Wall Street Zen Downgrades Spectrum Brands (NYSE:SPB) to Sell

Spectrum Brands (NYSE:SPB) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.

A number of other brokerages have also issued reports on SPB. Royal Bank Of Canada set a $75.00 price target on Spectrum Brands and gave the company an “outperform” rating in a research note on Monday, August 11th. Weiss Ratings restated a “hold (c-)” rating on shares of Spectrum Brands in a report on Wednesday, October 8th. Canaccord Genuity Group decreased their target price on Spectrum Brands from $77.00 to $75.00 and set a “buy” rating for the company in a research note on Friday, August 8th. Finally, Wells Fargo & Company dropped their price target on shares of Spectrum Brands from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 25th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.80.

Spectrum Brands Trading Down 3.8%

Shares of NYSE:SPB opened at $51.48 on Monday. Spectrum Brands has a twelve month low of $49.99 and a twelve month high of $96.62. The company has a current ratio of 2.42, a quick ratio of 1.50 and a debt-to-equity ratio of 0.35. The firm has a market cap of $1.25 billion, a P/E ratio of 19.21 and a beta of 0.82. The company has a 50 day moving average of $53.66 and a 200-day moving average of $56.01.

Institutional Investors Weigh In On Spectrum Brands

Several hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC increased its stake in Spectrum Brands by 120.3% in the 2nd quarter. GAMMA Investing LLC now owns 489 shares of the company’s stock worth $26,000 after purchasing an additional 267 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Spectrum Brands during the second quarter valued at about $41,000. SJS Investment Consulting Inc. acquired a new position in shares of Spectrum Brands in the third quarter worth about $47,000. State of Alaska Department of Revenue purchased a new position in shares of Spectrum Brands in the third quarter worth approximately $49,000. Finally, Blue Trust Inc. increased its position in shares of Spectrum Brands by 44.8% in the second quarter. Blue Trust Inc. now owns 1,060 shares of the company’s stock worth $56,000 after acquiring an additional 328 shares in the last quarter.

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.