Newell Brands (NYSE:NWL) had its target price decreased by research analysts at BMO Capital Markets to $25.00 in a research note issued to investors on Friday, The Fly reports. The brokerage presently has a “market perform” rating on the stock. BMO Capital Markets’ price target would indicate a potential upside of 1.63% from the company’s current price.
A number of other brokerages have also issued reports on NWL. KeyCorp set a $60.00 price target on Newell Brands and gave the company a “buy” rating in a report on Monday, October 16th. Jefferies Group reiterated a “hold” rating and issued a $47.00 price target on shares of Newell Brands in a report on Thursday, October 19th. JPMorgan Chase & Co. lowered Newell Brands from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $56.00 to $63.00 in a report on Thursday, November 2nd. Oppenheimer reiterated a “hold” rating and issued a $42.00 price target on shares of Newell Brands in a report on Tuesday, October 31st. Finally, Zacks Investment Research lowered Newell Brands from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the stock. Newell Brands presently has a consensus rating of “Hold” and an average target price of $42.27.
Shares of Newell Brands (NYSE:NWL) opened at $24.60 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.46 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $15,305.82, a P/E ratio of 9.58, a P/E/G ratio of 1.19 and a beta of 1.10. Newell Brands has a twelve month low of $23.85 and a twelve month high of $55.08.
Newell Brands declared that its Board of Directors has initiated a share repurchase program on Thursday, November 2nd that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.
In other Newell Brands 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 completion of the transaction, the chief executive officer now owns 616,296 shares in the company, valued at approximately $17,391,873.12. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.97% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Parkside Investments LLC acquired a new position in shares of Newell Brands during the third quarter worth $107,000. Cerebellum GP LLC acquired a new position in shares of Newell Brands during the fourth quarter worth $123,000. BB&T Investment Services Inc. acquired a new position in shares of Newell Brands during the second quarter worth $143,000. Sun Life Financial INC increased its position in shares of Newell Brands by 29,358.3% during the second quarter. Sun Life Financial INC now owns 3,535 shares of the company’s stock worth $190,000 after purchasing an additional 3,523 shares in the last quarter. Finally, WINTON GROUP Ltd acquired a new position in shares of Newell Brands during the second quarter worth $202,000. 93.91% of the stock is currently owned by institutional investors and hedge funds.
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.
