Barclays Reaffirms Buy Rating for Newell Brands (NWL)
Newell Brands (NYSE:NWL)‘s stock had its “buy” rating reaffirmed by equities research analysts at Barclays in a report issued on Wednesday. They currently have a $35.00 price objective on the stock. Barclays’ price target would suggest a potential upside of 10.13% from the stock’s current price.
Several other equities research analysts have also issued reports on NWL. BidaskClub lowered shares of Newell Brands from a “sell” rating to a “strong sell” rating in a report on Thursday, August 24th. Royal Bank Of Canada reiterated a “top pick” rating and set a $60.00 price objective on shares of Newell Brands in a report on Tuesday, August 29th. Oppenheimer reiterated a “hold” rating and set a $50.00 price objective on shares of Newell Brands in a report on Wednesday, September 6th. Jefferies Group decreased their price objective on shares of Newell Brands from $65.00 to $63.00 and set a “buy” rating for the company in a report on Thursday, September 7th. They noted that the move was a valuation call. Finally, Forward View reiterated a “buy” rating and set a $58.00 price objective on shares of Newell Brands in a report on Monday, September 11th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $47.79.
Newell Brands (NWL) traded down $0.03 during trading on Wednesday, hitting $31.78. 6,587,200 shares of the stock traded hands, compared to its average volume of 4,774,556. The company has a market cap of $15,590.08, a price-to-earnings ratio of 11.08, a PEG ratio of 1.28 and a beta of 1.10. The company has a quick ratio of 0.86, a current ratio of 1.46 and a debt-to-equity ratio of 0.80. Newell Brands has a 12-month low of $27.45 and a 12-month high of $55.08.
Newell Brands announced that its board has approved a stock repurchase plan on Tuesday, September 26th that allows the company to repurchase $256.00 million in shares. This repurchase authorization allows the company to buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
In other Newell Brands news, Director Scott S. Cowen purchased 2,000 shares of Newell Brands stock in a transaction dated Monday, September 11th. The stock was acquired at an average price of $43.60 per share, for a total transaction of $87,200.00. Following the acquisition, the director now owns 87,883 shares in the company, valued at approximately $3,831,698.80. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael B. Polk purchased 5,000 shares of Newell Brands stock in a transaction dated Wednesday, September 13th. The stock was acquired at an average price of $43.61 per share, with a total value of $218,050.00. Following the acquisition, the chief executive officer now owns 609,296 shares in the company, valued at approximately $26,571,398.56. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 14,100 shares of company stock valued at $507,255. Company insiders own 0.97% of the company’s stock.
Several large investors have recently bought and sold shares of NWL. BDO Wealth Advisors LLC purchased a new position in shares of Newell Brands in the 2nd quarter worth approximately $107,000. Parkside Investments LLC purchased a new position in shares of Newell Brands in the 3rd quarter worth approximately $107,000. Harfst & Associates Inc. grew its position 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 position in shares of Newell Brands in the 2nd quarter worth approximately $143,000. Finally, Northwestern Mutual Wealth Management Co. grew its position 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 and hedge funds own 94.40% of the company’s stock.
Newell Brands Company Profile
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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