Spectrum Brands (SPB) Upgraded by Zacks Investment Research to “Hold”

Spectrum Brands (NYSE:SPB) was upgraded by Zacks Investment Research from a “sell” 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. “

Other equities research analysts also recently issued reports about the company. Oppenheimer reaffirmed a “buy” rating and set a $167.00 price target on shares of Spectrum Brands in a research report on Monday, November 20th. Canaccord Genuity reaffirmed a “buy” rating on shares of Spectrum Brands in a research report on Wednesday, November 15th. UBS Group increased their price target on Spectrum Brands from $124.00 to $140.00 in a research report on Tuesday, January 16th. BMO Capital Markets set a $132.00 price target on Spectrum Brands and gave the stock a “buy” rating in a research report on Friday, November 17th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $143.00 price target on shares of Spectrum Brands in a research report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $142.50.

Spectrum Brands (NYSE SPB) traded up $1.13 during midday trading on Tuesday, hitting $124.75. The company had a trading volume of 434,793 shares, compared to its average volume of 733,573. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.75 and a current ratio of 1.44. Spectrum Brands has a 52-week low of $98.11 and a 52-week high of $146.09. The firm has a market cap of $6,992.35, a P/E ratio of 24.75, a price-to-earnings-growth ratio of 1.81 and a beta of 0.76.

Spectrum Brands (NYSE:SPB) last released its earnings results on Thursday, November 16th. The company reported $1.35 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $1.30 billion. During the same period in the previous year, the company earned $1.31 earnings per share. Spectrum Brands’s revenue was up 5.8% on a year-over-year basis. sell-side analysts predict that Spectrum Brands will post 6.15 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in SPB. JPMorgan Chase & Co. grew its position in shares of Spectrum Brands by 7.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,756,257 shares of the company’s stock valued at $184,511,000 after acquiring an additional 121,573 shares during the period. Bessemer Group Inc. grew its position in shares of Spectrum Brands by 2.4% during the 3rd quarter. Bessemer Group Inc. now owns 1,074,169 shares of the company’s stock valued at $113,776,000 after acquiring an additional 25,670 shares during the period. Schroder Investment Management Group grew its position in shares of Spectrum Brands by 7.7% during the 3rd quarter. Schroder Investment Management Group now owns 875,847 shares of the company’s stock valued at $92,016,000 after acquiring an additional 62,944 shares during the period. Check Capital Management Inc. CA grew its position in shares of Spectrum Brands by 173.8% during the 3rd quarter. Check Capital Management Inc. CA now owns 759,562 shares of the company’s stock valued at $80,453,000 after acquiring an additional 482,162 shares during the period. Finally, State Street Corp grew its position in shares of Spectrum Brands by 2.6% during the 2nd quarter. State Street Corp now owns 569,855 shares of the company’s stock valued at $71,288,000 after acquiring an additional 14,196 shares during the period. 48.26% of the stock is currently owned by institutional investors.

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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.

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