Spectrum Brands’ (SPB) “Buy” Rating Reiterated at Wells Fargo & Co

Spectrum Brands (NYSE:SPB)‘s stock had its “buy” rating reiterated by Wells Fargo & Co in a research report issued on Thursday, February 8th. They currently have a $132.00 price target on the stock. Wells Fargo & Co’s target price indicates a potential upside of 28.17% from the company’s current price.

A number of other equities analysts also recently weighed in on the stock. Oppenheimer restated a “buy” rating and set a $167.00 target price on shares of Spectrum Brands in a report on Monday, November 20th. Canaccord Genuity restated a “buy” rating on shares of Spectrum Brands in a report on Wednesday, November 15th. UBS Group boosted their target price on shares of Spectrum Brands from $124.00 to $140.00 in a report on Tuesday, January 16th. Jefferies Group restated a “buy” rating and set a $143.00 target price on shares of Spectrum Brands in a report on Thursday, October 12th. Finally, BMO Capital Markets set a $132.00 target price on shares of Spectrum Brands and gave the stock a “buy” rating in a report on Friday, November 17th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $141.80.

Shares of Spectrum Brands (SPB) traded down $2.54 during mid-day trading on Thursday, hitting $102.99. 468,053 shares of the stock were exchanged, compared to its average volume of 775,831. The company has a debt-to-equity ratio of 2.01, a quick ratio of 2.19 and a current ratio of 2.70. The company has a market capitalization of $5,929.84, a price-to-earnings ratio of 22.13, a PEG ratio of 1.95 and a beta of 0.69. Spectrum Brands has a twelve month low of $98.11 and a twelve month high of $146.09.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.38 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.12. The business had revenue of $646.50 million for the quarter, compared to analyst estimates of $1.26 billion. Spectrum Brands had a net margin of 8.80% and a return on equity of 14.51%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.21 earnings per share. equities analysts predict that Spectrum Brands will post 4.19 EPS for the current year.

Several large investors have recently added to or reduced their stakes in SPB. Alliancebernstein L.P. increased its holdings in shares of Spectrum Brands by 19.9% in the second quarter. Alliancebernstein L.P. now owns 17,160 shares of the company’s stock valued at $2,146,000 after purchasing an additional 2,851 shares during the last quarter. Voya Investment Management LLC increased its holdings in shares of Spectrum Brands by 26.3% in the second quarter. Voya Investment Management LLC now owns 35,393 shares of the company’s stock valued at $4,425,000 after purchasing an additional 7,373 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of Spectrum Brands by 125.2% in the second quarter. Royal Bank of Canada now owns 24,106 shares of the company’s stock valued at $3,015,000 after purchasing an additional 13,404 shares during the last quarter. Macquarie Group Ltd. increased its holdings in shares of Spectrum Brands by 46,677.8% in the second quarter. Macquarie Group Ltd. now owns 8,420 shares of the company’s stock valued at $1,052,000 after purchasing an additional 8,402 shares during the last quarter. Finally, Janus Henderson Group PLC acquired a new position in shares of Spectrum Brands in the second quarter valued at $12,046,000. Hedge funds and other institutional investors own 47.27% of the company’s stock.

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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.

Analyst Recommendations for Spectrum Brands (NYSE:SPB)

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