Canaccord Genuity Group Cuts Newell Brands (NASDAQ:NWL) Price Target to $14.00

Newell Brands (NASDAQ:NWL) had its price target lowered by Canaccord Genuity Group from $15.00 to $14.00 in a research note released on Monday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

NWL has been the subject of a number of other reports. Barclays lifted their price target on Newell Brands from $10.00 to $11.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. JPMorgan Chase & Co. boosted their target price on Newell Brands from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Wells Fargo & Company upped their price target on Newell Brands from $9.00 to $11.00 and gave the company an “equal weight” rating in a report on Tuesday, January 7th. Truist Financial raised shares of Newell Brands from a “hold” rating to a “buy” rating and raised their price objective for the stock from $10.00 to $17.00 in a report on Monday, December 9th. Finally, UBS Group upped their target price on shares of Newell Brands from $9.50 to $10.50 and gave the company a “neutral” rating in a report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Newell Brands currently has an average rating of “Hold” and an average target price of $10.81.

Newell Brands Stock Performance

Shares of Newell Brands stock opened at $7.09 on Monday. The business has a 50-day simple moving average of $10.05 and a 200-day simple moving average of $8.71. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.50 and a current ratio of 0.99. Newell Brands has a one year low of $5.39 and a one year high of $11.78. The company has a market cap of $2.95 billion, a PE ratio of -11.82, a P/E/G ratio of 1.09 and a beta of 0.89.

Newell Brands (NASDAQ:NWL) last posted its quarterly earnings results on Friday, February 7th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. Newell Brands had a negative net margin of 3.22% and a positive return on equity of 10.22%. During the same quarter in the previous year, the firm posted $0.22 earnings per share. On average, equities research analysts forecast that Newell Brands will post 0.65 EPS for the current fiscal year.

Insider Activity

In other news, insider Tracy L. Platt sold 23,343 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $10.31, for a total transaction of $240,666.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.61% of the company’s stock.

Institutional Trading of Newell Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in NWL. Sanctuary Advisors LLC acquired a new position in shares of Newell Brands in the second quarter valued at approximately $116,000. GAMMA Investing LLC grew its position in Newell Brands by 26.5% in the 3rd quarter. GAMMA Investing LLC now owns 15,002 shares of the company’s stock valued at $115,000 after buying an additional 3,142 shares during the last quarter. Atomi Financial Group Inc. acquired a new position in Newell Brands in the 3rd quarter valued at $79,000. CWM LLC raised its position in Newell Brands by 170.7% during the 3rd quarter. CWM LLC now owns 61,766 shares of the company’s stock worth $474,000 after buying an additional 38,946 shares during the last quarter. Finally, Creative Planning lifted its stake in shares of Newell Brands by 32.7% in the 3rd quarter. Creative Planning now owns 33,963 shares of the company’s stock worth $261,000 after acquiring an additional 8,365 shares during the period. 92.50% of the stock is 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.