Newell Brands (NASDAQ:NWL) Price Target Cut to $9.00 by Analysts at Royal Bank of Canada

Newell Brands (NASDAQ:NWL) had its price objective lowered by stock analysts at Royal Bank of Canada from $9.50 to $9.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 22.78% from the stock’s previous close.

NWL has been the subject of a number of other reports. Canaccord Genuity Group reduced their price target on shares of Newell Brands from $15.00 to $14.00 and set a “buy” rating for the company in a report on Monday. Wells Fargo & Company reduced their target price on Newell Brands from $11.00 to $9.00 and set an “equal weight” rating for the company in a research note on Monday. JPMorgan Chase & Co. upped their price target on Newell Brands from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. 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 note on Monday, December 9th. Finally, Barclays upped their target price on Newell Brands from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $10.50.

Newell Brands Stock Performance

NWL stock opened at $7.33 on Monday. The firm has a market cap 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. The company has a current ratio of 0.99, a quick ratio of 0.50 and a debt-to-equity ratio of 1.43. The stock has a 50-day moving average price of $10.10 and a 200-day moving average price of $8.72. Newell Brands has a 1-year low of $5.39 and a 1-year high of $11.78.

Newell Brands (NASDAQ:NWL) last issued its earnings results on Friday, February 7th. The company reported $0.16 earnings per share 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 period in the prior year, the company earned $0.22 earnings per share. As a group, equities research analysts expect that Newell Brands will post 0.65 earnings per share for the current year.

Insider Buying and Selling at Newell Brands

In other news, insider Tracy L. Platt sold 23,343 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $10.31, for a total value of $240,666.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.58% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of NWL. Vanguard Group Inc. raised its stake 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 purchasing an additional 1,974,823 shares during the period. Massachusetts Financial Services Co. MA increased its holdings 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 buying an additional 2,634,114 shares during the last quarter. Primecap Management Co. CA raised its position in Newell Brands by 4.8% in the third quarter. Primecap Management Co. CA now owns 14,723,079 shares of the company’s stock worth $113,073,000 after acquiring an additional 674,015 shares during the period. Hennessy Advisors Inc. purchased a new position in Newell Brands in the fourth quarter valued at about $72,431,000. Finally, Victory Capital Management Inc. grew its position 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 valued at $67,637,000 after acquiring an additional 2,066,599 shares during the period. 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.