Stock Traders Purchase Large Volume of Call Options on Spectrum Brands (SPB)

Spectrum Brands Holdings, Inc. (NYSE:SPB) saw some unusual options trading on Thursday. Stock traders acquired 10,088 call options on the company. This is an increase of 1,705% compared to the typical daily volume of 559 call options.

Spectrum Brands (NYSE:SPB) opened at $114.21 on Friday. Spectrum Brands has a one year low of $98.11 and a one year high of $146.09. The company has a quick ratio of 0.75, a current ratio of 1.44 and a debt-to-equity ratio of 2.06. The stock has a market cap of $6,580.00, a P/E ratio of 21.04, a PEG ratio of 1.83 and a beta of 0.75.

Spectrum Brands (NYSE:SPB) last posted its earnings results on Thursday, November 16th. The company reported $1.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.12). Spectrum Brands had a net margin of 5.91% and a return on equity of 17.48%. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter last year, the firm posted $1.31 EPS. The business’s revenue was up 5.8% on a year-over-year basis. sell-side analysts forecast that Spectrum Brands will post 6.16 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 19th. Stockholders of record on Tuesday, November 28th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Monday, November 27th. Spectrum Brands’s dividend payout ratio (DPR) is currently 33.47%.

A number of equities research analysts have weighed in on SPB shares. Jefferies Group reaffirmed a “buy” rating and set a $142.00 price objective on shares of Spectrum Brands in a report on Thursday, November 16th. BMO Capital Markets set a $132.00 price objective on Spectrum Brands and gave the company a “buy” rating in a report on Friday, November 17th. Oppenheimer reaffirmed a “buy” rating and set a $167.00 price objective on shares of Spectrum Brands in a report on Monday, November 20th. KeyCorp set a $130.00 price objective on Spectrum Brands and gave the company a “buy” rating in a report on Monday, October 16th. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and set a $125.00 price objective (down from $147.00) on shares of Spectrum Brands in a report on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $137.25.

Several large investors have recently bought and sold shares of SPB. Daiwa Securities Group Inc. raised its stake in shares of Spectrum Brands by 33.3% in the second quarter. Daiwa Securities Group Inc. now owns 800 shares of the company’s stock valued at $100,000 after acquiring an additional 200 shares during the last quarter. Pacad Investment Ltd. bought a new position in shares of Spectrum Brands in the second quarter valued at approximately $113,000. Toronto Dominion Bank raised its stake in shares of Spectrum Brands by 244.3% in the third quarter. Toronto Dominion Bank now owns 1,119 shares of the company’s stock valued at $119,000 after acquiring an additional 794 shares during the last quarter. FNY Partners Fund LP bought a new position in shares of Spectrum Brands in the second quarter valued at approximately $187,000. Finally, SG Americas Securities LLC raised its stake in shares of Spectrum Brands by 50.6% in the second quarter. SG Americas Securities LLC now owns 1,586 shares of the company’s stock valued at $198,000 after acquiring an additional 533 shares during the last quarter. Institutional investors own 48.32% of the company’s stock.

WARNING: “Stock Traders Purchase Large Volume of Call Options on Spectrum Brands (SPB)” was first published by American Banking News and is the property of of American Banking News. If you are reading this article on another domain, it was illegally stolen and reposted in violation of US and international trademark & copyright legislation. The legal version of this article can be read at https://www.americanbankingnews.com/2017/12/03/stock-traders-purchase-large-volume-of-call-options-on-spectrum-brands-spb.html.

About Spectrum Brands

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.

Leave a Reply