Newell Brands (NASDAQ:NWL) Share Price Breaks Above 50 Day Moving Average After Analyst Downgrade

Newell Brands Inc. (NASDAQ:NWL)’s stock price crossed above its 50-day moving average during trading on Monday after UBS Group raised their price target on the stock from $5.50 to $5.75. The stock has a 50-day moving average of $5.67 and traded as high as $6.05. UBS Group currently has a neutral rating on the stock. Newell Brands shares last traded at $5.96, with a volume of 16,043,838 shares.

A number of other research analysts have also recently commented on the company. Citigroup decreased their price target on Newell Brands from $6.00 to $5.50 and set a “neutral” rating on the stock in a research note on Monday. Weiss Ratings lowered Newell Brands from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, October 8th. Zacks Research raised Newell Brands from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 2nd. JPMorgan Chase & Co. boosted their price objective on Newell Brands from $5.00 to $7.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Finally, Wall Street Zen raised Newell Brands from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $6.62.

Insider Activity

In related news, insider Bradford Turner sold 100,000 shares of Newell Brands stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $6.16, for a total value of $616,000.00. Following the completion of the transaction, the insider owned 433,398 shares in the company, valued at $2,669,731.68. The trade was a 18.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.64% of the company’s stock.

Hedge Funds Weigh In On Newell Brands

Hedge funds have recently made changes to their positions in the company. AXQ Capital LP acquired a new stake in shares of Newell Brands in the 2nd quarter valued at about $3,851,000. Bank of America Corp DE acquired a new position in Newell Brands during the second quarter worth approximately $6,972,000. Louisiana State Employees Retirement System acquired a new position in Newell Brands during the first quarter worth approximately $638,000. Jupiter Topco LLC acquired a new position in Newell Brands during the second quarter worth approximately $1,162,000. Finally, Hsbc Holdings PLC lifted its stake in Newell Brands by 264.0% in the second quarter. Hsbc Holdings PLC now owns 240,392 shares of the company’s stock valued at $1,447,000 after buying an additional 174,357 shares during the last quarter. Hedge funds and other institutional investors own 92.50% of the company’s stock.

Newell Brands Stock Performance

The company has a debt-to-equity ratio of 1.85, a current ratio of 1.11 and a quick ratio of 0.59. The stock has a 50 day simple moving average of $5.67 and a two-hundred day simple moving average of $4.84. The company has a market cap of $2.54 billion, a PE ratio of -7.74, a PEG ratio of 1.29 and a beta of 0.88.

Newell Brands (NASDAQ:NWL) last issued its quarterly earnings results on Friday, October 30th. The company reported $0.20 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.20. Newell Brands had a negative net margin of 3.05% and a positive return on equity of 12.31%. The firm had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the prior year, the business earned $0.17 EPS. Newell Brands’s quarterly revenue was up 3.7% compared to the same quarter last year. Equities analysts predict that Newell Brands Inc. will post 0.76 EPS for the current year.

Newell Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st were issued a $0.07 dividend. The ex-dividend date of this dividend was Monday, August 31st. This represents a $0.28 dividend on an annualized basis and a yield of 4.7%. Newell Brands’s dividend payout ratio (DPR) is -36.36%.

Newell Brands Company Profile

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.