Royal Bank of Canada Has Lowered Expectations for Newell Brands (NASDAQ:NWL) Stock Price

Newell Brands (NASDAQ:NWL) had its target price decreased by analysts at Royal Bank of Canada from $9.50 to $9.00 in a report released on Monday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target suggests a potential upside of 22.78% from the company’s current price.

Several other research analysts have also weighed in on NWL. Wells Fargo & Company lowered their price objective on shares of Newell Brands from $11.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Monday. Canaccord Genuity Group lowered their price target on Newell Brands from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Monday. Truist Financial raised Newell Brands from a “hold” rating to a “buy” rating and raised their price objective for the company from $10.00 to $17.00 in a research report on Monday, December 9th. JPMorgan Chase & Co. lifted 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. Finally, Citigroup dropped their price target on Newell Brands from $10.50 to $7.75 and set a “neutral” rating on the stock in a research note on Monday. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $10.50.

Newell Brands Stock Performance

Shares of NASDAQ NWL opened at $7.33 on Monday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.50 and a current ratio of 0.99. The stock has a 50 day moving average price of $10.10 and a 200 day moving average price of $8.72. The stock has a market capitalization of $3.05 billion, a PE ratio of -12.22, a price-to-earnings-growth ratio of 1.09 and a beta of 0.89. Newell Brands has a 52 week low of $5.39 and a 52 week high of $11.78.

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

Insider Activity

In other news, insider Tracy L. Platt sold 23,343 shares of Newell Brands stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $10.31, for a total value of $240,666.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.58% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Newell Brands

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Newell Brands by 4.4% during the 4th quarter. Vanguard Group Inc. now owns 46,892,882 shares of the company’s stock worth $467,053,000 after acquiring an additional 1,974,823 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Newell Brands by 18.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 16,618,316 shares of the company’s stock worth $127,629,000 after purchasing an additional 2,634,114 shares during the last quarter. Primecap Management Co. CA boosted its holdings in shares of Newell Brands by 4.8% in the 3rd quarter. Primecap Management Co. CA now owns 14,723,079 shares of the company’s stock valued at $113,073,000 after purchasing an additional 674,015 shares in the last quarter. Hennessy Advisors Inc. bought a new position in shares of Newell Brands in the 4th quarter valued at $72,431,000. Finally, Victory Capital Management Inc. raised its holdings in shares of Newell Brands by 43.7% during the 4th quarter. Victory Capital Management Inc. now owns 6,790,865 shares of the company’s stock worth $67,637,000 after buying an additional 2,066,599 shares in the last quarter. 92.50% of the stock is owned by institutional investors and hedge funds.

Newell Brands Company Profile

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.