Newell Brands (NASDAQ:NWL) Given New $28.00 Price Target at Raymond James

Newell Brands (NASDAQ:NWL – Get Rating) had its target price lowered by research analysts at Raymond James from $33.00 to $28.00 in a research note issued on Monday, Benzinga reports. The firm currently has a “strong-buy” rating on the stock. Raymond James’ price target would suggest a potential upside of 24.94% from the stock’s previous close.

A number of other brokerages also recently issued reports on NWL. TheStreet downgraded Newell Brands from a “b” rating to a “c+” rating in a research note on Friday, February 11th. JPMorgan Chase & Co. cut their target price on Newell Brands from $29.00 to $26.00 and set an “overweight” rating for the company in a research note on Wednesday, March 30th. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Newell Brands presently has a consensus rating of “Buy” and an average price target of $28.13.

NASDAQ NWL opened at $22.41 on Monday. The business has a fifty day moving average price of $22.92 and a 200 day moving average price of $22.80. Newell Brands has a one year low of $20.36 and a one year high of $30.10. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.68 and a current ratio of 1.28. The company has a market cap of $9.32 billion, a P/E ratio of 16.85 and a beta of 0.84.

Newell Brands (NASDAQ:NWL – Get Rating) last posted its quarterly earnings data on Friday, February 11th. The company reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.09. Newell Brands had a return on equity of 19.43% and a net margin of 5.40%. The firm had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.65 billion. During the same period in the prior year, the company earned $0.56 EPS. The firm’s revenue was up 4.3% compared to the same quarter last year. As a group, sell-side analysts predict that Newell Brands will post 1.9 EPS for the current fiscal year.

In other Newell Brands news, major shareholder Carl C. Icahn sold 10,634,184 shares of Newell Brands stock in a transaction that occurred on Monday, February 21st. The stock was sold at an average price of $25.86, for a total value of $274,999,998.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.00% of the company’s stock.

Several institutional investors have recently bought and sold shares of NWL. Amundi Pioneer Asset Management Inc. boosted its position in Newell Brands by 18.5% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 292,619 shares of the company’s stock worth $4,488,000 after purchasing an additional 45,706 shares in the last quarter. Vontobel Holding Ltd. boosted its position in Newell Brands by 20.4% during the third quarter. Vontobel Holding Ltd. now owns 12,230 shares of the company’s stock worth $271,000 after purchasing an additional 2,069 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in Newell Brands by 2.3% during the third quarter. Commonwealth Equity Services LLC now owns 213,325 shares of the company’s stock worth $4,723,000 after purchasing an additional 4,816 shares in the last quarter. GWM Advisors LLC boosted its position in Newell Brands by 14.0% during the third quarter. GWM Advisors LLC now owns 24,039 shares of the company’s stock worth $532,000 after purchasing an additional 2,947 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. boosted its position in Newell Brands by 50.0% during the third quarter. Hussman Strategic Advisors Inc. now owns 46,500 shares of the company’s stock worth $1,030,000 after purchasing an additional 15,500 shares in the last quarter. Hedge funds and other institutional investors own 89.97% of the company’s stock.

Newell Brands Company Profile (Get Rating)

Newell Brands Inc designs, manufactures, sources, and distributes consumer and commercial products worldwide. It operates in five segments: Commercial Solutions, Home Appliances, Home Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment provides commercial cleaning and maintenance solutions; closet and garage organization products; hygiene systems and material handling solutions; and home and security, and smoke and carbon monoxide alarms products under the BRK, First Alert, Mapa, Quickie, Rubbermaid, Rubbermaid Commercial Products, and Spontex brands.

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