Royal Bank of Canada Raises Newell Brands (NASDAQ:NWL) Price Target to $9.50

Newell Brands (NASDAQ:NWL) had its price objective upped by equities research analysts at Royal Bank of Canada from $7.50 to $9.50 in a report issued on Monday, Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price would indicate a potential upside of 6.98% from the stock’s current price.

Several other equities analysts have also recently commented on the company. JPMorgan Chase & Co. reduced their target price on Newell Brands from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Monday, July 22nd. Canaccord Genuity Group increased their target price on Newell Brands from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Monday. Citigroup reduced their target price on Newell Brands from $8.00 to $6.25 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Wells Fargo & Company upped their price target on Newell Brands from $6.00 to $9.00 and gave the company an “equal weight” rating in a research report on Monday. Finally, Barclays raised 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. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Newell Brands has a consensus rating of “Hold” and an average price target of $8.82.

Newell Brands Stock Down 0.3 %

NASDAQ NWL traded down $0.03 during trading hours on Monday, hitting $8.88. The company had a trading volume of 3,180,106 shares, compared to its average volume of 4,868,605. Newell Brands has a fifty-two week low of $5.39 and a fifty-two week high of $11.61. The company has a market capitalization of $3.69 billion, a price-to-earnings ratio of -12.06, a P/E/G ratio of 1.61 and a beta of 0.89. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.98 and a quick ratio of 0.51. The firm’s 50 day moving average is $6.90 and its 200 day moving average is $7.47.

Newell Brands (NASDAQ:NWL) last released its quarterly earnings results on Friday, July 26th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.21 by $0.15. Newell Brands had a positive return on equity of 13.04% and a negative net margin of 3.43%. The business had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter in the previous year, the firm posted $0.24 earnings per share. The company’s revenue was down 7.8% compared to the same quarter last year. Sell-side analysts anticipate that Newell Brands will post 0.62 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Newell Brands

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Newell Brands by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 44,892,843 shares of the company’s stock worth $389,670,000 after buying an additional 739,295 shares during the period. Massachusetts Financial Services Co. MA increased its position in Newell Brands by 5.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 13,747,330 shares of the company’s stock worth $119,327,000 after buying an additional 660,347 shares during the period. Dimensional Fund Advisors LP increased its position in Newell Brands by 5.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,623,470 shares of the company’s stock worth $74,855,000 after buying an additional 434,762 shares during the period. Primecap Management Co. CA increased its position in Newell Brands by 35.1% in the fourth quarter. Primecap Management Co. CA now owns 8,511,972 shares of the company’s stock worth $73,884,000 after buying an additional 2,209,672 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Newell Brands by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,211,350 shares of the company’s stock valued at $36,555,000 after purchasing an additional 151,772 shares during the period. 92.50% of the stock is owned by institutional investors and hedge funds.

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.