Spectrum Brands Holdings, Inc. (NYSE:SPB) Receives $102.38 Average Price Target from Analysts

Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) have earned an average recommendation of “Moderate Buy” from the eight analysts that are covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $102.13.

SPB has been the topic of several research analyst reports. Canaccord Genuity Group increased their price target on shares of Spectrum Brands from $91.00 to $94.00 and gave the company a “hold” rating in a research note on Monday, November 18th. Wells Fargo & Company reduced their price objective on Spectrum Brands from $92.00 to $88.00 and set an “equal weight” rating on the stock in a report on Tuesday.

Hedge Funds Weigh In On Spectrum Brands

Several hedge funds have recently added to or reduced their stakes in the stock. Citigroup Inc. increased its position in shares of Spectrum Brands by 15.9% in the 3rd quarter. Citigroup Inc. now owns 41,048 shares of the company’s stock valued at $3,905,000 after buying an additional 5,641 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Spectrum Brands in the second quarter worth about $3,119,000. Bank of Montreal Can raised its position in shares of Spectrum Brands by 2,542.3% during the second quarter. Bank of Montreal Can now owns 117,795 shares of the company’s stock worth $10,862,000 after purchasing an additional 113,337 shares during the period. Los Angeles Capital Management LLC bought a new position in shares of Spectrum Brands during the 2nd quarter valued at about $630,000. Finally, Everence Capital Management Inc. acquired a new position in shares of Spectrum Brands in the 4th quarter valued at approximately $553,000.

Spectrum Brands Trading Up 0.8 %

Shares of SPB opened at $84.62 on Tuesday. The stock has a fifty day moving average price of $89.43 and a two-hundred day moving average price of $89.09. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.62 and a current ratio of 2.30. The company has a market cap of $2.37 billion, a price-to-earnings ratio of 20.74, a PEG ratio of 1.58 and a beta of 1.20. Spectrum Brands has a 52-week low of $75.50 and a 52-week high of $96.74.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings results on Friday, November 15th. The company reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.16). The company had revenue of $773.70 million for the quarter, compared to analyst estimates of $747.80 million. Spectrum Brands had a return on equity of 6.16% and a net margin of 4.21%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the company earned $1.36 EPS. Analysts predict that Spectrum Brands will post 5.25 EPS for the current fiscal year.

Spectrum Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Tuesday, November 26th were paid a $0.47 dividend. The ex-dividend date was Tuesday, November 26th. This is a boost from Spectrum Brands’s previous quarterly dividend of $0.42. This represents a $1.88 dividend on an annualized basis and a yield of 2.22%. Spectrum Brands’s dividend payout ratio (DPR) is presently 46.08%.

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.