Newell Brands (NYSE:NWL) was downgraded by research analysts at Barclays from an “overweight” rating to an “equal weight” rating in a report issued on Thursday, The Fly reports. They presently have a $26.00 target price on the stock, down from their previous target price of $35.00. Barclays’ price target suggests a potential downside of 16.75% from the stock’s previous close.
NWL has been the topic of a number of other reports. Morgan Stanley lowered their price target on shares of Newell Brands from $54.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday, November 3rd. TheStreet lowered shares of Newell Brands from a “b-” rating to a “c+” rating in a report on Tuesday, November 14th. Zacks Investment Research upgraded shares of Newell Brands from a “sell” rating to a “hold” rating and set a $36.00 target price on the stock in a report on Monday, January 8th. ValuEngine lowered shares of Newell Brands from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Finally, Forward View reiterated a “buy” rating and issued a $35.00 target price on shares of Newell Brands in a report on Sunday, November 5th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $44.60.
Newell Brands (NWL) traded down $0.42 on Thursday, reaching $31.23. 5,255,100 shares of the company were exchanged, compared to its average volume of 4,517,581. The firm has a market capitalization of $11,850.00, a price-to-earnings ratio of 12.06, a PEG ratio of 1.21 and a beta of 1.10. Newell Brands has a 52-week low of $27.45 and a 52-week high of $55.08. 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 announced that its board has initiated a share repurchase plan on Thursday, November 2nd that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
In related news, CEO Michael B. Polk purchased 7,000 shares of Newell Brands stock in a transaction dated Monday, November 20th. The shares were acquired at an average cost of $28.22 per share, with a total value of $197,540.00. Following the purchase, the chief executive officer now owns 616,296 shares of the company’s stock, valued at $17,391,873.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.97% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Parkside Investments LLC purchased a new stake in shares of Newell Brands in the 3rd quarter valued at approximately $107,000. BB&T Investment Services Inc. purchased a new stake in shares of Newell Brands in the 2nd quarter valued at approximately $143,000. Sun Life Financial INC increased its position in shares of Newell Brands by 29,358.3% in the 2nd quarter. Sun Life Financial INC now owns 3,535 shares of the company’s stock valued at $190,000 after purchasing an additional 3,523 shares during the last quarter. WINTON GROUP Ltd purchased a new stake in shares of Newell Brands in the 2nd quarter valued at approximately $202,000. Finally, Glovista Investments LLC purchased a new stake in shares of Newell Brands in the 2nd quarter valued at approximately $211,000. 93.91% of the stock is currently owned by hedge funds and other institutional investors.
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.
