Spectrum Brands Holdings Inc. (NYSE:SPB) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Spectrum Brands Holdings Inc. (NYSE:SPB) have been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $77.00.

Several analysts have commented on SPB shares. Canaccord Genuity Group raised their target price on shares of Spectrum Brands from $75.00 to $84.00 and gave the stock a “buy” rating in a report on Monday, November 17th. Wall Street Zen upgraded shares of Spectrum Brands from a “sell” rating to a “hold” rating in a report on Tuesday, November 18th. Weiss Ratings restated a “hold (c)” rating on shares of Spectrum Brands in a report on Monday, December 15th. Finally, Wells Fargo & Company boosted their price objective on shares of Spectrum Brands from $55.00 to $62.00 and gave the company an “equal weight” rating in a research report on Friday, November 14th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SPB. Pzena Investment Management LLC raised its position in Spectrum Brands by 66.8% in the 3rd quarter. Pzena Investment Management LLC now owns 2,459,485 shares of the company’s stock valued at $129,197,000 after buying an additional 985,034 shares during the last quarter. American Century Companies Inc. boosted its position in Spectrum Brands by 14.5% during the 3rd quarter. American Century Companies Inc. now owns 2,052,850 shares of the company’s stock worth $107,836,000 after acquiring an additional 260,085 shares during the last quarter. Callodine Capital Management LP grew its stake in shares of Spectrum Brands by 26.7% during the 3rd quarter. Callodine Capital Management LP now owns 1,714,955 shares of the company’s stock worth $90,087,000 after acquiring an additional 360,898 shares in the last quarter. Armistice Capital LLC grew its stake in shares of Spectrum Brands by 20.0% during the 1st quarter. Armistice Capital LLC now owns 691,000 shares of the company’s stock worth $49,441,000 after acquiring an additional 115,143 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Spectrum Brands by 142.5% in the first quarter. AQR Capital Management LLC now owns 634,137 shares of the company’s stock valued at $44,592,000 after purchasing an additional 372,630 shares during the last quarter.

Spectrum Brands Stock Performance

Shares of Spectrum Brands stock opened at $60.49 on Tuesday. The stock’s fifty day simple moving average is $56.58 and its 200 day simple moving average is $55.41. The company has a current ratio of 2.26, a quick ratio of 1.41 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $1.41 billion, a PE ratio of 15.28 and a beta of 0.72. Spectrum Brands has a 12 month low of $49.99 and a 12 month high of $87.23.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings results on Thursday, November 13th. The company reported $2.61 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $1.84. Spectrum Brands had a return on equity of 7.29% and a net margin of 3.56%.The company had revenue of $733.50 million for the quarter, compared to analyst estimates of $738.57 million. During the same quarter last year, the firm posted $0.97 earnings per share. Spectrum Brands’s revenue was down 5.2% compared to the same quarter last year. On average, research analysts predict that Spectrum Brands will post 5.06 EPS for the current year.

Spectrum Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 9th. Shareholders of record on Monday, November 24th were paid a $0.47 dividend. The ex-dividend date of this dividend was Monday, November 24th. This represents a $1.88 annualized dividend and a dividend yield of 3.1%. Spectrum Brands’s dividend payout ratio (DPR) is currently 47.47%.

About Spectrum Brands

Spectrum Brands Holdings, Inc is a global consumer products company that develops and markets a diverse portfolio of branded household and personal care products. Organized into four principal business segments—Hardware & Home Improvement, Home & Garden, Pet, and Appliances & Personal Care—the company offers a broad range of items including security and plumbing solutions, small electric appliances, grooming tools, and pet care accessories. Its hardware division features well-known brands such as Kwikset, Baldwin and Pfister, while the home appliance segment is anchored by names like Russell Hobbs and Remington.