Spectrum Brands (NYSE:SPB) Reaches New 12-Month High – Should You Buy?

Spectrum Brands Holdings Inc. (NYSE:SPB)’s share price reached a new 52-week high on Wednesday . The company traded as high as $85.49 and last traded at $82.5470, with a volume of 388141 shares traded. The stock had previously closed at $85.41.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Weiss Ratings restated a “hold (c)” rating on shares of Spectrum Brands in a research note on Friday, March 27th. Royal Bank Of Canada set a $85.00 price target on Spectrum Brands in a research note on Friday, February 6th. Wells Fargo & Company boosted their price target on Spectrum Brands from $62.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Friday, February 6th. Finally, Oppenheimer upped their price objective on shares of Spectrum Brands from $75.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, February 6th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $83.00.

Spectrum Brands Stock Up 1.2%

The business has a fifty day moving average price of $77.12 and a two-hundred day moving average price of $65.64. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.21 and a quick ratio of 1.38. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 19.50, a price-to-earnings-growth ratio of 2.81 and a beta of 0.63.

Spectrum Brands (NYSE:SPB) last released its earnings results on Thursday, February 5th. The company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.63. The firm had revenue of $677.00 million during the quarter, compared to the consensus estimate of $667.59 million. Spectrum Brands had a return on equity of 7.65% and a net margin of 3.76%.The company’s revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.02 earnings per share. On average, equities analysts expect that Spectrum Brands Holdings Inc. will post 4.9 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.2%. The ex-dividend date was Tuesday, February 17th. Spectrum Brands’s payout ratio is presently 43.42%.

Institutional Trading of Spectrum Brands

Hedge funds and other institutional investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. lifted its position in Spectrum Brands by 7,237.5% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 587 shares of the company’s stock valued at $31,000 after purchasing an additional 579 shares during the period. Nomura Asset Management Co. Ltd. boosted its holdings in Spectrum Brands by 96.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 630 shares of the company’s stock valued at $37,000 after purchasing an additional 310 shares during the last quarter. Farther Finance Advisors LLC grew its position in Spectrum Brands by 111.7% during the 4th quarter. Farther Finance Advisors LLC now owns 635 shares of the company’s stock worth $38,000 after purchasing an additional 335 shares during the period. Headlands Technologies LLC acquired a new stake in Spectrum Brands during the 2nd quarter worth about $41,000. Finally, SJS Investment Consulting Inc. purchased a new position in shares of Spectrum Brands during the 3rd quarter valued at about $47,000.

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.