Spectrum Brands Holdings Inc. (NYSE:SPB) Given Average Recommendation of “Moderate Buy” by Analysts

Spectrum Brands Holdings Inc. (NYSE:SPB) has been given an average rating of “Moderate Buy” by the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $83.00.

A number of research firms have commented on SPB. Wells Fargo & Company lifted their target price on Spectrum Brands from $62.00 to $80.00 and gave the stock an “equal weight” rating in a report on Friday, February 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Spectrum Brands in a research report on Monday, December 29th. Wall Street Zen upgraded Spectrum Brands from a “sell” rating to a “hold” rating in a report on Tuesday, November 18th. Royal Bank Of Canada set a $85.00 target price on shares of Spectrum Brands in a research note on Friday. Finally, Oppenheimer raised their price target on shares of Spectrum Brands from $75.00 to $85.00 and gave the company an “outperform” rating in a report on Friday.

Spectrum Brands Stock Up 0.5%

NYSE:SPB opened at $74.52 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.38 and a current ratio of 2.21. The firm has a market cap of $1.73 billion, a P/E ratio of 17.21, a P/E/G ratio of 2.50 and a beta of 0.68. Spectrum Brands has a fifty-two week low of $49.99 and a fifty-two week high of $80.28. The firm has a 50-day simple moving average of $62.83 and a two-hundred day simple moving average of $57.67.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings results on Thursday, February 5th. The company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.63. Spectrum Brands had a net margin of 3.76% and a return on equity of 7.65%. The firm had revenue of $677.00 million for the quarter, compared to analysts’ expectations of $667.59 million. During the same quarter in the prior year, the company posted $1.02 earnings per share. The business’s revenue for the quarter was down 3.3% on a year-over-year basis. Analysts predict that Spectrum Brands will post 5.06 earnings per share for the current fiscal year.

Spectrum Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, February 17th. Spectrum Brands’s payout ratio is 43.42%.

Institutional Trading of Spectrum Brands

Several large investors have recently modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Spectrum Brands by 88.3% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 22,618 shares of the company’s stock valued at $1,188,000 after buying an additional 10,605 shares in the last quarter. Callodine Capital Management LP raised its stake in Spectrum Brands by 85.5% during the 2nd quarter. Callodine Capital Management LP now owns 1,354,057 shares of the company’s stock worth $71,765,000 after acquiring an additional 624,057 shares during the period. Assenagon Asset Management S.A. bought a new stake in Spectrum Brands during the 3rd quarter worth approximately $994,000. Rovida Advisors Inc. purchased a new position in Spectrum Brands during the second quarter valued at approximately $256,000. Finally, Janney Montgomery Scott LLC bought a new position in shares of Spectrum Brands in the second quarter worth approximately $807,000.

Spectrum Brands Company Profile

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.