Spectrum Brands Holdings Stock Rating Upgraded by TheStreet (SPB)
Spectrum Brands Holdings (NYSE:SPB) was upgraded by stock analysts at TheStreet from a “hold” rating to a “buy” rating in a report issued on Tuesday, ARN reports.
The analysts wrote, “Spectrum Brands Holdings (SPB) has been upgraded by TheStreet Ratings from hold to buy. The company’s strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, good cash flow from operations and expanding profit margins. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.”
Shares of Spectrum Brands Holdings (NYSE:SPB) traded up 0.92% on Tuesday, hitting $63.54. The stock had a trading volume of 54,375 shares. Spectrum Brands Holdings has a 52-week low of $38.80 and a 52-week high of $65.27. The stock has a 50-day moving average of $60.44 and a 200-day moving average of $58.0. The company’s market cap is $3.315 billion.
Spectrum Brands Holdings (NYSE:SPB) last released its earnings data on Tuesday, August 6th. The company reported $0.90 earnings per share (EPS) for the quarter, missing the 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 in the previous year, the company posted $0.78 earnings per share. The company’s revenue for the quarter was up 32.2% on a year-over-year basis. Analysts expect that Spectrum Brands Holdings will post $3.10 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Credit Suisse initiated coverage on shares of Spectrum Brands Holdings (NYSE:SPB) in a research note to investors on Thursday, September 5th. They set a “neutral” rating and a $68.00 price target on the stock. Separately, analysts at Monness Crespi & Hardt initiated coverage on shares of Spectrum Brands Holdings (NYSE:SPB) in a research note to investors on Tuesday, September 3rd. They set a “buy” rating and a $78.00 price target on the stock. Finally, 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.
Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $66.40.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 17th. Investors 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 1.59%. 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.
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