Spectrum Brands Holdings Inc. (SPB) PT Raised to $160.00 at Jefferies Group
Spectrum Brands Holdings Inc. (NYSE:SPB) had its price objective lifted by investment analysts at Jefferies Group from $157.00 to $160.00 in a research report issued on Thursday. The brokerage presently has a “buy” rating on the stock. Jefferies Group’s price target suggests a potential upside of 19.86% from the stock’s previous close.
Other equities research analysts also recently issued reports about the company. Monness Crespi & Hardt upped their price objective on Spectrum Brands Holdings from $138.00 to $151.00 and gave the company a “buy” rating in a research report on Thursday, September 29th. Zacks Investment Research upgraded Spectrum Brands Holdings from a “hold” rating to a “buy” rating and set a $153.00 price objective on the stock in a research report on Thursday, September 29th. Deutsche Bank AG restated a “buy” rating and set a $140.00 price objective (up from $125.00) on shares of Spectrum Brands Holdings in a research report on Sunday, July 24th. Finally, Piper Jaffray Cos. started coverage on Spectrum Brands Holdings in a research report on Thursday, September 1st. They set an “overweight” rating and a $147.00 price objective on the stock. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $142.83.
Shares of Spectrum Brands Holdings (NYSE:SPB) traded down 0.206% during midday trading on Thursday, hitting $133.215. The stock had a trading volume of 59,105 shares. Spectrum Brands Holdings has a 52-week low of $87.65 and a 52-week high of $138.95. The company’s 50 day moving average is $132.58 and its 200 day moving average is $121.49. The company has a market cap of $7.91 billion, a PE ratio of 27.065 and a beta of 0.65.
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Spectrum Brands Holdings (NYSE:SPB) last issued its quarterly earnings data on Thursday, July 28th. The company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $0.04. Spectrum Brands Holdings had a return on equity of 17.79% and a net margin of 5.44%. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the prior year, the business posted $1.42 earnings per share. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, analysts anticipate that Spectrum Brands Holdings will post $0.53 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 13th. Investors of record on Tuesday, August 16th were paid a $0.38 dividend. The ex-dividend date of this dividend was Friday, August 12th. This represents a $1.52 annualized dividend and a yield of 1.14%. Spectrum Brands Holdings’s dividend payout ratio (DPR) is currently 32.69%.
In related news, SVP Stacey L. Neu sold 800 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $128.04, for a total value of $102,432.00. Following the transaction, the senior vice president now owns 3,850 shares of the company’s stock, valued at $492,954. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider David M. Maura acquired 2,000 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The stock was purchased 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. 0.95% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in SPB. Pitcairn Co. boosted its position in shares of Spectrum Brands Holdings by 1.3% in the second quarter. Pitcairn Co. now owns 3,075 shares of the company’s stock valued at $367,000 after buying an additional 40 shares during the period. Legal & General Group Plc boosted its stake in shares of 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 period. Paradigm Asset Management Co. LLC boosted its stake in shares of Spectrum Brands Holdings by 5.0% in the second quarter. Paradigm Asset Management Co. LLC now owns 2,100 shares of the company’s stock valued at $251,000 after buying an additional 100 shares during the period. BNP Paribas Arbitrage SA boosted its stake in shares of Spectrum Brands Holdings by 2.3% in the second quarter. BNP Paribas Arbitrage SA now owns 7,390 shares of the company’s stock valued at $882,000 after buying an additional 167 shares during the period. Finally, Genesee Valley Trust Co. boosted its stake in shares of 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 period. 45.41% of the stock is currently owned by 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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