Spectrum Brands Holdings Inc. (NYSE:SPB) Receives $77.00 Consensus Price Target from Brokerages

Shares of Spectrum Brands Holdings Inc. (NYSE:SPB) have earned an average rating of “Moderate Buy” from the six analysts that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $77.00.

Several research firms have recently weighed in on SPB. Weiss Ratings reissued a “hold (c)” rating on shares of Spectrum Brands in a research note on Monday, December 22nd. Canaccord Genuity Group lifted their price target on Spectrum Brands from $75.00 to $84.00 and gave the stock a “buy” rating in a research note on Monday, November 17th. Wells Fargo & Company boosted their price objective on Spectrum Brands from $55.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, November 14th. Finally, Wall Street Zen upgraded shares of Spectrum Brands from a “sell” rating to a “hold” rating in a report on Tuesday, November 18th.

Spectrum Brands Price Performance

Shares of NYSE SPB opened at $60.13 on Tuesday. Spectrum Brands has a twelve month low of $49.99 and a twelve month high of $87.23. The company has a current ratio of 2.26, a quick ratio of 1.41 and a debt-to-equity ratio of 0.29. The firm has a 50-day moving average of $57.19 and a two-hundred day moving average of $55.53. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 15.18 and a beta of 0.73.

Spectrum Brands (NYSE:SPB) last released its earnings results on Thursday, November 13th. The company reported $2.61 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $1.84. The business had revenue of $733.50 million for the quarter, compared to the consensus estimate of $738.57 million. Spectrum Brands had a net margin of 3.56% and a return on equity of 7.29%. The business’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.97 EPS. As a group, analysts expect that Spectrum Brands will post 5.06 earnings per share for the current fiscal year.

Spectrum Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 9th. Shareholders of record on Monday, November 24th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.1%. The ex-dividend date was Monday, November 24th. Spectrum Brands’s payout ratio is presently 47.47%.

Institutional Trading of Spectrum Brands

Hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC raised its position in Spectrum Brands by 120.3% during the second quarter. GAMMA Investing LLC now owns 489 shares of the company’s stock valued at $26,000 after buying an additional 267 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in Spectrum Brands by 7,237.5% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 587 shares of the company’s stock valued at $31,000 after acquiring an additional 579 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Spectrum Brands in the 2nd quarter valued at about $41,000. SJS Investment Consulting Inc. purchased a new stake in shares of Spectrum Brands in the third quarter worth approximately $47,000. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Spectrum Brands during the third quarter worth approximately $49,000.

Spectrum Brands Company Profile

Spectrum Brands Holdings, Inc is a global consumer products company that develops and markets a diverse portfolio of branded household and personal care products. Organized into four principal business segments—Hardware & Home Improvement, Home & Garden, Pet, and Appliances & Personal Care—the company offers a broad range of items including security and plumbing solutions, small electric appliances, grooming tools, and pet care accessories. Its hardware division features well-known brands such as Kwikset, Baldwin and Pfister, while the home appliance segment is anchored by names like Russell Hobbs and Remington.