Spectrum Brands’ (SPB) Buy Rating Reiterated at Jefferies Group

Jefferies Group restated their buy rating on shares of Spectrum Brands (NYSE:SPB) in a research note released on Tuesday morning. Jefferies Group currently has a $145.00 price objective on the stock. Jefferies Group also issued estimates for Spectrum Brands’ Q3 2018 earnings at $2.17 EPS, Q4 2018 earnings at $1.23 EPS, FY2019 earnings at $6.78 EPS and FY2020 earnings at $7.78 EPS.

A number of other research firms have also weighed in on SPB. Wells Fargo & Co reaffirmed a buy rating on shares of Spectrum Brands in a research note on Wednesday, December 20th. BMO Capital Markets set a $132.00 price objective on shares of Spectrum Brands and gave the company a buy rating in a research note on Friday, November 17th. Oppenheimer reaffirmed a buy rating and issued a $167.00 price objective on shares of Spectrum Brands in a research note on Monday, November 20th. KeyCorp set a $130.00 price objective on shares of Spectrum Brands and gave the company a buy rating in a research note on Monday, October 16th. Finally, Gabelli raised shares of Spectrum Brands from a hold rating to a buy rating in a research note on Friday, November 17th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the stock. Spectrum Brands presently has an average rating of Buy and a consensus target price of $141.67.

Spectrum Brands (NYSE SPB) traded down $0.14 during trading hours on Tuesday, reaching $120.48. 408,638 shares of the company’s stock were exchanged, compared to its average volume of 491,386. The company has a debt-to-equity ratio of 2.06, a current ratio of 1.44 and a quick ratio of 0.75. The firm has a market capitalization of $6,950.86, a PE ratio of 23.90, a price-to-earnings-growth ratio of 1.81 and a beta of 0.76. Spectrum Brands has a 1-year low of $98.11 and a 1-year high of $146.09.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings data on Thursday, November 16th. The company reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.12). Spectrum Brands had a net margin of 5.91% and a return on equity of 17.48%. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period last year, the business posted $1.31 earnings per share. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. research analysts forecast that Spectrum Brands will post 6.14 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 19th. Investors of record on Tuesday, November 28th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend was Monday, November 27th. Spectrum Brands’s payout ratio is currently 33.33%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pacad Investment Ltd. bought a new position in shares of Spectrum Brands during the second quarter valued at about $113,000. Toronto Dominion Bank lifted its position in shares of Spectrum Brands by 244.3% during the third quarter. Toronto Dominion Bank now owns 1,119 shares of the company’s stock valued at $119,000 after purchasing an additional 794 shares in the last quarter. FNY Partners Fund LP bought a new position in shares of Spectrum Brands during the second quarter valued at about $187,000. SG Americas Securities LLC lifted its position in shares of Spectrum Brands by 50.6% during the second quarter. SG Americas Securities LLC now owns 1,586 shares of the company’s stock valued at $198,000 after purchasing an additional 533 shares in the last quarter. Finally, Stoneridge Investment Partners LLC bought a new position in shares of Spectrum Brands during the third quarter valued at about $214,000. 48.23% of the stock is currently owned by institutional investors.

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About Spectrum Brands

Spectrum Brands Holdings, Inc (SB Holdings) is a diversified global consumer products company. The Company manufactures, markets and/or distributes its products in approximately 160 countries in the North America (NA); Europe, the Middle East and Africa (EMEA); Latin America (LATAM), and Asia-Pacific (APAC) regions.

Analyst Recommendations for Spectrum Brands (NYSE:SPB)

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