Newell Brands’ (NWL) “Hold” Rating Reiterated at FIX

Newell Brands (NYSE:NWL)‘s stock had its “hold” rating reaffirmed by research analysts at FIX in a research note issued to investors on Thursday, The Fly reports. They currently have a $23.00 target price on the stock. FIX’s target price would indicate a potential downside of 16.70% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. Deutsche Bank began coverage on Newell Brands in a report on Wednesday, December 13th. They issued a “hold” rating and a $32.00 price objective on the stock. SunTrust Banks reiterated a “buy” rating and issued a $35.00 price objective on shares of Newell Brands in a report on Tuesday, January 30th. ValuEngine cut Newell Brands from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Royal Bank of Canada cut Newell Brands from a “top pick” rating to an “outperform” rating and decreased their price objective for the company from $60.00 to $35.00 in a report on Friday, November 3rd. Finally, BMO Capital Markets decreased their price objective on Newell Brands to $25.00 and set a “market perform” rating on the stock in a report on Friday, January 26th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company. Newell Brands presently has a consensus rating of “Hold” and a consensus target price of $39.06.

Newell Brands (NWL) traded down $0.30 on Thursday, reaching $27.61. The company had a trading volume of 23,208,077 shares, compared to its average volume of 11,810,000. Newell Brands has a 12-month low of $23.85 and a 12-month high of $55.08. The firm has a market capitalization of $13,530.00, a PE ratio of 10.66, a PEG ratio of 1.31 and a beta of 0.89. 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 of Directors has initiated a share repurchase plan on Thursday, November 2nd that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

In other news, CEO Michael B. Polk bought 7,000 shares of the business’s stock in a transaction on Monday, November 20th. The shares were bought at an average price of $28.22 per share, with a total value of $197,540.00. Following the completion of the transaction, the chief executive officer now directly owns 616,296 shares in the company, valued at $17,391,873.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.97% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in NWL. MUFG Americas Holdings Corp raised its position in Newell Brands by 566.7% in the fourth quarter. MUFG Americas Holdings Corp now owns 3,380 shares of the company’s stock valued at $104,000 after purchasing an additional 2,873 shares during the period. Parkside Investments LLC purchased a new stake in shares of Newell Brands during the third quarter worth $107,000. Cerebellum GP LLC purchased a new stake in shares of Newell Brands during the fourth quarter worth $123,000. BB&T Investment Services Inc. purchased a new stake in shares of Newell Brands during the second quarter worth $143,000. Finally, WINTON GROUP Ltd purchased a new stake in shares of Newell Brands during the second quarter worth $202,000. 93.11% of the stock is currently owned by institutional investors.

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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.

The Fly

Analyst Recommendations for Newell Brands (NYSE:NWL)

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