Newell Brands (NASDAQ:NWL) had its price objective boosted by analysts at Morgan Stanley from $18.00 to $23.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price target would suggest a potential downside of 5.62% from the stock’s previous close.
Several other brokerages have also recently weighed in on NWL. Bank of America upgraded Newell Brands from a “neutral” rating to a “buy” rating and lifted their price target for the company from $24.00 to $27.00 in a research report on Friday, January 8th. Deutsche Bank Aktiengesellschaft boosted their target price on Newell Brands from $17.00 to $18.00 and gave the stock a “hold” rating in a research report on Thursday, September 17th. Wells Fargo & Company initiated coverage on Newell Brands in a research report on Tuesday, December 8th. They set an “underweight” rating and a $18.00 target price for the company. ValuEngine cut Newell Brands from a “sell” rating to a “strong sell” rating in a research report on Wednesday, November 11th. Finally, BidaskClub cut Newell Brands from a “hold” rating to a “sell” rating in a research report on Friday, December 18th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $18.80.
Shares of NWL opened at $24.37 on Thursday. The firm has a market cap of $10.34 billion, a PE ratio of -93.73, a PEG ratio of 4.25 and a beta of 1.06. Newell Brands has a 1 year low of $10.44 and a 1 year high of $24.45. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.51 and a quick ratio of 0.96. The stock’s fifty day moving average price is $21.32 and its two-hundred day moving average price is $19.76.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pzena Investment Management LLC lifted its stake in shares of Newell Brands by 2.3% in the 3rd quarter. Pzena Investment Management LLC now owns 24,788,682 shares of the company’s stock valued at $425,374,000 after acquiring an additional 556,763 shares during the last quarter. State Street Corp raised its position in Newell Brands by 3.3% during the 3rd quarter. State Street Corp now owns 19,642,845 shares of the company’s stock valued at $337,071,000 after purchasing an additional 629,226 shares during the last quarter. JPMorgan Chase & Co. raised its position in Newell Brands by 1.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,694,187 shares of the company’s stock valued at $302,926,000 after purchasing an additional 300,788 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in Newell Brands by 20.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 12,588,906 shares of the company’s stock valued at $216,026,000 after purchasing an additional 2,146,722 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its position in Newell Brands by 7.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 7,325,638 shares of the company’s stock valued at $116,331,000 after purchasing an additional 505,831 shares during the last quarter. 83.96% of the stock is owned by institutional investors.
Newell Brands Company Profile
Newell Brands Inc designs, manufactures, sources, and distributes consumer and commercial products worldwide. The company operates through four segments: Appliances and Cookware, Food and Commercial, Home and Outdoor Living, and Learning and Development. The Appliances and Cookware segment offers household products, including kitchen appliances, gourmet cookware, bakeware, and cutlery under the Calphalon, Crock-Pot, Mr.
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