Canaccord Genuity Group Issues Pessimistic Forecast for Newell Brands (NASDAQ:NWL) Stock Price

Newell Brands (NASDAQ:NWL) had its target price reduced by Canaccord Genuity Group from $15.00 to $14.00 in a report published on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also issued reports about the stock. Wells Fargo & Company boosted their price objective on shares of Newell Brands from $9.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 7th. Barclays lifted their target price on shares of Newell Brands from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. UBS Group increased their price target on shares of Newell Brands from $9.50 to $10.50 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Truist Financial upgraded Newell Brands from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $10.00 to $17.00 in a research report on Monday, December 9th. Finally, JPMorgan Chase & Co. increased their target price on Newell Brands from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $10.81.

Newell Brands Trading Down 3.3 %

NASDAQ:NWL opened at $7.09 on Monday. Newell Brands has a 1 year low of $5.39 and a 1 year high of $11.78. 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 fifty day moving average price of $10.05 and a two-hundred day moving average price of $8.71. The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of -11.82, a PEG ratio of 1.09 and a beta of 0.89.

Newell Brands (NASDAQ:NWL) last announced 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 positive return on equity of 10.22% and a negative net margin of 3.22%. During the same quarter last year, the business posted $0.22 EPS. As a group, sell-side analysts anticipate that Newell Brands will post 0.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Newell Brands

In other Newell Brands news, insider Tracy L. Platt sold 23,343 shares of Newell Brands stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.61% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Savoir Faire Capital Management L.P. increased its position in Newell Brands by 14.1% during the fourth quarter. Savoir Faire Capital Management L.P. now owns 288,210 shares of the company’s stock worth $2,871,000 after purchasing an additional 35,714 shares during the last quarter. Atlas Capital Advisors Inc. purchased a new stake in shares of Newell Brands during the 4th quarter valued at $483,000. Trexquant Investment LP increased its holdings in shares of Newell Brands by 84.9% during the 4th quarter. Trexquant Investment LP now owns 1,463,392 shares of the company’s stock worth $14,575,000 after buying an additional 671,884 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Newell Brands by 4.6% in the 4th quarter. Geode Capital Management LLC now owns 6,938,654 shares of the company’s stock worth $69,132,000 after buying an additional 303,371 shares during the period. Finally, National Bank of Canada FI boosted its holdings in Newell Brands by 8,655.2% in the fourth quarter. National Bank of Canada FI now owns 204,871 shares of the company’s stock valued at $2,041,000 after acquiring an additional 202,531 shares during the last quarter. 92.50% of the stock is currently 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.