Newell Brands (NYSE:NWL) Stock Rating Upgraded by Zacks Investment Research

Newell Brands (NYSE:NWL) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday, Zacks.com reports. The firm presently has a $21.00 price target on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 3.09% from the stock’s previous close.

According to Zacks, “Shares of Newell have outperformed the industry in the past three months, driven by gains from its Transformation Plan. Notably, the company is progressing well with the execution of the Accelerated Transformation Plan through market share gains, innovation, e-commerce and cost savings. Moreover, it delivered better-than-expected earnings and sales in third-quarter 2019. Further, it remains optimistic on progress of its turnaround efforts, with operating cash flow remaining ahead of its plan. Management also decided to retain the Mapa/Spontex and Quickie businesses due to solid prospects. As a result, it raised the outlook for 2019. However, headwinds related to declining core sales and currency remain. Core sales are expected to decline in low-single digits in 2019. Also, management's soft view for the fourth quarter is concerning.”

Several other research firms have also recently issued reports on NWL. Wells Fargo & Co reaffirmed a “buy” rating on shares of Newell Brands in a report on Wednesday, July 31st. Deutsche Bank cut their price target on shares of Newell Brands from $18.00 to $16.00 and set a “hold” rating on the stock in a report on Monday, August 5th. SunTrust Banks raised shares of Newell Brands from a “hold” rating to a “buy” rating and upped their price target for the company from $15.00 to $25.00 in a report on Monday, September 30th. Barclays reaffirmed a “hold” rating on shares of Newell Brands in a report on Wednesday, August 7th. Finally, TheStreet raised shares of Newell Brands from a “d” rating to a “c-” rating in a report on Friday, November 1st. Six investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $19.78.

Shares of NWL stock traded up $0.33 on Wednesday, hitting $20.37. The stock had a trading volume of 3,583,678 shares, compared to its average volume of 5,686,265. The firm has a market capitalization of $8.46 billion, a price-to-earnings ratio of 7.41, a P/E/G ratio of 3.82 and a beta of 0.90. The stock’s 50 day moving average is $19.07 and its 200-day moving average is $16.30. The company has a debt-to-equity ratio of 1.54, a quick ratio of 2.53 and a current ratio of 2.98. Newell Brands has a 52-week low of $13.04 and a 52-week high of $24.57.

Newell Brands (NYSE:NWL) last announced its earnings results on Friday, November 1st. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.17. The business had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.38 billion. Newell Brands had a negative net margin of 46.92% and a positive return on equity of 9.55%. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.81 earnings per share. Equities analysts expect that Newell Brands will post 1.22 earnings per share for the current year.

In other Newell Brands news, Director Michael Todman bought 5,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were bought at an average cost of $15.76 per share, with a total value of $78,800.00. Following the completion of the acquisition, the director now owns 72,184 shares of the company’s stock, valued at $1,137,619.84. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.97% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of the business. Advisory Services Network LLC increased its holdings in shares of Newell Brands by 27.3% in the 2nd quarter. Advisory Services Network LLC now owns 68,301 shares of the company’s stock worth $1,053,000 after acquiring an additional 14,666 shares during the period. OneAscent Financial Services LLC acquired a new stake in shares of Newell Brands in the 2nd quarter worth about $162,000. D.A. Davidson & CO. grew its position in Newell Brands by 36.4% in the 2nd quarter. D.A. Davidson & CO. now owns 25,945 shares of the company’s stock valued at $400,000 after buying an additional 6,917 shares in the last quarter. Atria Investments LLC grew its position in Newell Brands by 3,504.9% in the 2nd quarter. Atria Investments LLC now owns 480,828 shares of the company’s stock valued at $4,621,000 after buying an additional 467,490 shares in the last quarter. Finally, Capital Fund Management S.A. grew its position in Newell Brands by 451.6% in the 2nd quarter. Capital Fund Management S.A. now owns 607,170 shares of the company’s stock valued at $9,363,000 after buying an additional 497,100 shares in the last quarter. 98.42% of the stock is currently owned by institutional investors.

Newell Brands Company Profile

Newell Brands Inc designs, manufactures, sources, and distributes consumer and commercial products worldwide. The company's Live segment offers household products, including kitchen appliances, gourmet cookware, bakeware and cutlery, food storage and home storage products, fresh preserving products, and home fragrance products; and baby gear, infant care, and health products primarily under Aprica, Baby Jogger, Ball, Calphalon, Chesapeake Bay Candle, Crock-Pot, FoodSaver, Graco, Mr.

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