Imperial Capital Increases Spectrum Brands Holdings Price Target to $85.00 (SPB)
Equities research analysts at Imperial Capital upped their price target on shares of Spectrum Brands Holdings (NYSE:SPB) from $80.00 to $85.00 in a research note issued to investors on Monday, Stock Ratings News reports. The firm currently has an “outperform” rating on the stock. Imperial Capital’s target price points to a potential upside of 12.96% from the stock’s previous close.
In other Spectrum Brands Holdings news, CEO David Lumley sold 10,000 shares of Spectrum Brands Holdings stock on the open market in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $68.55, for a total transaction of $685,500.00. Following the completion of the transaction, the chief executive officer now directly owns 138,832 shares of the company’s stock, valued at approximately $9,516,934. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Spectrum Brands Holdings (NYSE:SPB) opened at 75.25 on Monday. Spectrum Brands Holdings has a 52-week low of $51.02 and a 52-week high of $76.73. The stock’s 50-day moving average is $69.78 and its 200-day moving average is $65.34. The company has a market cap of $3.929 billion and a price-to-earnings ratio of 314.85.
Spectrum Brands Holdings (NYSE:SPB) last posted its quarterly earnings results on Wednesday, January 29th. The company reported $1.09 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.99 by $0.10. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the company posted $0.72 earnings per share. Spectrum Brands Holdings’s revenue was up 26.5% compared to the same quarter last year. On average, analysts predict that Spectrum Brands Holdings will post $4.27 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, March 18th. Shareholders of record on Wednesday, February 19th will be given a dividend of 0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Spectrum Brands Holdings’s previous quarterly dividend of $0.25.
Other equities research analysts have also recently issued reports about the stock. Analysts at TheStreet downgraded shares of Spectrum Brands Holdings to a “hold” rating in a research note to investors on Friday, January 24th. Separately, analysts at Credit Suisse initiated coverage on shares of Spectrum Brands Holdings in a research note to investors on Monday, December 9th. They set a “neutral” rating and a $70.00 price target on the stock. Finally, analysts at Jefferies Group reiterated a “hold” rating on shares of Spectrum Brands Holdings in a research note to investors on Friday, November 22nd. They now have a $63.02 price target on the stock. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Spectrum Brands Holdings has an average rating of “Buy” and an average price target of $75.82.
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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