Spectrum Brands Holdings Coverage Initiated at Monness Crespi & Hardt (SPB)
Analysts at Monness Crespi & Hardt began coverage on shares of Spectrum Brands Holdings (NYSE:SPB) in a research report issued to clients and investors on Tuesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $78.00 price target on the stock. Monness Crespi & Hardt’s price objective would suggest a potential upside of 28.84% from the stock’s previous close.
The analysts wrote, “We are initiating coverage of Spectrum Brands Holdings. Inc. (SPB) with a Buy rating and $78 price target. We believe investors do not appreciate the company’s potential for cash flow generation and deleveraging over the next couple of years. The stock is currently trading at 7.6x our FY14 FCF per share estimate of $7.83, giving it a 13% FCF yield. The company’s strong portfolio of less discretionary, replacement products produces stable revenues and cash flow. The company’s Spectrum Value business model provides value to the consumer (same or better functionality at lower cost) and retailers (best margin in the category). We estimate Spectrum Brands can pay down $740 million of debt over the next two years, reducing its debt/EBITDA multiple from 4.8x to 3.4x.”
Shares of Spectrum Brands Holdings (NYSE:SPB) traded up 2.38% during mid-day trading on Tuesday, hitting $61.98. 53,283 shares of the company’s stock traded hands. Spectrum Brands Holdings has a 52-week low of $36.83 and a 52-week high of $65.27. The stock’s 50-day moving average is $59.77 and its 200-day moving average is $57.74. The company’s market cap is $3.234 billion.
Spectrum Brands Holdings (NYSE:SPB) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.90 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.07 by $0.17. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter last year, the company posted $0.78 earnings per share. Spectrum Brands Holdings’s revenue was up 32.2% compared to the same quarter last year. On average, analysts predict that Spectrum Brands Holdings will post $3.24 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on SPB. Analysts at Deutsche Bank raised their price target on shares of Spectrum Brands Holdings (NYSE:SPB) from $60.00 to $70.00 in a research note to investors on Thursday, August 8th. They now have a “buy” rating on the stock. Analysts at Imperial Capital raised their price target on shares of Spectrum Brands Holdings (NYSE:SPB) from $65.00 to $70.00 in a research note to investors on Thursday, August 8th. They now have an “outperform” rating on the stock.
Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $66.00.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 17th. Shareholders of record on Tuesday, August 20th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Friday, August 16th.
Spectrum Brands Holdings, Inc is a consumer products company. The Company manufactures and markets alkaline, zinc carbon and hearing aid batteries, herbicides, insecticides and repellants and specialty pet supplies.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.