Spectrum Brands (NYSE:SPB) Price Target Raised to $62.00 at Wells Fargo & Company

Spectrum Brands (NYSE:SPB) had its target price lifted by equities research analysts at Wells Fargo & Company from $55.00 to $62.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 8.43% from the stock’s previous close.

SPB has been the topic of a number of other reports. Weiss Ratings restated a “hold (c-)” rating on shares of Spectrum Brands in a report on Wednesday, October 8th. Royal Bank Of Canada set a $75.00 price objective on shares of Spectrum Brands and gave the stock an “outperform” rating in a research note on Monday, August 11th. Canaccord Genuity Group dropped their target price on shares of Spectrum Brands from $77.00 to $75.00 and set a “buy” rating on the stock in a report on Friday, August 8th. Finally, Wall Street Zen cut Spectrum Brands from a “hold” rating to a “sell” rating in a report on Monday. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $75.20.

Spectrum Brands Stock Down 2.1%

Shares of SPB stock traded down $1.23 during trading on Friday, reaching $57.18. The company’s stock had a trading volume of 191,479 shares, compared to its average volume of 495,527. Spectrum Brands has a one year low of $49.99 and a one year high of $96.62. The business has a fifty day moving average price of $53.69 and a 200-day moving average price of $56.01. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 21.35 and a beta of 0.82. The company has a quick ratio of 1.50, a current ratio of 2.42 and a debt-to-equity ratio of 0.35.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings results on Thursday, November 13th. The company reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $1.84. The firm had revenue of $733.50 million for the quarter, compared to analyst estimates of $738.57 million. Spectrum Brands had a net margin of 2.56% and a return on equity of 5.27%. The company’s revenue was down 5.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.97 EPS. Analysts anticipate that Spectrum Brands will post 5.06 earnings per share for the current year.

Institutional Trading of Spectrum Brands

A number of institutional investors have recently bought and sold shares of SPB. Bridgeway Capital Management LLC increased its holdings in shares of Spectrum Brands by 3.0% during the third quarter. Bridgeway Capital Management LLC now owns 142,197 shares of the company’s stock worth $7,470,000 after purchasing an additional 4,145 shares during the period. Callodine Capital Management LP grew its position in Spectrum Brands by 26.7% during the third quarter. Callodine Capital Management LP now owns 1,714,955 shares of the company’s stock worth $90,087,000 after buying an additional 360,898 shares in the last quarter. Landscape Capital Management L.L.C. bought a new position in Spectrum Brands during the 3rd quarter worth $653,000. Certuity LLC acquired a new position in Spectrum Brands in the 3rd quarter valued at $301,000. Finally, Quadrant Capital Group LLC bought a new stake in shares of Spectrum Brands during the 3rd quarter valued at $152,000.

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.