Newell Brands (NASDAQ:NWL) Price Target Cut to $6.25 by Analysts at Citigroup

Newell Brands (NASDAQ:NWL) had its price objective decreased by investment analysts at Citigroup from $8.00 to $6.25 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s target price points to a potential upside of 2.80% from the company’s current price.

NWL has been the topic of several other research reports. Wells Fargo & Company lowered their target price on shares of Newell Brands from $8.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Barclays raised shares of Newell Brands from an “underweight” rating to an “equal weight” rating and set a $8.00 price target on the stock in a research report on Tuesday, May 14th. Finally, Canaccord Genuity Group boosted their price target on shares of Newell Brands from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Newell Brands presently has an average rating of “Hold” and a consensus target price of $8.36.

Newell Brands Trading Up 6.1 %

Shares of NWL opened at $6.08 on Wednesday. Newell Brands has a 52-week low of $5.39 and a 52-week high of $11.61. The company has a quick ratio of 0.58, a current ratio of 1.15 and a debt-to-equity ratio of 1.48. The firm’s fifty day moving average is $7.23 and its two-hundred day moving average is $7.64. The stock has a market cap of $2.52 billion, a PE ratio of -8.44, a price-to-earnings-growth ratio of 1.14 and a beta of 0.89.

Newell Brands (NASDAQ:NWL) last announced its earnings results on Friday, April 26th. The company reported ($0.07) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.07). Newell Brands had a negative net margin of 3.70% and a positive return on equity of 11.21%. The company had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter in the previous year, the company posted ($0.06) EPS. The firm’s quarterly revenue was down 5.8% on a year-over-year basis. Research analysts forecast that Newell Brands will post 0.6 earnings per share for the current fiscal year.

Institutional Trading of Newell Brands

A number of institutional investors and hedge funds have recently bought and sold shares of the business. State of New Jersey Common Pension Fund D increased its stake in shares of Newell Brands by 39.8% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 329,711 shares of the company’s stock worth $2,862,000 after buying an additional 93,791 shares during the period. Public Sector Pension Investment Board increased its stake in shares of Newell Brands by 1,213.6% during the third quarter. Public Sector Pension Investment Board now owns 470,989 shares of the company’s stock worth $4,253,000 after buying an additional 435,133 shares during the period. Elm Ridge Management LLC increased its stake in shares of Newell Brands by 9.0% during the fourth quarter. Elm Ridge Management LLC now owns 111,717 shares of the company’s stock worth $970,000 after buying an additional 9,179 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Newell Brands by 88,271.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 162,604 shares of the company’s stock worth $1,411,000 after buying an additional 162,420 shares during the period. Finally, ARGA Investment Management LP increased its stake in shares of Newell Brands by 30.6% during the first quarter. ARGA Investment Management LP now owns 687,707 shares of the company’s stock worth $5,522,000 after buying an additional 161,313 shares during the period. 92.50% of the stock is currently owned by hedge funds and other institutional investors.

About Newell Brands

Newell Brands Inc engages in the design, manufacture, sourcing, and distribution of consumer and commercial products worldwide. The company operates in three segments: Home and Commercial Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment provides commercial cleaning and maintenance solution products under the Rubbermaid, Rubbermaid Commercial Products, Mapa, and Spontex brands; closet and garage organization products; hygiene systems and material handling solutions; household products, such as kitchen appliances under the Crockpot, Mr.