12 Best American Penny Stocks to Buy Right Now

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10. Newell Brands Inc. (NASDAQ:NWL)

Share Price: $3.11

Number of Hedge Fund Holders: 28

Newell Brands Inc. (NASDAQ:NWL) is one of the best American penny stocks to buy right now. On November 3, RBC Capital reduced its price target on Newell Brands Inc. (NASDAQ:NWL) from $8 to $4.50 and kept a Sector Perform rating. This followed the company’s Q3 results, which RBC Capital called “one of its more challenging results in recent history.”

The research firm noted that Newell Brands Inc. (NASDAQ:NWL) is running much better now than when it started its journey of recovery. However, RBC Capital still finds it difficult to be more optimistic about the stock as the company’s performance is being dictated by external factors.

On November 3, Canaccord Genuity also reduced its price target on Newell Brands Inc. (NASDAQ:NWL) from $9 to $7 and kept its Buy rating.

This decision came after the company reported weaker-than-expected results for the third quarter. Newell Brands Inc. (NASDAQ:NWL) reported sales 4% below market expectations. Gross profit came in 5% lower than consensus estimates while adjusted EBITDA was also 6% below market expectations.

Canaccord Genuity pointed out that their “patience is clearly being tested,” but they still believe there is “asymmetric upside” in Newell Brands Inc.’s (NASDAQ:NWL) shares. The research firm noted that “turnarounds do not happen in a straight line.”

Newell Brands Inc. (NASDAQ:NWL) is an American consumer goods company with a strong portfolio of brands such as Rubbermaid, Sharpie, Graco, Coleman, Rubbermaid Commercial Products, Yankee Candle, Paper Mate, FoodSaver, Dymo, EXPO, Elmer’s, Oster, NUK, Spontex, and Campingaz.

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