Wells Fargo & Company Increases Newell Brands (NASDAQ:NWL) Price Target to $9.00

Newell Brands (NASDAQ:NWL) had its price objective lifted by equities researchers at Wells Fargo & Company from $6.00 to $9.00 in a research report issued on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 1.01% from the stock’s previous close.

NWL has been the topic of several other reports. JPMorgan Chase & Co. lowered their price objective on Newell Brands from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. Canaccord Genuity Group increased their price objective on Newell Brands from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Citigroup decreased their target price on Newell Brands from $8.00 to $6.25 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Finally, Barclays raised shares of Newell Brands from an “underweight” rating to an “equal weight” rating and set a $8.00 price target on the stock in a report on Tuesday, May 14th. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $8.45.

Newell Brands Price Performance

NWL opened at $8.91 on Monday. The firm has a market cap of $3.70 billion, a PE ratio of -12.44, a P/E/G ratio of 1.61 and a beta of 0.89. The stock has a 50-day moving average price of $6.90 and a 200-day moving average price of $7.47. Newell Brands has a 1 year low of $5.39 and a 1 year high of $11.61. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.98 and a quick ratio of 0.51.

Newell Brands (NASDAQ:NWL) last released its quarterly earnings data on Friday, July 26th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.15. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.05 billion. Newell Brands had a negative net margin of 3.43% and a positive return on equity of 13.04%. Newell Brands’s revenue was down 7.8% compared to the same quarter last year. During the same period last year, the business earned $0.24 EPS. Sell-side analysts predict that Newell Brands will post 0.62 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Newell Brands

A number of hedge funds have recently modified their holdings of NWL. Norges Bank bought a new position in Newell Brands in the 4th quarter worth $32,781,000. Primecap Management Co. CA increased its position in Newell Brands by 35.1% in the fourth quarter. Primecap Management Co. CA now owns 8,511,972 shares of the company’s stock worth $73,884,000 after buying an additional 2,209,672 shares in the last quarter. M&G Plc bought a new position in shares of Newell Brands in the first quarter worth about $9,992,000. Vanguard Group Inc. lifted its position in shares of Newell Brands by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 44,892,843 shares of the company’s stock valued at $389,670,000 after buying an additional 739,295 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of Newell Brands during the 4th quarter valued at approximately $5,843,000. Institutional investors own 92.50% of the company’s stock.

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.