Spectrum Brands (NYSE:SPB) PT Set at $77.00 by Canaccord Genuity Group

Spectrum Brands (NYSE:SPB) has been given a $77.00 price objective by equities research analysts at Canaccord Genuity Group in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 44.32% from the stock’s current price.

Other analysts also recently issued reports about the company. Wells Fargo & Company cut their target price on Spectrum Brands from $75.00 to $65.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Monness Crespi & Hardt dropped their price objective on shares of Spectrum Brands from $106.00 to $86.00 and set a “buy” rating for the company in a report on Wednesday, May 14th. Finally, UBS Group raised their price objective on shares of Spectrum Brands from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Spectrum Brands presently has a consensus rating of “Moderate Buy” and an average target price of $85.00.

Spectrum Brands Price Performance

Shares of NYSE SPB opened at $53.35 on Wednesday. The firm has a 50-day simple moving average of $58.97 and a 200-day simple moving average of $71.42. The company has a quick ratio of 1.40, a current ratio of 2.34 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 25.53 and a beta of 0.93. Spectrum Brands has a 52 week low of $50.73 and a 52 week high of $96.62.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.67). The business had revenue of $675.70 million during the quarter, compared to analyst estimates of $701.00 million. Spectrum Brands had a net margin of 2.02% and a return on equity of 5.20%. The firm’s revenue was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.62 EPS. On average, equities analysts predict that Spectrum Brands will post 5.06 earnings per share for the current fiscal year.

Insider Transactions at Spectrum Brands

In other news, CEO David M. Maura sold 5,180 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $63.77, for a total value of $330,328.60. Following the sale, the chief executive officer now directly owns 718,427 shares of the company’s stock, valued at approximately $45,814,089.79. The trade was a 0.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Spectrum Brands

Hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC raised its holdings in shares of Spectrum Brands by 142.5% in the 1st quarter. AQR Capital Management LLC now owns 634,137 shares of the company’s stock valued at $44,592,000 after buying an additional 372,630 shares during the period. Callodine Capital Management LP boosted its stake in shares of Spectrum Brands by 38.4% in the first quarter. Callodine Capital Management LP now owns 730,000 shares of the company’s stock valued at $52,232,000 after purchasing an additional 202,500 shares during the period. Man Group plc boosted its position in Spectrum Brands by 160.5% in the 4th quarter. Man Group plc now owns 320,178 shares of the company’s stock valued at $27,052,000 after buying an additional 197,263 shares during the period. Wealthfront Advisers LLC acquired a new position in shares of Spectrum Brands in the fourth quarter worth $16,606,000. Finally, Two Sigma Advisers LP increased its position in shares of Spectrum Brands by 403.9% during the fourth quarter. Two Sigma Advisers LP now owns 233,800 shares of the company’s stock worth $19,754,000 after acquiring an additional 187,400 shares during the period.

About Spectrum Brands

Spectrum Brands Holdings, Inc operates as a branded consumer products and home essentials company in North America, Europe, the Middle East, Africa, and Asia-Pacific regions. It operates through three segments: Home and Personal Care; Global Pet Care; and Home and Garden. The Home and Personal Care segment provides home appliances under the Black & Decker, Russell Hobbs, George Foreman, PowerXL, Emeril Legasse, Copper Chef, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington brand.