Spectrum Brands Holdings, Inc. (NYSE:SPB) Rating Lowered to Strong Sell at BidaskClub
Spectrum Brands Holdings, Inc. (NYSE:SPB) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Saturday.
A number of other equities research analysts have also issued reports on SPB. Zacks Investment Research lowered shares of Spectrum Brands Holdings from a “hold” rating to a “sell” rating in a report on Saturday. Jefferies Group LLC reissued a “buy” rating and issued a $150.00 price target (down previously from $165.00) on shares of Spectrum Brands Holdings in a report on Thursday. Royal Bank Of Canada reissued a “buy” rating and issued a $160.00 price target on shares of Spectrum Brands Holdings in a report on Friday, April 21st. BMO Capital Markets set a $155.00 price target on shares of Spectrum Brands Holdings and gave the stock a “buy” rating in a report on Tuesday, May 2nd. Finally, Deutsche Bank AG cut their price target on shares of Spectrum Brands Holdings from $152.00 to $149.00 and set a “buy” rating on the stock in a report on Wednesday, May 3rd. Two research analysts have rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. Spectrum Brands Holdings has a consensus rating of “Buy” and an average price target of $149.50.
Spectrum Brands Holdings (NYSE SPB) traded up 0.14% during trading on Friday, reaching $123.66. 286,446 shares of the company traded hands. Spectrum Brands Holdings has a 12-month low of $113.95 and a 12-month high of $146.09. The firm has a market capitalization of $7.27 billion, a price-to-earnings ratio of 23.36 and a beta of 0.69. The firm’s 50 day moving average price is $131.08 and its 200 day moving average price is $132.30.
Spectrum Brands Holdings (NYSE:SPB) last announced its quarterly earnings results on Tuesday, May 2nd. The company reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by $0.07. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.22 billion. Spectrum Brands Holdings had a return on equity of 17.78% and a net margin of 6.31%. Spectrum Brands Holdings’s revenue was down 3.3% on a year-over-year basis. During the same period last year, the business earned $1.16 EPS. Equities research analysts expect that Spectrum Brands Holdings will post $5.85 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 13th. Stockholders of record on Tuesday, May 16th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Friday, May 12th. Spectrum Brands Holdings’s payout ratio is 31.70%.
TRADEMARK VIOLATION WARNING: “Spectrum Brands Holdings, Inc. (NYSE:SPB) Rating Lowered to Strong Sell at BidaskClub” was originally published by American Banking News and is the property of of American Banking News. If you are reading this news story on another site, it was stolen and republished in violation of US and international copyright & trademark laws. The correct version of this news story can be viewed at https://www.americanbankingnews.com/2017/07/08/spectrum-brands-holdings-inc-nysespb-rating-lowered-to-strong-sell-at-bidaskclub.html.
Several large investors have recently made changes to their positions in the stock. State Street Corp raised its stake in shares of Spectrum Brands Holdings by 40.9% in the fourth quarter. State Street Corp now owns 459,718 shares of the company’s stock worth $56,228,000 after buying an additional 133,357 shares during the last quarter. New York State Teachers Retirement System bought a new stake in shares of Spectrum Brands Holdings during the fourth quarter worth $269,000. Envestnet Asset Management Inc. raised its stake in shares of Spectrum Brands Holdings by 1.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,463 shares of the company’s stock worth $179,000 after buying an additional 21 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of Spectrum Brands Holdings during the fourth quarter worth $423,000. Finally, Numeric Investors LLC bought a new stake in shares of Spectrum Brands Holdings during the fourth quarter worth $306,000. 47.94% of the stock is currently owned by hedge funds and other institutional investors.
About Spectrum Brands Holdings
Spectrum Brands Holdings, Inc (SB Holdings) is a diversified global consumer products company. The Company manufactures, markets and/or distributes its products in approximately 160 countries in the North America (NA); Europe, the Middle East and Africa (EMEA); Latin America (LATAM), and Asia-Pacific (APAC) regions.
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.