Newell Brands (NASDAQ:NWL – Get Free Report) had its target price cut by research analysts at Morgan Stanley from $8.50 to $7.75 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 6.31% from the company’s previous close.
Several other research analysts have also recently weighed in on the stock. Raymond James cut shares of Newell Brands from an “outperform” rating to a “market perform” rating in a research report on Monday. JPMorgan Chase & Co. increased their price target on shares of Newell Brands from $7.00 to $9.00 and gave the company a “neutral” rating in a research report on Tuesday, January 9th. TheStreet downgraded Newell Brands from a “c-” rating to a “d” rating in a report on Friday, October 27th. StockNews.com upgraded Newell Brands from a “sell” rating to a “hold” rating in a report on Friday, December 15th. Finally, Royal Bank of Canada reduced their price target on Newell Brands from $9.00 to $7.50 and set a “sector perform” rating for the company in a report on Monday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $9.28.
Newell Brands Price Performance
Newell Brands (NASDAQ:NWL – Get Free Report) last posted its quarterly earnings data on Friday, February 9th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.05. The company had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Newell Brands had a negative net margin of 4.77% and a positive return on equity of 10.24%. Newell Brands’s revenue for the quarter was down 8.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.16 earnings per share. As a group, sell-side analysts predict that Newell Brands will post 0.57 EPS for the current fiscal year.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the stock. Fairfield Bush & CO. bought a new position in shares of Newell Brands during the 1st quarter valued at approximately $26,000. Versant Capital Management Inc increased its position in shares of Newell Brands by 1,935.1% during the 3rd quarter. Versant Capital Management Inc now owns 2,727 shares of the company’s stock valued at $25,000 after purchasing an additional 2,593 shares during the last quarter. Avior Wealth Management LLC bought a new position in shares of Newell Brands during the 3rd quarter valued at approximately $25,000. Geneos Wealth Management Inc. increased its position in shares of Newell Brands by 233.2% during the 2nd quarter. Geneos Wealth Management Inc. now owns 2,849 shares of the company’s stock valued at $25,000 after purchasing an additional 1,994 shares during the last quarter. Finally, Resources Management Corp CT ADV boosted its holdings in Newell Brands by 6,000.0% during the 2nd quarter. Resources Management Corp CT ADV now owns 3,050 shares of the company’s stock valued at $27,000 after acquiring an additional 3,000 shares during the period. 91.53% of the stock is owned by hedge funds and other institutional investors.
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 five segments: Commercial Solutions, Home Appliances, Home Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment provides commercial cleaning and maintenance solutions; closet and garage organization products; hygiene systems and material handling solutions; and connected home and security products under the Mapa, Quickie, Rubbermaid, Rubbermaid Commercial Products, and Spontex brands.
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