Citigroup Has Lowered Expectations for Newell Brands (NASDAQ:NWL) Stock Price

Newell Brands (NASDAQ:NWL) had its price objective decreased by equities research analysts at Citigroup from $10.50 to $7.75 in a research report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s target price would suggest a potential upside of 5.73% from the company’s current price.

Other research analysts have also recently issued reports about the stock. Barclays boosted their price objective on shares of Newell Brands from $10.00 to $11.00 and gave the company an “overweight” rating in a report on Friday, January 17th. UBS Group boosted their target price on shares of Newell Brands from $9.50 to $10.50 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Truist Financial upgraded Newell Brands from a “hold” rating to a “buy” rating and raised their price target for the stock from $10.00 to $17.00 in a research note on Monday, December 9th. JPMorgan Chase & Co. upped their price objective on Newell Brands from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Finally, Wells Fargo & Company dropped their target price on Newell Brands from $11.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Monday. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $10.50.

Newell Brands Price Performance

Shares of NASDAQ NWL opened at $7.33 on Monday. The company has a 50 day moving average of $10.10 and a 200 day moving average of $8.72. The company has a quick ratio of 0.50, a current ratio of 0.99 and a debt-to-equity ratio of 1.43. Newell Brands has a twelve month low of $5.39 and a twelve month high of $11.78. The firm has a market cap of $3.05 billion, a P/E ratio of -12.22, a PEG ratio of 1.09 and a beta of 0.89.

Newell Brands (NASDAQ:NWL) last released its quarterly earnings data on Friday, February 7th. The company reported $0.16 EPS for the quarter, beating the consensus estimate 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 firm earned $0.22 EPS. As a group, research analysts expect that Newell Brands will post 0.65 EPS for the current fiscal year.

Insider Transactions at Newell Brands

In other news, insider Tracy L. Platt sold 23,343 shares of the firm’s stock in a transaction on 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 SEC, which is available through this hyperlink. Corporate insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On Newell Brands

A number of institutional investors have recently bought and sold shares of the business. Hennessy Advisors Inc. bought a new stake in shares of Newell Brands during the fourth quarter valued at approximately $72,431,000. Victory Capital Management Inc. grew its stake in Newell Brands by 5,324.8% during the third quarter. Victory Capital Management Inc. now owns 4,724,266 shares of the company’s stock valued at $36,282,000 after acquiring an additional 4,637,180 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Newell Brands by 18.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 16,618,316 shares of the company’s stock valued at $127,629,000 after acquiring an additional 2,634,114 shares during the last quarter. Vanguard Group Inc. lifted its stake in Newell Brands by 4.4% in 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 in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Newell Brands by 36.8% during the 4th quarter. Bank of New York Mellon Corp now owns 4,026,323 shares of the company’s stock valued at $40,102,000 after purchasing an additional 1,083,921 shares during the last quarter. Hedge funds and other institutional investors own 92.50% of the company’s stock.

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.