Spectrum Brands (NYSE:SPB) Price Target Lowered to $90.00 at Canaccord Genuity Group

Spectrum Brands (NYSE:SPB) had its price objective trimmed by Canaccord Genuity Group from $92.00 to $90.00 in a report released on Monday morning, Benzinga reports. The brokerage currently has a hold rating on the stock.

A number of other brokerages have also recently issued reports on SPB. Deutsche Bank Aktiengesellschaft upped their target price on Spectrum Brands from $85.00 to $91.00 and gave the stock a hold rating in a research report on Friday, May 10th. Monness Crespi & Hardt upped their target price on Spectrum Brands from $98.00 to $106.00 and gave the stock a buy rating in a research report on Friday, May 10th. Oppenheimer increased their price objective on Spectrum Brands from $88.00 to $115.00 and gave the company an outperform rating in a research report on Friday, May 10th. Royal Bank of Canada reissued an outperform rating and issued a $114.00 price objective on shares of Spectrum Brands in a research report on Friday, June 7th. Finally, Wells Fargo & Company increased their price objective on Spectrum Brands from $85.00 to $95.00 and gave the company an equal weight rating in a research report on Friday, May 10th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $99.57.

Spectrum Brands Price Performance

Shares of NYSE SPB opened at $86.71 on Monday. Spectrum Brands has a twelve month low of $65.27 and a twelve month high of $96.74. The company has a current ratio of 3.73, a quick ratio of 3.05 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $2.53 billion, a price-to-earnings ratio of 1.76, a PEG ratio of 0.37 and a beta of 1.19. The firm has a 50-day moving average of $88.63 and a two-hundred day moving average of $84.07.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings data on Thursday, May 9th. The company reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $1.13. The firm had revenue of $718.50 million for the quarter, compared to the consensus estimate of $708.54 million. Spectrum Brands had a return on equity of 6.43% and a net margin of 68.11%. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.14) EPS. As a group, analysts expect that Spectrum Brands will post 4.68 earnings per share for the current fiscal year.

Spectrum Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Tuesday, May 28th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, May 24th. This represents a $1.68 annualized dividend and a dividend yield of 1.94%. Spectrum Brands’s dividend payout ratio is currently 3.40%.

Institutional Investors Weigh In On Spectrum Brands

Institutional investors and hedge funds have recently made changes to their positions in the stock. LSV Asset Management acquired a new stake in Spectrum Brands in the 4th quarter valued at $35,216,000. AQR Capital Management LLC grew its position in Spectrum Brands by 1,376.7% in the 3rd quarter. AQR Capital Management LLC now owns 320,091 shares of the company’s stock valued at $25,079,000 after purchasing an additional 298,415 shares during the period. Norges Bank acquired a new stake in Spectrum Brands in the 4th quarter valued at $20,652,000. Pzena Investment Management LLC grew its position in Spectrum Brands by 21.7% in the 1st quarter. Pzena Investment Management LLC now owns 1,315,483 shares of the company’s stock valued at $117,091,000 after purchasing an additional 234,784 shares during the period. Finally, Confluence Investment Management LLC acquired a new stake in Spectrum Brands in the 1st quarter valued at $12,814,000.

About Spectrum Brands

Spectrum Brands Holdings, Inc operates as a branded consumer products and home essentials company in North America, Europe, the Middle East, Africa, and Asia-Pacific regions. It operates through three segments: Home and Personal Care; Global Pet Care; and Home and Garden. The Home and Personal Care segment provides home appliances under the Black & Decker, Russell Hobbs, George Foreman, PowerXL, Emeril Legasse, Copper Chef, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington brand.