Newell Brands (NYSE:NWL) was downgraded by stock analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research report issued to clients and investors on Friday.
A number of other research analysts have also recently commented on the stock. Jefferies Group reissued a “hold” rating and set a $47.00 target price on shares of Newell Brands in a research report on Thursday, October 19th. Citigroup reduced their target price on shares of Newell Brands from $63.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday, November 3rd. ValuEngine cut shares of Newell Brands from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Raymond James Financial reissued a “market perform” rating on shares of Newell Brands in a research report on Friday, November 3rd. Finally, Barclays reissued a “buy” rating and set a $35.00 target price on shares of Newell Brands in a research report on Wednesday, December 6th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $42.73.
Newell Brands (NYSE NWL) opened at $24.81 on Friday. Newell Brands has a 12-month low of $23.85 and a 12-month high of $55.08. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.86 and a current ratio of 1.46. The company has a market cap of $15,305.82, a price-to-earnings ratio of 9.58, a PEG ratio of 1.19 and a beta of 1.10.
Newell Brands announced that its board has initiated a stock 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 purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
In related news, CEO Michael B. Polk purchased 7,000 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The shares were purchased at an average cost of $28.22 per share, with a total value of $197,540.00. Following the completion of the acquisition, the chief executive officer now directly owns 616,296 shares of the company’s stock, valued at approximately $17,391,873.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.97% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Parkside Investments LLC acquired a new stake in Newell Brands in the third quarter valued at $107,000. Cerebellum GP LLC bought a new stake in Newell Brands during the fourth quarter valued at $123,000. BB&T Investment Services Inc. bought a new stake in Newell Brands during the second quarter valued at $143,000. Sun Life Financial INC increased its stake in Newell Brands by 29,358.3% during the second 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. Finally, WINTON GROUP Ltd bought a new stake in Newell Brands during the second quarter valued at $202,000. 93.91% of the stock is currently owned by hedge funds and other institutional investors.
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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.
