analysts have also commented on NWL. Truist Financial upgraded Newell Brands from a “hold” rating to a “buy” rating and upped their price objective for the stock from $10.00 to $17.00 in a research note on Monday, December 9th. Canaccord Genuity Group dropped their price objective on shares of Newell Brands from $15.00 to $14.00 and set a “buy” rating for the company in a report on Monday. UBS Group increased their price objective on shares of Newell Brands from $9.50 to $10.50 and gave the company a “neutral” rating in a report on Thursday, January 16th. Barclays increased their price target on shares of Newell Brands from $10.00 to $11.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Finally, Wells Fargo & Company reduced 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 report on Monday. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $10.55.

Insider Transactions at Newell Brands

In other Newell Brands news, insider Tracy L. Platt sold 23,343 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were 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 is available through the SEC website. Corporate insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On Newell Brands

Several institutional investors and hedge funds have recently made changes to their positions in NWL. Hennessy Advisors Inc. purchased a new position in Newell Brands in the 4th quarter valued at $72,431,000. Victory Capital Management Inc. raised its holdings in shares of Newell Brands by 5,324.8% during the 3rd quarter. Victory Capital Management Inc. now owns 4,724,266 shares of the company’s stock worth $36,282,000 after acquiring an additional 4,637,180 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Newell Brands by 18.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 16,618,316 shares of the company’s stock worth $127,629,000 after acquiring an additional 2,634,114 shares during the period. Bank of New York Mellon Corp increased its position in shares of Newell Brands by 36.8% during the 4th quarter. Bank of New York Mellon Corp now owns 4,026,323 shares of the company’s stock worth $40,102,000 after purchasing an additional 1,083,921 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Newell Brands during the 4th quarter worth about $9,877,000. 92.50% of the stock is currently owned by institutional investors and hedge funds.

Newell Brands Stock Down 5.3 %

The business has a 50-day moving average of $10.15 and a 200-day moving average of $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 stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of -11.29, a P/E/G ratio of 1.09 and a beta of 0.89.

Newell Brands (NASDAQ:NWL) last released 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 period in the prior year, the company posted $0.22 earnings per share. On average, sell-side analysts expect that Newell Brands Inc. will post 0.65 EPS for the current year.

Newell Brands Company Profile

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.