Spectrum Brands Holdings Inc. (SPB) Price Target Increased to $160.00 by Analysts at Jefferies Group
Spectrum Brands Holdings Inc. (NYSE:SPB) had its price target boosted by equities research analysts at Jefferies Group from $157.00 to $160.00 in a research note issued on Thursday. The brokerage presently has a “buy” rating on the stock. Jefferies Group’s target price indicates a potential upside of 19.17% from the stock’s previous close.
Several other brokerages have also weighed in on SPB. Zacks Investment Research lowered Spectrum Brands Holdings from a “buy” rating to a “hold” rating in a report on Tuesday. Monness Crespi & Hardt upped their price objective on Spectrum Brands Holdings from $125.00 to $138.00 and gave the company a “buy” rating in a report on Friday, July 29th. Deutsche Bank AG restated a “buy” rating and issued a $140.00 price objective (up previously from $125.00) on shares of Spectrum Brands Holdings in a report on Sunday, July 24th. Finally, Piper Jaffray Cos. initiated coverage on Spectrum Brands Holdings in a report on Thursday, September 1st. They issued an “overweight” rating and a $147.00 price objective for the company. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $142.83.
Shares of Spectrum Brands Holdings (NYSE:SPB) traded up 0.58% during midday trading on Thursday, hitting $134.26. The company had a trading volume of 354,679 shares. Spectrum Brands Holdings has a 12 month low of $87.65 and a 12 month high of $138.95. The stock’s 50-day moving average price is $132.68 and its 200-day moving average price is $121.58. The company has a market cap of $7.98 billion, a price-to-earnings ratio of 27.28 and a beta of 0.65.
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Spectrum Brands Holdings (NYSE:SPB) last announced its quarterly earnings data on Thursday, July 28th. The company reported $1.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.69 by $0.04. The business earned $1.36 billion during the quarter, compared to analyst estimates of $1.36 billion. Spectrum Brands Holdings had a return on equity of 17.79% and a net margin of 5.44%. The company’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.42 earnings per share. On average, equities research analysts forecast that Spectrum Brands Holdings will post $0.53 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 13th. Investors of record on Tuesday, August 16th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend was Friday, August 12th. Spectrum Brands Holdings’s payout ratio is 32.69%.
In related news, SVP Stacey L. Neu sold 800 shares of the company’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $128.04, for a total transaction of $102,432.00. Following the transaction, the senior vice president now directly owns 3,850 shares of the company’s stock, valued at $492,954. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David M. Maura purchased 2,000 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The shares were acquired at an average cost 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.
A number of hedge funds and other institutional investors have recently bought and sold shares of SPB. GAM Holding AG acquired a new position in Spectrum Brands Holdings during the second quarter valued at $101,000. Fulton Bank N.A. acquired a new position in Spectrum Brands Holdings during the second quarter valued at $233,000. Royal Bank of Canada raised its position in Spectrum Brands Holdings by 272.1% in the first quarter. Royal Bank of Canada now owns 2,173 shares of the company’s stock valued at $238,000 after buying an additional 1,589 shares during the last quarter. Legal & General Group Plc raised its position in Spectrum Brands Holdings by 3.9% in the second quarter. Legal & General Group Plc now owns 2,033 shares of the company’s stock valued at $243,000 after buying an additional 77 shares during the last quarter. Finally, Genesee Valley Trust Co. raised its position in Spectrum Brands Holdings by 9.3% in the second quarter. Genesee Valley Trust Co. now owns 2,064 shares of the company’s stock valued at $246,000 after buying an additional 176 shares during the last quarter. 45.41% of the stock is currently owned by hedge funds and other institutional investors.
About Spectrum Brands Holdings
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.
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