UBS Group Issues Positive Forecast for Newell Brands (NASDAQ:NWL) Stock Price

Newell Brands (NASDAQ:NWL) had its price objective hoisted by equities research analysts at UBS Group from $9.50 to $10.50 in a research report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s price objective suggests a potential upside of 3.39% from the stock’s previous close.

Other analysts also recently issued research reports about the company. JPMorgan Chase & Co. boosted their price objective on Newell Brands from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Thursday. Canaccord Genuity Group increased their target price on Newell Brands from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Barclays upgraded Newell Brands from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $8.00 to $10.00 in a research note on Wednesday, November 20th. Truist Financial raised Newell Brands from a “hold” rating to a “buy” rating and increased their price objective for the company from $10.00 to $17.00 in a research report on Monday, December 9th. Finally, Wells Fargo & Company boosted their target price on Newell Brands from $9.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 7th. One equities research 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. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $10.60.

Newell Brands Price Performance

Shares of NWL traded up $0.18 during midday trading on Thursday, reaching $10.16. The stock had a trading volume of 5,592,361 shares, compared to its average volume of 5,066,205. The company has a market capitalization of $4.22 billion, a price-to-earnings ratio of -16.93, a price-to-earnings-growth ratio of 0.86 and a beta of 0.89. The company has a current ratio of 0.99, a quick ratio of 0.50 and a debt-to-equity ratio of 1.43. Newell Brands has a 12-month low of $5.39 and a 12-month high of $11.78. The company’s 50-day moving average is $9.88 and its 200 day moving average is $8.26.

Newell Brands (NASDAQ:NWL) last posted its quarterly earnings results on Friday, October 25th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.96 billion. Newell Brands had a negative net margin of 3.22% and a positive return on equity of 10.22%. The company’s revenue was down 2.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.39 earnings per share. On average, equities analysts predict that Newell Brands will post 0.65 EPS for the current fiscal year.

Insider Activity

In related news, insider Bradford R. Turner sold 20,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $8.96, for a total value of $179,200.00. Following the completion of the sale, the insider now directly owns 230,254 shares of the company’s stock, valued at approximately $2,063,075.84. This represents a 7.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 transaction of $240,666.33. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On Newell Brands

Institutional investors have recently bought and sold shares of the business. Quarry LP boosted its stake in shares of Newell Brands by 104.4% in the second quarter. Quarry LP now owns 7,941 shares of the company’s stock worth $51,000 after acquiring an additional 4,056 shares during the period. Venturi Wealth Management LLC purchased a new stake in Newell Brands during the 3rd quarter valued at approximately $70,000. Atomi Financial Group Inc. purchased a new position in shares of Newell Brands in the third quarter worth $79,000. Claro Advisors LLC bought a new position in shares of Newell Brands during the third quarter worth $79,000. Finally, Versant Capital Management Inc grew its stake in Newell Brands by 24.8% during the fourth quarter. Versant Capital Management Inc now owns 8,376 shares of the company’s stock valued at $83,000 after acquiring an additional 1,666 shares in the last quarter. Hedge funds and other 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.