Newell Rubbermaid’s (NWL) Buy Rating Reiterated at Jefferies Group
Newell Rubbermaid Inc. (NYSE:NWL)‘s stock had its “buy” rating restated by equities research analysts at Jefferies Group in a research report issued on Tuesday. They currently have a $66.00 price target on the stock. Jefferies Group’s target price indicates a potential upside of 25.93% from the company’s current price.
A number of other brokerages also recently weighed in on NWL. Deutsche Bank AG lifted their price target on Newell Rubbermaid from $52.00 to $60.00 and gave the company a “buy” rating in a report on Monday, August 1st. Zacks Investment Research downgraded Newell Rubbermaid from a “buy” rating to a “hold” rating in a report on Monday, July 25th. Citigroup Inc. reiterated a “buy” rating and set a $61.00 price target on shares of Newell Rubbermaid in a report on Tuesday, August 2nd. B. Riley reiterated a “buy” rating and set a $60.00 price target on shares of Newell Rubbermaid in a report on Monday, October 10th. Finally, Bank of America Corp. set a $60.00 price target on Newell Rubbermaid and gave the company a “buy” rating in a report on Tuesday, October 4th. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $57.50.
Shares of Newell Rubbermaid (NYSE:NWL) traded up 0.620% during midday trading on Tuesday, hitting $52.735. The company had a trading volume of 1,712,732 shares. The company’s 50 day moving average is $52.02 and its 200 day moving average is $49.43. Newell Rubbermaid has a one year low of $33.26 and a one year high of $55.45. The firm has a market cap of $25.43 billion, a price-to-earnings ratio of 51.149 and a beta of 1.18.
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Newell Rubbermaid (NYSE:NWL) last issued its earnings results on Friday, July 29th. The company reported $0.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.06. The business had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.76 billion. Newell Rubbermaid had a return on equity of 18.55% and a net margin of 3.91%. The company’s quarterly revenue was up 147.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.64 EPS. Equities analysts forecast that Newell Rubbermaid will post $2.88 earnings per share for the current fiscal year.
Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Newell Rubbermaid by 82.8% in the second quarter. Vanguard Group Inc. now owns 41,447,370 shares of the company’s stock worth $2,013,099,000 after buying an additional 18,777,228 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Newell Rubbermaid by 522.7% in the second quarter. JPMorgan Chase & Co. now owns 10,063,286 shares of the company’s stock valued at $488,773,000 after buying an additional 8,447,137 shares in the last quarter. State Street Corp boosted its position in Newell Rubbermaid by 62.7% in the second quarter. State Street Corp now owns 17,186,871 shares of the company’s stock valued at $834,765,000 after buying an additional 6,623,143 shares in the last quarter. FMR LLC boosted its position in Newell Rubbermaid by 68.1% in the second quarter. FMR LLC now owns 11,131,628 shares of the company’s stock valued at $540,663,000 after buying an additional 4,508,366 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in Newell Rubbermaid by 64.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 11,472,555 shares of the company’s stock valued at $557,222,000 after buying an additional 4,478,591 shares in the last quarter. 93.12% of the stock is owned by institutional investors.
About Newell Rubbermaid
Newell Brands Inc, formerly Newell Rubbermaid Inc, is a global consumer goods company. The Company’s brands consists of Paper Mate, Sharpie, Dymo, EXPO, Parker, Elmer’s, Coleman, Jostens, Marmot, Rawlings, Irwin, Lenox, Oster, Sunbeam, FoodSaver, Mr. Coffee, Rubbermaid Commercial Products, Graco, Baby Jogger, NUK, Calphalon, Rubbermaid, Contigo, First Alert, Waddington and Yankee Candle.
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