Newell Brands (NASDAQ:NWL) Price Target Cut to $7.00 by Analysts at JPMorgan Chase & Co.

Newell Brands (NASDAQ:NWL) had its price objective reduced by JPMorgan Chase & Co. from $8.00 to $7.00 in a report released on Monday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

NWL has been the subject of several other research reports. Canaccord Genuity Group lowered their target price on shares of Newell Brands from $12.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, May 1st. UBS Group raised their target price on shares of Newell Brands from $5.00 to $5.50 and gave the stock a “neutral” rating in a report on Thursday, July 17th. Royal Bank Of Canada restated a “sector perform” rating and issued a $9.00 target price on shares of Newell Brands in a report on Monday, April 28th. Wells Fargo & Company raised their target price on shares of Newell Brands from $5.00 to $6.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 9th. Finally, Citigroup restated a “neutral” rating and issued a $6.00 target price (up previously from $5.00) on shares of Newell Brands in a report on Tuesday, July 15th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Newell Brands has an average rating of “Hold” and an average price target of $7.44.

Newell Brands Stock Performance

Shares of NASDAQ:NWL opened at $4.95 on Monday. Newell Brands has a 52 week low of $4.22 and a 52 week high of $11.78. The stock has a market capitalization of $2.07 billion, a P/E ratio of -8.39 and a beta of 0.96. The firm has a fifty day simple moving average of $5.57 and a two-hundred day simple moving average of $6.18. The company has a quick ratio of 0.57, a current ratio of 1.12 and a debt-to-equity ratio of 1.68.

Newell Brands (NASDAQ:NWL) last issued its quarterly earnings data on Friday, August 1st. The company reported $0.24 EPS for the quarter, hitting analysts’ consensus estimates of $0.24. Newell Brands had a negative net margin of 3.29% and a positive return on equity of 8.48%. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.95 billion. During the same period last year, the company posted $0.36 EPS. The business’s revenue was down 4.8% on a year-over-year basis. On average, analysts expect that Newell Brands will post 0.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Newell Brands

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Financial Sense Advisors Inc. purchased a new position in Newell Brands during the 1st quarter valued at about $10,187,000. Wealth Enhancement Advisory Services LLC increased its position in Newell Brands by 121.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 143,401 shares of the company’s stock valued at $889,000 after purchasing an additional 78,718 shares during the period. Principal Financial Group Inc. increased its position in Newell Brands by 2.4% during the 1st quarter. Principal Financial Group Inc. now owns 2,064,725 shares of the company’s stock valued at $12,801,000 after purchasing an additional 48,904 shares during the period. Russell Investments Group Ltd. increased its position in Newell Brands by 21.8% during the 4th quarter. Russell Investments Group Ltd. now owns 3,288,610 shares of the company’s stock valued at $32,755,000 after purchasing an additional 588,777 shares during the period. Finally, National Bank of Canada FI increased its position in Newell Brands by 8,655.2% during the 4th quarter. National Bank of Canada FI now owns 204,871 shares of the company’s stock valued at $2,041,000 after purchasing an additional 202,531 shares during the period. Institutional investors own 92.50% of the company’s stock.

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.