Spectrum Brands Holdings Sets New 52-Week High at $88.40 (SPB)
Spectrum Brands Holdings (NYSE:SPB) shares hit a new 52-week high during mid-day trading on Monday , AnalystRatings.Net reports. The company traded as high as $88.40 and last traded at $87.98, with a volume of 130,164 shares trading hands. The stock had previously closed at $86.77.
Several analysts have recently commented on the stock. Analysts at Barclays reiterated a “buy” rating on shares of Spectrum Brands Holdings in a research note on Thursday, July 31st. They now have a $92.00 price target on the stock, up previously from $90.00. Separately, analysts at Credit Suisse reiterated a “neutral” rating on shares of Spectrum Brands Holdings in a research note on Thursday, July 31st. They now have a $85.00 price target on the stock, up previously from $77.00. Finally, analysts at BMO Capital Markets raised their price target on shares of Spectrum Brands Holdings from $2.00 to $96.00 in a research note on Thursday, July 31st. They now have an “outperform” rating on the stock. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $91.00.
The stock has a 50-day moving average of $84.7 and a 200-day moving average of $79.27. The company has a market cap of $4.587 billion and a price-to-earnings ratio of 35.27.
Spectrum Brands Holdings (NYSE:SPB) last announced its earnings results on Wednesday, July 30th. The company reported $1.30 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.29 by $0.01. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter last year, the company posted $0.90 earnings per share. Spectrum Brands Holdings’s revenue was up 3.6% compared to the same quarter last year. On average, analysts predict that Spectrum Brands Holdings will post $4.25 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 16th. Shareholders of record on Tuesday, August 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 1.37%. The ex-dividend date of this dividend is Friday, August 15th.
In other Spectrum Brands Holdings news, CFO Anthony L. Genito sold 6,416 shares of the stock on the open market in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $87.03, for a total value of $558,384.48. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Spectrum Brands Holdings, Inc (NYSE:SPB) is a consumer products company.
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