Newell Brands (NWL) Price Target Raised to $27.00

Newell Brands (NYSE:NWL) had its price target boosted by analysts at Morgan Stanley from $25.00 to $27.00 in a research report issued to clients and investors on Monday. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price target would indicate a potential downside of 0.95% from the company’s current price.

NWL has been the subject of several other reports. Raymond James Financial reaffirmed a “market perform” rating on shares of Newell Brands in a report on Friday, November 3rd. Jefferies Group reissued a “hold” rating and set a $47.00 price target on shares of Newell Brands in a report on Thursday, October 19th. Forward View reissued a “buy” rating and set a $35.00 price target on shares of Newell Brands in a report on Sunday, November 5th. Zacks Investment Research cut Newell Brands from a “hold” rating to a “sell” rating in a report on Monday, January 29th. Finally, Barclays reissued a “buy” rating and set a $35.00 price target on shares of Newell Brands in a report on Wednesday, December 6th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the stock. Newell Brands currently has a consensus rating of “Hold” and an average price target of $39.18.

Shares of Newell Brands (NYSE:NWL) traded down $0.35 during midday trading on Monday, reaching $27.26. The company’s stock had a trading volume of 4,876,237 shares, compared to its average volume of 12,174,256. The firm has a market cap of $13,531.66, a PE ratio of 10.54, a PEG ratio of 1.31 and a beta of 0.90. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.46 and a quick ratio of 0.86. Newell Brands has a 52-week low of $23.85 and a 52-week high of $55.08.

Newell Brands announced that its Board of Directors has authorized a share repurchase program on Thursday, November 2nd that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

In other news, CEO Michael B. Polk acquired 7,000 shares of Newell Brands stock in a transaction that occurred on Monday, November 20th. The shares were acquired at an average price of $28.22 per share, for a total transaction of $197,540.00. Following the transaction, the chief executive officer now directly owns 616,296 shares of the company’s stock, valued at approximately $17,391,873.12. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.97% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. American Century Companies Inc. grew its position in Newell Brands by 2.9% during the 3rd quarter. American Century Companies Inc. now owns 7,946,423 shares of the company’s stock worth $339,074,000 after acquiring an additional 225,484 shares during the last quarter. UBS Asset Management Americas Inc. grew its position in shares of Newell Brands by 7.3% in the 4th quarter. UBS Asset Management Americas Inc. now owns 4,361,072 shares of the company’s stock valued at $134,757,000 after buying an additional 296,965 shares during the last quarter. First Manhattan Co. grew its position in shares of Newell Brands by 12.1% in the 3rd quarter. First Manhattan Co. now owns 3,649,938 shares of the company’s stock valued at $155,742,000 after buying an additional 394,123 shares during the last quarter. King Luther Capital Management Corp grew its position in shares of Newell Brands by 7.0% in the 3rd quarter. King Luther Capital Management Corp now owns 3,427,042 shares of the company’s stock valued at $146,232,000 after buying an additional 224,036 shares during the last quarter. Finally, Lord Abbett & CO. LLC grew its position in shares of Newell Brands by 57.4% in the 2nd quarter. Lord Abbett & CO. LLC now owns 3,200,022 shares of the company’s stock valued at $171,585,000 after buying an additional 1,167,393 shares during the last quarter. Institutional investors and hedge funds own 91.23% of the company’s stock.

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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.

Analyst Recommendations for Newell Brands (NYSE:NWL)

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