Truist Financial Upgrades Newell Brands (NASDAQ:NWL) to Buy

by · The Cerbat Gem

Truist Financial upgraded shares of Newell Brands (NASDAQ:NWL – Free Report) from a hold rating to a buy rating in a research report report published on Monday, Marketbeat reports. They currently have $17.00 price target on the stock, up from their prior price target of $10.00.

Other research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. cut their price objective on shares of Newell Brands from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, October 11th. Citigroup cut Newell Brands from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 13th. Barclays upgraded Newell Brands from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $8.00 to $10.00 in a research report on Wednesday, November 20th. Wells Fargo & Company boosted their price objective on Newell Brands from $8.00 to $9.00 and gave the company an “equal weight” rating in a research report on Monday, October 28th. Finally, Canaccord Genuity Group increased their target price on Newell Brands from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $10.00.

Get Our Latest Stock Analysis on Newell Brands

Newell Brands Stock Performance

NASDAQ NWL opened at $11.43 on Monday. The firm has a market capitalization of $4.75 billion, a P/E ratio of -19.38, a PEG ratio of 0.95 and a beta of 0.90. The stock has a 50-day simple moving average of $8.73 and a two-hundred day simple moving average of $7.70. 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 fifty-two week low of $5.39 and a fifty-two week high of $11.78.

Newell Brands (NASDAQ:NWL – Get Free Report) last released its quarterly earnings data on Friday, October 25th. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.96 billion. Newell Brands had a positive return on equity of 10.22% and a negative net margin of 3.22%. The business’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.39 EPS. On average, equities analysts forecast that Newell Brands will post 0.66 earnings per share for the current year.

Newell Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.07 per share. The ex-dividend date is Friday, November 29th. This represents a $0.28 annualized dividend and a yield of 2.45%. Newell Brands’s dividend payout ratio (DPR) is presently -46.67%.

Insider Activity

In other Newell Brands news, insider Bradford R. Turner sold 20,000 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $8.96, for a total transaction of $179,200.00. Following the transaction, the insider now owns 230,254 shares of the company’s stock, valued at approximately $2,063,075.84. The trade was a 7.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Tracy L. Platt sold 23,343 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $10.31, for a total value of $240,666.33. The disclosure for this sale can be found here. Company insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On Newell Brands

A number of institutional investors have recently bought and sold shares of NWL. Victory Capital Management Inc. increased its position in shares of Newell Brands by 5,324.8% during the 3rd quarter. Victory Capital Management Inc. now owns 4,724,266 shares of the company’s stock worth $36,282,000 after purchasing an additional 4,637,180 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Newell Brands by 29.2% during the second quarter. Dimensional Fund Advisors LP now owns 11,818,316 shares of the company’s stock valued at $75,753,000 after acquiring an additional 2,668,384 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of 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 valued at $127,629,000 after acquiring an additional 2,634,114 shares during the last quarter. Primecap Management Co. CA raised its stake in shares of Newell Brands by 17.7% in the 2nd quarter. Primecap Management Co. CA now owns 14,049,064 shares of the company’s stock valued at $90,054,000 after acquiring an additional 2,109,892 shares during the period. Finally, AQR Capital Management LLC boosted its position in shares of Newell Brands by 106.7% during the 2nd quarter. AQR Capital Management LLC now owns 2,546,418 shares of the company’s stock worth $16,042,000 after purchasing an additional 1,314,514 shares during the period. 92.50% of the stock is owned by hedge funds and other institutional investors.

Newell Brands Company Profile

(Get Free Report)

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.

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