CIBC Reaffirms “Buy” Rating for Spectrum Brands (SPB)

CIBC reaffirmed their buy rating on shares of Spectrum Brands (NYSE:SPB) in a report published on Thursday morning. They currently have a $14.50 target price on the stock.

SPB has been the topic of a number of other research reports. Wells Fargo & Co lowered their price objective on Spectrum Brands from $70.00 to $50.00 and set a market perform rating on the stock in a research note on Tuesday, November 20th. Zacks Investment Research raised Spectrum Brands from a hold rating to a buy rating and set a $89.00 price target on the stock in a research note on Tuesday, September 25th. Monness Crespi & Hardt decreased their price target on Spectrum Brands from $103.00 to $64.00 and set a buy rating on the stock in a research note on Tuesday, November 20th. Raymond James reaffirmed a buy rating and issued a $15.00 price target on shares of Spectrum Brands in a research note on Monday, December 3rd. Finally, BMO Capital Markets decreased their price target on Spectrum Brands from $100.00 to $85.00 and set an outperform rating on the stock in a research note on Tuesday, November 20th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $78.32.

Shares of NYSE:SPB opened at $50.97 on Thursday. The company has a current ratio of 2.49, a quick ratio of 2.11 and a debt-to-equity ratio of 2.93. The company has a market capitalization of $2.72 billion, a PE ratio of 14.40, a PEG ratio of 1.15 and a beta of 1.56. Spectrum Brands has a 1 year low of $40.54 and a 1 year high of $119.94.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings results on Wednesday, November 21st. The company reported $0.79 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.08 by ($0.29). The firm had revenue of $787.80 million during the quarter, compared to analyst estimates of $803.72 million. Spectrum Brands had a negative return on equity of 2.43% and a net margin of 23.26%. The business’s revenue was up .0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.35 earnings per share. Research analysts anticipate that Spectrum Brands will post 3.49 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 18th. Investors of record on Tuesday, November 27th were issued a $0.42 dividend. The ex-dividend date of this dividend was Monday, November 26th. This represents a $1.68 annualized dividend and a dividend yield of 3.30%. Spectrum Brands’s dividend payout ratio is presently 47.46%.

Hedge funds have recently bought and sold shares of the stock. Seven Eight Capital LP purchased a new stake in Spectrum Brands during the 3rd quarter worth about $2,889,000. Bank of America Corp DE increased its holdings in shares of Spectrum Brands by 370.2% in the 2nd quarter. Bank of America Corp DE now owns 96,499 shares of the company’s stock valued at $7,877,000 after acquiring an additional 75,976 shares during the last quarter. California Public Employees Retirement System increased its holdings in shares of Spectrum Brands by 18.6% in the 2nd quarter. California Public Employees Retirement System now owns 61,848 shares of the company’s stock valued at $5,048,000 after acquiring an additional 9,694 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Spectrum Brands by 50.1% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 16,395 shares of the company’s stock valued at $878,000 after acquiring an additional 5,475 shares during the last quarter. Finally, Freestone Capital Holdings LLC purchased a new position in shares of Spectrum Brands in the 3rd quarter valued at about $499,000. Hedge funds and other institutional investors own 95.61% of the company’s stock.

Spectrum Brands Company Profile

Spectrum Brands Holdings, Inc, through its subsidiaries, operates as a branded consumer products company that manufactures, markets, and distributes branded consumer products. It supplies consumer batteries, residential locksets, residential builders' hardware, plumbing, shaving and grooming products, personal care products, small household appliances, specialty pet supplies, personal insect repellents, and auto care products, as well as lawn and garden, and home pest control products.

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Analyst Recommendations for Spectrum Brands (NYSE:SPB)

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