Spectrum Brands Holdings, Inc. (NYSE:SPB) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) have been assigned an average rating of “Moderate Buy” from the eight brokerages that are presently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $101.88.

Several research firms have weighed in on SPB. Deutsche Bank Aktiengesellschaft boosted their price target 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. Wells Fargo & Company raised their price objective on Spectrum Brands from $87.00 to $90.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Canaccord Genuity Group reduced their price objective on shares of Spectrum Brands from $92.00 to $90.00 and set a “hold” rating for the company in a research note on Monday, July 1st. Finally, UBS Group upped their price target on Spectrum Brands from $111.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 9th.

Spectrum Brands Price Performance

Shares of NYSE SPB opened at $91.48 on Friday. Spectrum Brands has a fifty-two week low of $65.27 and a fifty-two week high of $96.74. The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of 25.84, a PEG ratio of 0.25 and a beta of 1.22. 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 business has a 50-day moving average of $91.80 and a 200-day moving average of $88.12.

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

Spectrum Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 24th. Stockholders of record on Tuesday, August 27th were paid a $0.42 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.84%. Spectrum Brands’s payout ratio is currently 47.46%.

Institutional Investors Weigh In On Spectrum Brands

Hedge funds have recently bought and sold shares of the stock. Fidelis Capital Partners LLC purchased a new stake in Spectrum Brands in the 1st quarter worth $27,000. Central Pacific Bank Trust Division purchased a new stake in Spectrum Brands during the 1st quarter worth approximately $30,000. Versant Capital Management Inc increased its position in shares of Spectrum Brands by 1,923.8% during the second quarter. Versant Capital Management Inc now owns 425 shares of the company’s stock worth $37,000 after purchasing an additional 404 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Spectrum Brands in the first quarter valued at about $42,000. Finally, Quarry LP grew its stake in Spectrum Brands by 375.0% during the 2nd quarter. Quarry LP now owns 570 shares of the company’s stock valued at $49,000 after acquiring an additional 450 shares in the last quarter.

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.