Newell Brands (NYSE:NWL)‘s stock had its “buy” rating reaffirmed by equities research analysts at Barclays in a research note issued to investors on Wednesday, December 6th. They presently have a $35.00 price objective on the stock. Barclays’ price target indicates a potential upside of 13.27% from the company’s current price.
A number of other research analysts have also recently issued reports on the company. TheStreet cut Newell Brands from a “b-” rating to a “c+” rating in a research note on Tuesday, November 14th. BMO Capital Markets decreased their target price on Newell Brands from $45.00 to $32.00 and set a “market perform” rating for the company in a research note on Tuesday, November 7th. Forward View reissued a “buy” rating and issued a $35.00 target price on shares of Newell Brands in a research note on Sunday, November 5th. Citigroup decreased their target price on Newell Brands from $63.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, November 3rd. Finally, Morgan Stanley reduced their price objective on Newell Brands from $54.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $46.73.
Newell Brands (NWL) traded down $0.13 during trading hours on Wednesday, reaching $30.90. The company’s stock had a trading volume of 2,924,820 shares, compared to its average volume of 5,587,402. Newell Brands has a 1 year low of $27.45 and a 1 year high of $55.08. The company has a current ratio of 1.46, a quick ratio of 0.86 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $15,207.80, a PE ratio of 11.93, a price-to-earnings-growth ratio of 1.25 and a beta of 1.10.
Newell Brands declared that its Board of Directors has approved a stock repurchase plan on Tuesday, September 26th that authorizes the company to buyback $256.00 million in shares. This buyback authorization authorizes the company to purchase up to 1.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.
In related news, CEO Michael B. Polk purchased 7,000 shares of Newell Brands stock in a transaction that occurred on Monday, November 20th. The stock was purchased at an average cost of $28.22 per share, with a total value of $197,540.00. Following the completion of the transaction, the chief executive officer now owns 616,296 shares of the company’s stock, valued at approximately $17,391,873.12. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.97% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. BDO Wealth Advisors LLC acquired a new position in Newell Brands during the second quarter valued at approximately $107,000. Parkside Investments LLC bought a new stake in Newell Brands in the third quarter valued at approximately $107,000. Harfst & Associates Inc. raised its stake in Newell Brands by 14.4% in the second quarter. Harfst & Associates Inc. now owns 2,502 shares of the company’s stock valued at $134,000 after buying an additional 315 shares during the period. BB&T Investment Services Inc. bought a new stake in Newell Brands in the second quarter valued at approximately $143,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Newell Brands by 52.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,164 shares of the company’s stock valued at $169,000 after buying an additional 1,088 shares during the period. 94.30% of the stock is owned by hedge funds and other institutional investors.
ILLEGAL ACTIVITY WARNING: This article was reported by Week Herald and is the property of of Week Herald. If you are reading this article on another domain, it was copied illegally and republished in violation of United States and international trademark and copyright law. The correct version of this article can be read at https://weekherald.com/2017/12/30/newell-brands-nwl-given-buy-rating-at-barclays.html.
About Newell Brands
Newell Brands Inc is a marketer of consumer and commercial products. The Company’s segments include Writing, Home Solutions, Commercial Products, Baby & Parenting, Branded Consumables, Consumer Solutions, Outdoor Solutions and Process Solutions. Its products are marketed under a portfolio of brands, including Paper Mate, Sharpie, Dymo, Expo, Parker, Elmer’s, Coleman, Jostens, Marmot, Rawlings, Mr.
Receive News & Ratings for Newell Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newell Brands and related companies with MarketBeat.com's FREE daily email newsletter.