Spectrum Brands (NYSE:SPB) PT Raised to $115.00

Spectrum Brands (NYSE:SPB) had its price target increased by analysts at Oppenheimer from $88.00 to $115.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s price objective indicates a potential upside of 21.55% from the company’s current price.

SPB has been the subject of a number of other research reports. Wells Fargo & Company increased their target price on shares of Spectrum Brands from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Friday, February 9th. Canaccord Genuity Group reissued a “hold” rating and issued a $86.00 price objective (up previously from $83.00) on shares of Spectrum Brands in a research report on Friday, February 9th. Royal Bank of Canada lifted their target price on shares of Spectrum Brands from $89.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, February 9th. Monness Crespi & Hardt increased their price target on Spectrum Brands from $98.00 to $106.00 and gave the company a “buy” rating in a report on Friday. Finally, Canaccord Genuity Group cut Spectrum Brands from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $83.00 to $86.00 in a research note on Friday, February 9th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $96.33.

Spectrum Brands Stock Up 11.9 %

Shares of SPB opened at $94.61 on Friday. Spectrum Brands has a fifty-two week low of $65.27 and a fifty-two week high of $95.27. The company’s fifty day moving average is $83.58 and its two-hundred day moving average is $79.58. The firm has a market cap of $2.86 billion, a PE ratio of 2.05, a price-to-earnings-growth ratio of 0.59 and a beta of 1.20. The company has a quick ratio of 2.75, a current ratio of 3.36 and a debt-to-equity ratio of 0.60.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.47. The firm had revenue of $692.20 million during the quarter, compared to the consensus estimate of $674.20 million. Spectrum Brands had a return on equity of 4.66% and a net margin of 63.89%. The firm’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.32) earnings per share. Analysts forecast that Spectrum Brands will post 3.79 earnings per share for the current year.

Institutional Trading of Spectrum Brands

Large investors have recently modified their holdings of the business. LSV Asset Management purchased a new position in Spectrum Brands in the fourth quarter valued at about $35,216,000. AQR Capital Management LLC raised its stake in shares of Spectrum Brands by 1,376.7% during the third quarter. AQR Capital Management LLC now owns 320,091 shares of the company’s stock valued at $25,079,000 after purchasing an additional 298,415 shares in the last quarter. Norges Bank bought a new position in shares of Spectrum Brands in the fourth quarter valued at approximately $20,652,000. Pzena Investment Management LLC lifted its holdings in shares of Spectrum Brands by 21.7% in the first quarter. Pzena Investment Management LLC now owns 1,315,483 shares of the company’s stock valued at $117,091,000 after buying an additional 234,784 shares during the period. Finally, Fuller & Thaler Asset Management Inc. acquired a new position in shares of Spectrum Brands in the 3rd quarter worth approximately $13,127,000.

Spectrum Brands Company Profile

Spectrum Brands Holdings, Inc operates as a branded consumer products and home essentials company in North America, Europe, the Middle East, Africa, and Asia-Pacific regions. It operates through three segments: Home and Personal Care; Global Pet Care; and Home and Garden. The Home and Personal Care segment provides home appliances under the Black & Decker, Russell Hobbs, George Foreman, PowerXL, Emeril Legasse, Copper Chef, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington brand.