Spectrum Brands (NYSE:SPB) Given New $110.00 Price Target at Canaccord Genuity Group

Spectrum Brands (NYSE:SPB) had its price target lifted by Canaccord Genuity Group from $99.00 to $110.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price points to a potential upside of 21.86% from the stock’s previous close.

SPB has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $81.00 target price on shares of Spectrum Brands in a research note on Friday, May 8th. Royal Bank Of Canada downgraded Spectrum Brands from an “outperform” rating to a “sector perform” rating and set a $92.00 price target on the stock. in a research note on Monday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Spectrum Brands in a report on Tuesday, July 21st. Wells Fargo & Company increased their price objective on Spectrum Brands from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 8th. Finally, Wall Street Zen downgraded Spectrum Brands from a “buy” rating to a “hold” rating in a report on Sunday, June 21st. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $90.60.

Spectrum Brands Stock Up 0.2%

Shares of NYSE:SPB opened at $90.27 on Monday. Spectrum Brands has a fifty-two week low of $49.99 and a fifty-two week high of $99.06. The company has a quick ratio of 1.42, a current ratio of 2.29 and a debt-to-equity ratio of 0.30. The firm’s 50-day simple moving average is $85.44 and its 200-day simple moving average is $79.33. The company has a market cap of $2.08 billion, a price-to-earnings ratio of 27.52, a PEG ratio of 2.83 and a beta of 0.63.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings results on Friday, August 7th. The company reported $2.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $1.33. The firm had revenue of $753.30 million during the quarter, compared to analysts’ expectations of $732.19 million. Spectrum Brands had a net margin of 2.76% and a return on equity of 9.99%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.24 earnings per share. As a group, equities research analysts predict that Spectrum Brands will post 5.32 earnings per share for the current year.

Insider Activity

In other news, CEO David M. Maura purchased 2,500 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were acquired at an average price of $72.85 per share, with a total value of $182,125.00. Following the purchase, the chief executive officer directly owned 790,708 shares of the company’s stock, valued at $57,603,077.80. The trade was a 0.32% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Spectrum Brands

Several hedge funds have recently bought and sold shares of the company. Global Retirement Partners LLC purchased a new stake in Spectrum Brands during the second quarter worth $27,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Spectrum Brands by 7,237.5% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 587 shares of the company’s stock worth $31,000 after buying an additional 579 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of Spectrum Brands by 96.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 630 shares of the company’s stock worth $37,000 after buying an additional 310 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of Spectrum Brands by 111.7% in the 4th quarter. Farther Finance Advisors LLC now owns 635 shares of the company’s stock worth $38,000 after buying an additional 335 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Spectrum Brands in the 2nd quarter worth about $41,000.

About Spectrum Brands

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.