Spectrum Brands Holdings Inc. (NYSE:SPB) Receives Average Rating of “Hold” from Analysts

Shares of Spectrum Brands Holdings Inc. (NYSE:SPB) have earned an average rating of “Hold” from the seven brokerages that are covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $98.83.

Several equities research analysts have recently weighed in on SPB shares. Monness Crespi & Hardt increased their target price on shares of Spectrum Brands from $86.00 to $105.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Wall Street Zen raised Spectrum Brands from a “hold” rating to a “buy” rating in a research note on Saturday, September 5th. Oppenheimer increased their price objective on Spectrum Brands from $85.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th. Royal Bank Of Canada downgraded Spectrum Brands from an “outperform” rating to a “sector perform” rating and lifted their target price for the company from $85.00 to $92.00 in a research note on Monday, August 10th. Finally, Weiss Ratings lowered Spectrum Brands from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 11th.

Institutional Trading of Spectrum Brands

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Engineers Gate Manager LP purchased a new stake in Spectrum Brands during the second quarter worth about $1,949,000. Hsbc Holdings PLC boosted its stake in shares of Spectrum Brands by 41.4% during the 2nd quarter. Hsbc Holdings PLC now owns 61,157 shares of the company’s stock worth $5,208,000 after acquiring an additional 17,900 shares in the last quarter. PEAK6 LLC acquired a new stake in shares of Spectrum Brands in the 2nd quarter worth approximately $2,955,000. Manning & Napier Advisors LLC purchased a new position in Spectrum Brands in the 2nd quarter valued at approximately $26,496,000. Finally, Legal & General Group Plc purchased a new stake in Spectrum Brands during the second quarter worth $1,870,000.

Spectrum Brands Stock Down 0.1%

Shares of NYSE SPB opened at $79.47 on Friday. The stock has a market cap of $1.83 billion, a PE ratio of 24.23, a price-to-earnings-growth ratio of 2.51 and a beta of 0.78. The company has a quick ratio of 1.61, a current ratio of 2.41 and a debt-to-equity ratio of 0.33. Spectrum Brands has a 52-week low of $49.99 and a 52-week high of $99.06. The business has a 50-day moving average price of $87.25 and a 200 day moving average price of $83.07.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings results on Friday, August 7th. The company reported $2.79 EPS for the quarter, topping the consensus estimate of $1.46 by $1.33. Spectrum Brands had a return on equity of 10.06% and a net margin of 2.76%.The company had revenue of $753.30 million for the quarter, compared to analyst estimates of $732.19 million. During the same quarter in the previous year, the company posted $1.24 earnings per share. The firm’s revenue was up 7.7% compared to the same quarter last year. Equities research analysts forecast that Spectrum Brands will post 6.38 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 22nd. Shareholders of record on Tuesday, August 25th were given a dividend of $0.47 per share. The ex-dividend date was Tuesday, August 25th. This represents a $1.88 dividend on an annualized basis and a yield of 2.4%. Spectrum Brands’s dividend payout ratio is presently 57.32%.

Spectrum Brands Company Profile

Spectrum Brands Holdings, Inc is a global consumer products company headquartered in Middleton, Wisconsin. The company develops, markets and distributes branded products for use in homes, gardens and by pet owners, selling through mass retailers, e-commerce channels, specialty stores and other retail outlets in North America and international markets.

Spectrum Brands’ portfolio has historically included home and personal care products under brands such as Remington, Russell Hobbs, George Foreman and Black+Decker, as well as pet care products marketed under brands including Tetra, FURminator, Nature’s Miracle and 8-in-1.