Newell Brands (NASDAQ:NWL) Stock Price Target Lowered at Citigroup

Newell Brands (NASDAQ:NWL) had its price target reduced by research analysts at Citigroup from $6.00 to $5.50 in a report released on Monday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup‘s price objective suggests a potential downside of 7.16% from the stock’s current price.

NWL has been the subject of a number of other research reports. Weiss Ratings cut Newell Brands from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, October 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $6.00 price target on shares of Newell Brands in a research note on Monday, August 3rd. Wall Street Zen upgraded Newell Brands from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 17th. UBS Group reissued a “neutral” rating on shares of Newell Brands in a research note on Thursday, October 22nd. Finally, Royal Bank Of Canada boosted their price objective on shares of Newell Brands from $4.00 to $5.00 and gave the company a “sector perform” rating in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Newell Brands currently has a consensus rating of “Hold” and an average target price of $6.59.

Newell Brands Stock Up 14.4%

Shares of NWL traded up $0.74 on Monday, reaching $5.92. The stock had a trading volume of 8,697,738 shares, compared to its average volume of 7,601,656. Newell Brands has a 12-month low of $3.07 and a 12-month high of $7.13. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.67 and a current ratio of 1.27. The company has a 50-day simple moving average of $5.68 and a 200-day simple moving average of $4.83. The firm has a market capitalization of $2.52 billion, a price-to-earnings ratio of -7.71, a price-to-earnings-growth ratio of 1.29 and a beta of 0.88.

Newell Brands (NASDAQ:NWL) last released its earnings results on Friday, October 30th. The company reported $0.20 EPS for the quarter, hitting analysts’ consensus estimates of $0.20. Newell Brands had a positive return on equity of 13.41% and a negative net margin of 4.42%. The firm had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the prior year, the firm posted $0.17 earnings per share. The company’s quarterly revenue was up 3.7% on a year-over-year basis. Sell-side analysts predict that Newell Brands will post 0.76 EPS for the current year.

Insider Buying and Selling at Newell Brands

In related news, insider Bradford Turner sold 100,000 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $6.16, for a total transaction of $616,000.00. Following the sale, the insider owned 433,398 shares of the company’s stock, valued at $2,669,731.68. This trade represents a 18.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.64% of the stock is owned by company insiders.

Institutional Trading of Newell Brands

A number of institutional investors have recently modified their holdings of NWL. BlackRock Inc. purchased a new position in shares of Newell Brands in the 2nd quarter worth approximately $436,133,000. Pzena Investment Management LLC purchased a new position in Newell Brands in the second quarter worth $294,663,000. Rubric Capital Management LP grew its holdings in Newell Brands by 17.4% in the first quarter. Rubric Capital Management LP now owns 15,257,431 shares of the company’s stock worth $52,333,000 after purchasing an additional 2,257,431 shares during the last quarter. Primecap Management Co. CA acquired a new position in shares of Newell Brands during the second quarter worth $36,003,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Newell Brands during the second quarter worth $15,135,000. 92.50% of the stock is currently owned by institutional investors.

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.