Analysts Set Spectrum Brands Holdings, Inc. (NYSE:SPB) PT at $101.88

Spectrum Brands Holdings, Inc. (NYSE:SPB) has received a consensus rating of “Moderate Buy” from the eight ratings firms that are covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $101.88.

SPB has been the topic of several recent analyst reports. Canaccord Genuity Group reduced their price objective on shares of Spectrum Brands from $92.00 to $90.00 and set a “hold” rating on the stock in a research note on Monday, July 1st. Wells Fargo & Company lifted their price objective on shares of Spectrum Brands from $87.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. UBS Group lifted their price objective on shares of Spectrum Brands from $111.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Finally, Monness Crespi & Hardt lifted their price target on shares of Spectrum Brands from $98.00 to $106.00 and gave the company a “buy” rating in a research note on Friday, May 10th.

Institutional Trading of Spectrum Brands

A number of institutional investors have recently made changes to their positions in the business. Quarry LP lifted its position in shares of Spectrum Brands by 375.0% in the second quarter. Quarry LP now owns 570 shares of the company’s stock worth $49,000 after purchasing an additional 450 shares in the last quarter. Algert Global LLC acquired a new position in Spectrum Brands during the second quarter worth $9,670,000. Dark Forest Capital Management LP increased its holdings in Spectrum Brands by 57.2% during the second quarter. Dark Forest Capital Management LP now owns 34,628 shares of the company’s stock worth $2,976,000 after buying an additional 12,600 shares during the last quarter. Armistice Capital LLC increased its holdings in Spectrum Brands by 129.4% during the second quarter. Armistice Capital LLC now owns 439,377 shares of the company’s stock worth $37,756,000 after buying an additional 247,809 shares during the last quarter. Finally, Caxton Associates LP increased its holdings in Spectrum Brands by 336.6% during the second quarter. Caxton Associates LP now owns 38,832 shares of the company’s stock worth $3,337,000 after buying an additional 29,937 shares during the last quarter.

Spectrum Brands Stock Up 1.2 %

Shares of NYSE:SPB opened at $94.32 on Friday. Spectrum Brands has a one year low of $65.27 and a one year high of $96.74. The company has a 50 day moving average of $86.57 and a 200-day moving average of $86.13. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.28 and a quick ratio of 1.61. The stock has a market cap of $2.64 billion, a price-to-earnings ratio of 1.91, a P/E/G ratio of 0.34 and a beta of 1.19.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings data on Thursday, August 8th. The company reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.25). Spectrum Brands had a return on equity of 6.84% and a net margin of 3.86%. The firm had revenue of $779.40 million for the quarter, compared to the consensus estimate of $750.97 million. During the same period in the previous year, the business earned $0.75 EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. On average, sell-side analysts forecast that Spectrum Brands will post 4.78 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 24th. Stockholders of record on Tuesday, August 27th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date is Tuesday, August 27th. Spectrum Brands’s dividend payout ratio is presently 3.40%.

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.