Newell Brands (NASDAQ:NWL) Cut to Hold at Zacks Research

Newell Brands (NASDAQ:NWL) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday, Zacks reports.

Other equities analysts also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $6.00 target price on shares of Newell Brands in a research report on Monday, August 3rd. Weiss Ratings upgraded Newell Brands from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Monday. Morgan Stanley reiterated an “underweight” rating and set a $5.75 price target on shares of Newell Brands in a research report on Thursday, August 6th. Barclays increased their price objective on Newell Brands from $5.00 to $7.00 and gave the company an “overweight” rating in a research note on Tuesday, July 21st. Finally, Citigroup decreased their price objective on Newell Brands from $6.00 to $5.50 and set a “neutral” rating on the stock in a report on Monday. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $6.62.

Newell Brands Stock Up 4.1%

NWL opened at $5.86 on Tuesday. Newell Brands has a twelve month low of $3.08 and a twelve month high of $7.13. The company has a quick ratio of 0.67, a current ratio of 1.27 and a debt-to-equity ratio of 2.05. The company has a 50-day moving average price of $5.66 and a 200 day moving average price of $4.86. The company has a market cap of $2.50 billion, a PE ratio of -7.61, a price-to-earnings-growth ratio of 0.79 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, meeting analysts’ consensus estimates of $0.20. Newell Brands had a negative net margin of 4.42% and a positive return on equity of 13.41%. The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period last year, the company posted $0.17 EPS. Newell Brands’s quarterly revenue was up 3.7% compared to the same quarter last year. Sell-side analysts expect that Newell Brands will post 0.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Newell Brands

Institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Newell Brands in the 2nd quarter valued at approximately $436,133,000. Pzena Investment Management LLC purchased a new stake in shares of Newell Brands during the 2nd quarter valued at approximately $294,663,000. Rubric Capital Management LP raised its position in shares of Newell Brands by 17.4% during the 1st quarter. Rubric Capital Management LP now owns 15,257,431 shares of the company’s stock valued at $52,333,000 after buying an additional 2,257,431 shares during the period. Primecap Management Co. CA purchased a new stake in shares of Newell Brands during the 2nd quarter valued at approximately $36,003,000. Finally, Bank of New York Mellon Corp acquired a new position in Newell Brands in the second quarter valued at approximately $15,135,000. 92.50% of the stock is currently owned by institutional investors and hedge funds.

About Newell Brands

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.