Newell Brands Inc. (NWL) Given Average Rating of “Buy” by Analysts
Newell Brands Inc. (NYSE:NWL) has been given a consensus recommendation of “Buy” by the fourteen research firms that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $56.17.
NWL has been the subject of a number of research reports. Royal Bank Of Canada reissued a “top pick” rating and issued a $60.00 price objective on shares of Newell Brands in a research note on Tuesday, August 29th. Jefferies Group LLC reissued a “buy” rating and issued a $66.00 price objective (up previously from $65.00) on shares of Newell Brands in a research note on Thursday, July 6th. Zacks Investment Research lowered Newell Brands from a “hold” rating to a “sell” rating in a report on Tuesday, September 19th. Forward View restated a “buy” rating and issued a $58.00 target price on shares of Newell Brands in a report on Monday, September 11th. Finally, KeyCorp set a $60.00 target price on Newell Brands and gave the company a “buy” rating in a report on Monday, October 16th.
In other news, CEO Michael B. Polk bought 5,000 shares of Newell Brands stock in a transaction on Wednesday, September 13th. The shares were purchased at an average price of $43.61 per share, for a total transaction of $218,050.00. Following the acquisition, the chief executive officer now owns 609,296 shares of the company’s stock, valued at $26,571,398.56. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Scott S. Cowen bought 2,000 shares of Newell Brands stock in a transaction on Monday, September 11th. The shares were purchased at an average price of $43.60 per share, for a total transaction of $87,200.00. Following the acquisition, the director now directly owns 87,883 shares in the company, valued at approximately $3,831,698.80. The disclosure for this purchase can be found here. In the last three months, insiders bought 7,100 shares of company stock valued at $309,715. 0.97% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of NWL. BDO Wealth Advisors LLC purchased a new stake in shares of Newell Brands in the 2nd quarter worth approximately $107,000. Harfst & Associates Inc. grew its stake in shares of Newell Brands by 14.4% in the 2nd quarter. Harfst & Associates Inc. now owns 2,502 shares of the company’s stock worth $134,000 after buying an additional 315 shares during the last quarter. BB&T Investment Services Inc. purchased a new stake in shares of Newell Brands in the 2nd quarter worth approximately $143,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Newell Brands in the 1st quarter worth approximately $156,000. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of Newell Brands by 52.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,164 shares of the company’s stock worth $169,000 after buying an additional 1,088 shares during the last quarter. Institutional investors own 92.35% of the company’s stock.
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Newell Brands (NWL) traded up 0.30% during trading on Thursday, hitting $40.40. The stock had a trading volume of 2,664,262 shares. The firm has a market capitalization of $19.80 billion, a P/E ratio of 16.13 and a beta of 1.15. The stock has a 50 day moving average of $42.60 and a 200 day moving average of $48.94. Newell Brands has a one year low of $39.90 and a one year high of $55.08.
Newell Brands (NYSE:NWL) last released its earnings results on Friday, August 4th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.86 by $0.01. Newell Brands had a return on equity of 11.47% and a net margin of 7.87%. The business had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $3.96 billion. During the same quarter last year, the firm posted $0.78 earnings per share. The firm’s revenue was up 5.1% on a year-over-year basis. Equities research analysts expect that Newell Brands will post $3.00 earnings per share for the current fiscal year.
Newell Brands announced that its board has authorized a share repurchase plan on Tuesday, September 26th that authorizes the company to repurchase $256.00 million in shares. This repurchase authorization authorizes the company to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
About Newell Brands
Newell Brands Inc is a marketer of consumer and commercial products. The Company’s segments include Writing, Home Solutions, Commercial Products, Baby & Parenting, Branded Consumables, Consumer Solutions, Outdoor Solutions and Process Solutions. Its products are marketed under a portfolio of brands, including Paper Mate, Sharpie, Dymo, Expo, Parker, Elmer’s, Coleman, Jostens, Marmot, Rawlings, Mr.
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