Newell Brands (NYSE:NWL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday. The brokerage currently has a $36.00 price objective on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 15.57% from the company’s current price.

According to Zacks, “Newell Brands is on track to attain its transformation goals through market share gains, point of sale growth, innovation, e-commerce improvement, and cost-savings plans. Further, stringent progress on its Project Renewal Program and Growth Game Plan bode well. This is likely to improve cost savings and accelerate growth by simplifying and strengthening the company’s portfolio. Additionally, Newell’s shareholder-friendly moves and value-added investments should attract investors’ attention. However, the company has lagged the industry in the last three months due to the after-effects of Hurricane Harvey, which weighed on its third-quarter 2017 results. The quarter marked the company’s first earnings miss in more than three years, while sales lagged after two straight beats. Moreover, the company slashed its outlook for 2017. Estimates for the current fiscal have been going up ahead of the fourth quarter earnings.”

Several other research firms have also issued reports on NWL. JPMorgan Chase & Co. lowered shares of Newell Brands from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $56.00 to $63.00 in a research report on Thursday, November 2nd. Oppenheimer restated a “hold” rating and issued a $42.00 price target on shares of Newell Brands in a research report on Tuesday, October 31st. Jefferies Group restated a “hold” rating and issued a $47.00 price target on shares of Newell Brands in a research report on Thursday, October 19th. Barclays restated a “buy” rating and issued a $35.00 price target on shares of Newell Brands in a research report on Wednesday, December 6th. Finally, Raymond James Financial restated a “market perform” rating on shares of Newell Brands in a research report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $45.20.

Newell Brands (NYSE NWL) traded down $0.76 during midday trading on Monday, hitting $31.15. 4,633,724 shares of the company were exchanged, compared to its average volume of 4,312,500. The company has a quick ratio of 0.86, a current ratio of 1.46 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $15,410.00, a price-to-earnings ratio of 12.03, a PEG ratio of 1.22 and a beta of 1.10. Newell Brands has a fifty-two week low of $27.45 and a fifty-two week high of $55.08.

Newell Brands (NYSE:NWL) last posted its quarterly earnings results on Thursday, November 2nd. The company reported $0.86 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.06). The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.71 billion. Newell Brands had a return on equity of 11.52% and a net margin of 8.34%. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.78 EPS. analysts forecast that Newell Brands will post 2.81 EPS for the current year.

Newell Brands declared that its board has approved a share repurchase program on Tuesday, September 26th that permits the company to repurchase $256.00 million in shares. This repurchase authorization permits the company to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

In other news, CEO Michael B. Polk acquired 7,000 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The stock was purchased at an average price of $28.22 per share, with a total value of $197,540.00. Following the purchase, the chief executive officer now owns 616,296 shares of the company’s stock, valued at approximately $17,391,873.12. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.97% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Parkside Investments LLC acquired a new position in Newell Brands in the 3rd quarter worth approximately $107,000. Harfst & Associates Inc. boosted its stake in Newell Brands by 14.4% in the 2nd quarter. Harfst & Associates Inc. now owns 2,502 shares of the company’s stock worth $134,000 after purchasing an additional 315 shares during the period. BB&T Investment Services Inc. acquired a new stake in shares of Newell Brands during the 2nd quarter valued at $143,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Newell Brands by 52.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,164 shares of the company’s stock valued at $169,000 after buying an additional 1,088 shares during the period. Finally, Sun Life Financial INC boosted its stake in shares of Newell Brands by 29,358.3% during the 2nd quarter. Sun Life Financial INC now owns 3,535 shares of the company’s stock valued at $190,000 after buying an additional 3,523 shares during the period. 94.29% of the stock is owned by hedge funds and other institutional investors.

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Newell Brands Company Profile

Newell Brands Inc is a marketer of consumer and commercial products. The Company’s segments include Writing, Home Solutions, Commercial Products, Baby & Parenting, Branded Consumables, Consumer Solutions, Outdoor Solutions and Process Solutions. Its products are marketed under a portfolio of brands, including Paper Mate, Sharpie, Dymo, Expo, Parker, Elmer’s, Coleman, Jostens, Marmot, Rawlings, Mr.

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