Spectrum Brands Holdings Inc. (SPB) Downgraded to Hold at Zacks Investment Research
Spectrum Brands Holdings Inc. (NYSE:SPB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “Spectrum Brands, Inc. and its subsidiaries operate as a global branded consumer products company. The Company has three reportable segments: Global Batteries & Personal Care; Global Pet Supplies; and Home and Garden Business. Its operations include the manufacturing and marketing of alkaline, zinc carbon and hearing aid batteries, as well as aquariums and aquatic health supplies and the designing and marketing of rechargeable batteries, battery-powered lighting products, electric shavers and accessories, grooming products and hair care appliances. The Company also provides specialty pet supplies and also herbicides, insecticides and repellents. Its portfolio of brands are Rayovac(R), Remington(R), VARTA(R), Tetra(R), Marineland(R), Nature’s Miracle(R), Dingo(R), 8-in-1(R), Spectracide(R), Cutter(R), Repel(R), and HotShot(R) with manufacturing and product development facilities located in the U.S., Europe, Asia and Latin America. Spectrum Brands, Inc. is headquartered in Atlanta, Georgia. “
SPB has been the subject of several other research reports. Piper Jaffray Cos. assumed coverage on shares of Spectrum Brands Holdings in a report on Thursday, September 1st. They set an “overweight” rating and a $147.00 price target for the company. Deutsche Bank AG reissued a “buy” rating and set a $140.00 price target (up previously from $125.00) on shares of Spectrum Brands Holdings in a report on Sunday, July 24th. Monness Crespi & Hardt boosted their price target on shares of Spectrum Brands Holdings from $138.00 to $151.00 and gave the company a “buy” rating in a report on Thursday, September 29th. Finally, Jefferies Group reissued a “buy” rating and set a $143.00 price target on shares of Spectrum Brands Holdings in a report on Wednesday, June 22nd. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $142.33.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/11/spectrum-brands-holdings-inc-spb-downgraded-to-hold-at-zacks-investment-research.html
Shares of Spectrum Brands Holdings (NYSE:SPB) traded down 0.74% during midday trading on Tuesday, reaching $133.98. 70,637 shares of the company were exchanged. The firm’s 50 day moving average is $132.42 and its 200-day moving average is $121.32. Spectrum Brands Holdings has a 52-week low of $87.65 and a 52-week high of $138.95. The company has a market capitalization of $7.96 billion, a PE ratio of 27.22 and a beta of 0.65.
Spectrum Brands Holdings (NYSE:SPB) last released its quarterly earnings data on Thursday, July 28th. The company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.04. The firm earned $1.36 billion during the quarter, compared to the consensus estimate of $1.36 billion. Spectrum Brands Holdings had a net margin of 5.44% and a return on equity of 17.79%. The firm’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.42 earnings per share. On average, equities analysts forecast that Spectrum Brands Holdings will post $0.53 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 13th. Investors of record on Tuesday, August 16th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date was Friday, August 12th. Spectrum Brands Holdings’s dividend payout ratio is currently 32.69%.
In related news, SVP Stacey L. Neu sold 800 shares of Spectrum Brands Holdings stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $128.04, for a total transaction of $102,432.00. Following the sale, the senior vice president now directly owns 3,850 shares in the company, valued at $492,954. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider David M. Maura acquired 2,000 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The shares were bought at an average price of $127.47 per share, for a total transaction of $254,940.00. The disclosure for this purchase can be found here. Corporate insiders own 0.95% of the company’s stock.
Several large investors have recently modified their holdings of SPB. Monarch Partners Asset Management LLC boosted its stake in shares of Spectrum Brands Holdings by 257.3% in the second quarter. Monarch Partners Asset Management LLC now owns 138,604 shares of the company’s stock valued at $16,537,000 after buying an additional 99,815 shares during the period. Teacher Retirement System of Texas boosted its stake in shares of Spectrum Brands Holdings by 13.6% in the second quarter. Teacher Retirement System of Texas now owns 3,717 shares of the company’s stock valued at $443,000 after buying an additional 445 shares during the period. Credit Agricole S A boosted its stake in shares of Spectrum Brands Holdings by 542.6% in the first quarter. Credit Agricole S A now owns 393,711 shares of the company’s stock valued at $43,025,000 after buying an additional 332,446 shares during the period. Rothschild Asset Management Inc. acquired a new stake in shares of Spectrum Brands Holdings during the second quarter valued at approximately $395,000. Finally, Wesbanco Bank Inc. boosted its stake in shares of Spectrum Brands Holdings by 6.2% in the second quarter. Wesbanco Bank Inc. now owns 19,033 shares of the company’s stock valued at $2,271,000 after buying an additional 1,106 shares during the period. Institutional investors and hedge funds own 45.41% of the company’s stock.
Spectrum Brands Holdings Company Profile
Spectrum Brands Holdings, Inc (SBH) is a diversified consumer products company. The Company operates through five segments: Global Batteries & Appliances, Global Pet Supplies, Home and Garden, Hardware & Home Improvement, and Global Auto Care. The Company’s Global Batteries & Appliances segment includes consumer batteries, small appliances and personal care products.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Spectrum Brands Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spectrum Brands Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.