Spectrum Brands Holdings Inc. (NYSE:SPB) Given Average Rating of “Hold” by Brokerages

Shares of Spectrum Brands Holdings Inc. (NYSE:SPB) have received a consensus rating of “Hold” from the seven ratings firms that are presently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $98.8333.

A number of research firms recently weighed in on SPB. Oppenheimer increased their price objective on Spectrum Brands from $85.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, August 10th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $96.00 price target on shares of Spectrum Brands in a research report on Monday, August 10th. Weiss Ratings cut Spectrum Brands from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Wall Street Zen upgraded Spectrum Brands from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Monness Crespi & Hardt lifted their price objective on Spectrum Brands from $86.00 to $105.00 and gave the stock a “buy” rating in a research note on Monday, August 10th.

Spectrum Brands Stock Up 0.2%

NYSE:SPB opened at $88.70 on Monday. Spectrum Brands has a one year low of $49.99 and a one year high of $99.06. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.41 and a quick ratio of 1.61. The company has a market cap of $2.04 billion, a PE ratio of 27.04, a P/E/G ratio of 2.79 and a beta of 0.65. The firm’s 50 day simple moving average is $87.60 and its 200 day simple moving average is $82.03.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings results on Friday, August 7th. The company reported $2.79 earnings per share (EPS) for the quarter, beating 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 10.06%. The company’s revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.24 EPS. On average, research analysts anticipate that Spectrum Brands will post 6.38 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Stockholders of record on Tuesday, August 25th will be given a $0.47 dividend. The ex-dividend date is Tuesday, August 25th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.1%. Spectrum Brands’s payout ratio is 57.32%.

Hedge Funds Weigh In On Spectrum Brands

Several hedge funds and other institutional investors have recently bought and sold shares of SPB. Pzena Investment Management LLC bought a new stake in Spectrum Brands during the second quarter valued at $207,584,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Spectrum Brands by 374,119.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,196,666 shares of the company’s stock valued at $129,779,000 after purchasing an additional 2,196,079 shares during the period. California State Teachers Retirement System lifted its stake in shares of Spectrum Brands by 8,295.6% in the 2nd quarter. California State Teachers Retirement System now owns 2,122,313 shares of the company’s stock valued at $181,988,000 after purchasing an additional 2,097,034 shares during the period. Callodine Capital Management LP boosted its position in shares of Spectrum Brands by 20.4% during the 4th quarter. Callodine Capital Management LP now owns 2,065,216 shares of the company’s stock valued at $122,013,000 after purchasing an additional 350,261 shares in the last quarter. Finally, BlackRock Inc. bought a new stake in shares of Spectrum Brands during the 2nd quarter valued at about $166,197,000.

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.