Citigroup Increases Newell Brands (NASDAQ:NWL) Price Target to $8.00

Newell Brands (NASDAQ:NWL) had its target price raised by equities researchers at Citigroup from $7.50 to $8.00 in a report released on Monday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s target price indicates a potential downside of 0.62% from the company’s previous close.

A number of other research firms have also recently weighed in on NWL. 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, February 12th. Raymond James cut Newell Brands from an “outperform” rating to a “market perform” rating in a report on Monday, February 12th. Morgan Stanley reduced their price target on Newell Brands from $8.50 to $7.75 and set an “equal weight” rating for the company in a report on Monday, February 12th. Barclays upped their price target on Newell Brands from $5.00 to $6.00 and gave the stock an “underweight” rating in a report on Tuesday, January 16th. Finally, JPMorgan Chase & Co. upped their price target on Newell Brands from $7.00 to $9.00 and gave the stock a “neutral” rating in a report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $8.58.

Newell Brands Stock Performance

Shares of NWL stock traded up $0.26 on Monday, hitting $8.05. The company had a trading volume of 2,493,285 shares, compared to its average volume of 5,071,663. The firm has a market cap of $3.34 billion, a P/E ratio of -11.14, a price-to-earnings-growth ratio of 1.54 and a beta of 0.95. The company has a 50-day moving average price of $7.49 and a 200-day moving average price of $7.74. The company has a quick ratio of 0.58, a current ratio of 1.15 and a debt-to-equity ratio of 1.48. Newell Brands has a twelve month low of $6.49 and a twelve month high of $12.02.

Newell Brands (NASDAQ:NWL) last issued its quarterly earnings data on Friday, April 26th. The company reported ($0.07) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.07). The business had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Newell Brands had a positive return on equity of 11.21% and a negative net margin of 3.70%. The company’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.06) EPS. As a group, equities research analysts predict that Newell Brands will post 0.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Newell Brands

Large investors have recently made changes to their positions in the stock. Quarry LP grew its position in shares of Newell Brands by 106.2% in the fourth quarter. Quarry LP now owns 4,731 shares of the company’s stock valued at $41,000 after purchasing an additional 2,437 shares in the last quarter. NBC Securities Inc. grew its position in shares of Newell Brands by 50.5% in the first quarter. NBC Securities Inc. now owns 5,302 shares of the company’s stock valued at $42,000 after purchasing an additional 1,780 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Newell Brands in the fourth quarter valued at approximately $45,000. Authentikos Wealth Advisory LLC purchased a new stake in shares of Newell Brands in the third quarter valued at approximately $51,000. Finally, GAMMA Investing LLC purchased a new stake in shares of Newell Brands in the fourth quarter valued at approximately $61,000. 92.50% of the stock is currently owned by hedge funds and other institutional investors.

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.