Spectrum Brands (NYSE:SPB) Earns “Outperform” Rating from Royal Bank Of Canada

Spectrum Brands (NYSE:SPB)‘s stock had its “outperform” rating reissued by equities research analysts at Royal Bank Of Canada in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $75.00 price objective on the stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 9.89% from the company’s previous close.

A number of other analysts have also commented on SPB. Wall Street Zen raised Spectrum Brands from a “sell” rating to a “hold” rating in a research note on Tuesday, November 18th. Wells Fargo & Company upped their target price on shares of Spectrum Brands from $55.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, November 14th. Canaccord Genuity Group raised their price target on shares of Spectrum Brands from $75.00 to $84.00 and gave the stock a “buy” rating in a research note on Monday, November 17th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Spectrum Brands in a research report on Monday, December 29th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.00.

Spectrum Brands Stock Up 1.9%

Shares of NYSE SPB opened at $68.25 on Tuesday. The firm’s 50-day moving average is $61.52 and its two-hundred day moving average is $57.22. The company has a market capitalization of $1.59 billion, a PE ratio of 17.23 and a beta of 0.68. Spectrum Brands has a 12-month low of $49.99 and a 12-month high of $83.50. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.26 and a quick ratio of 1.41.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings data on Thursday, November 13th. The company reported $2.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $1.84. The firm had revenue of $733.50 million during the quarter, compared to the consensus estimate of $738.57 million. Spectrum Brands had a return on equity of 7.29% and a net margin of 3.56%.The company’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.97 EPS. Equities analysts anticipate that Spectrum Brands will post 5.06 EPS for the current fiscal year.

Hedge Funds Weigh In On Spectrum Brands

A number of large investors have recently bought and sold shares of the stock. First Eagle Investment Management LLC grew its stake in shares of Spectrum Brands by 9.6% during the 4th quarter. First Eagle Investment Management LLC now owns 206,772 shares of the company’s stock valued at $12,216,000 after buying an additional 18,100 shares during the period. Manning & Napier Advisors LLC boosted its holdings in Spectrum Brands by 9.1% in the fourth quarter. Manning & Napier Advisors LLC now owns 300,000 shares of the company’s stock valued at $17,724,000 after acquiring an additional 25,000 shares during the last quarter. Crestwood Advisors Group LLC acquired a new position in Spectrum Brands in the fourth quarter valued at $264,000. Sequoia Financial Advisors LLC purchased a new stake in Spectrum Brands during the fourth quarter valued at about $239,000. Finally, New York State Teachers Retirement System acquired a new stake in Spectrum Brands during the fourth quarter worth about $129,000.

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.