Spectrum Brands Holdings, Inc. (NYSE:SPB) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) have been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $89.17.

A number of analysts have recently commented on SPB shares. Wells Fargo & Company cut their target price on shares of Spectrum Brands from $75.00 to $65.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. UBS Group boosted their target price on shares of Spectrum Brands from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. Canaccord Genuity Group raised shares of Spectrum Brands from a “hold” rating to a “buy” rating and boosted their target price for the stock from $94.00 to $102.00 in a research note on Friday, February 7th. Monness Crespi & Hardt cut their target price on shares of Spectrum Brands from $106.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Royal Bank of Canada cut their target price on shares of Spectrum Brands from $114.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, February 7th.

Spectrum Brands Stock Up 1.5%

SPB opened at $65.50 on Monday. Spectrum Brands has a fifty-two week low of $56.50 and a fifty-two week high of $96.62. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.53 and a current ratio of 2.40. The company has a fifty day moving average of $65.18 and a two-hundred day moving average of $78.40. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of 16.09, a PEG ratio of 1.70 and a beta of 1.00.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.67). The firm had revenue of $675.70 million during the quarter, compared to analysts’ expectations of $701.00 million. Spectrum Brands had a net margin of 4.01% and a return on equity of 6.44%. The firm’s quarterly revenue was down 6.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.62 EPS. On average, research analysts expect that Spectrum Brands will post 5.06 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Tuesday, May 27th will be given a dividend of $0.47 per share. The ex-dividend date is Tuesday, May 27th. This represents a $1.88 dividend on an annualized basis and a yield of 2.87%. Spectrum Brands’s payout ratio is presently 89.95%.

Insider Buying and Selling

In related news, CEO David M. Maura sold 5,180 shares of the business’s stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $63.77, for a total transaction of $330,328.60. Following the transaction, the chief executive officer now directly owns 718,427 shares in the company, valued at approximately $45,814,089.79. The trade was a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Spectrum Brands

Institutional investors and hedge funds have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC acquired a new position in Spectrum Brands in the 4th quarter valued at about $50,000. Versant Capital Management Inc boosted its holdings in Spectrum Brands by 101.7% in the 1st quarter. Versant Capital Management Inc now owns 970 shares of the company’s stock valued at $69,000 after purchasing an additional 489 shares during the last quarter. Blue Trust Inc. boosted its holdings in Spectrum Brands by 46.5% in the 4th quarter. Blue Trust Inc. now owns 1,182 shares of the company’s stock valued at $100,000 after purchasing an additional 375 shares during the last quarter. KBC Group NV boosted its holdings in Spectrum Brands by 46.3% in the 4th quarter. KBC Group NV now owns 1,233 shares of the company’s stock valued at $104,000 after purchasing an additional 390 shares during the last quarter. Finally, New York State Teachers Retirement System acquired a new position in Spectrum Brands in the 1st quarter valued at about $118,000.

About Spectrum Brands

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.