Newell Brands (NYSE:NWL) had its price target cut by BMO Capital Markets to $25.00 in a research report report published on Friday, January 26th. They currently have a market perform rating on the stock.
Other equities analysts have also issued reports about the company. Deutsche Bank began coverage on Newell Brands in a research report on Wednesday, December 13th. They issued a hold rating and a $32.00 price objective for the company. Royal Bank of Canada lowered 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 research report on Friday, November 3rd. ValuEngine downgraded Newell Brands from a buy rating to a hold rating in a research report on Sunday, December 31st. KeyCorp set a $60.00 price target on Newell Brands and gave the stock a buy rating in a research report on Monday, October 16th. Finally, Citigroup reduced their price target on Newell Brands from $63.00 to $42.00 and set a buy rating for the company in a research report on Friday, November 3rd. Two equities 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 has a consensus rating of Hold and an average target price of $39.18.
Newell Brands (NYSE NWL) opened at $27.30 on Friday. The company has a current ratio of 1.46, a quick ratio of 0.86 and a debt-to-equity ratio of 0.80. Newell Brands has a 12-month low of $23.85 and a 12-month high of $55.08. The stock has a market capitalization of $13,531.66, a PE ratio of 9.62, a PEG ratio of 1.31 and a beta of 0.90.
Newell Brands announced that its board has authorized a share repurchase plan on Thursday, November 2nd that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
In other Newell Brands news, CEO Michael B. Polk purchased 7,000 shares of the company’s 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 purchase, the chief executive officer now owns 616,296 shares in the company, valued at $17,391,873.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.97% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the business. Parkside Investments LLC bought a new position in Newell Brands during the 3rd quarter worth $107,000. BB&T Investment Services Inc. bought a new position in Newell Brands during the 2nd quarter worth $143,000. MUFG Americas Holdings Corp increased its position in Newell Brands by 566.7% during the 4th quarter. MUFG Americas Holdings Corp now owns 3,380 shares of the company’s stock worth $104,000 after buying an additional 2,873 shares during the period. Sun Life Financial INC increased its position in Newell Brands by 29,358.3% during the 2nd quarter. Sun Life Financial INC now owns 3,535 shares of the company’s stock worth $190,000 after buying an additional 3,523 shares during the period. Finally, WINTON GROUP Ltd bought a new position in Newell Brands during the 2nd quarter worth $202,000. Hedge funds and other institutional investors own 91.23% of the company’s stock.
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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.
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