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

Shares of Spectrum Brands Holdings Inc. (NYSE:SPB) have received a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $83.00.

A number of research firms have recently commented on SPB. Oppenheimer increased their target price on Spectrum Brands from $75.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. Wells Fargo & Company lifted their price target on Spectrum Brands from $62.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Friday, February 6th. Wall Street Zen upgraded shares of Spectrum Brands from a “sell” rating to a “hold” rating in a research note on Tuesday, November 18th. Royal Bank Of Canada set a $85.00 price objective on shares of Spectrum Brands in a research report on Friday, February 6th. Finally, Canaccord Genuity Group lifted 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.

Spectrum Brands Stock Performance

Shares of SPB opened at $76.50 on Friday. The company has a quick ratio of 1.38, a current ratio of 2.21 and a debt-to-equity ratio of 0.29. The business’s 50 day moving average price is $69.22 and its 200-day moving average price is $60.40. Spectrum Brands has a 52 week low of $49.99 and a 52 week high of $80.42. The stock has a market cap of $1.77 billion, a P/E ratio of 17.67, a P/E/G ratio of 2.58 and a beta of 0.64.

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

Spectrum Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $1.88 annualized dividend and a dividend yield of 2.5%. Spectrum Brands’s dividend payout ratio (DPR) is 43.42%.

Hedge Funds Weigh In On Spectrum Brands

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. purchased a new position in shares of Spectrum Brands during the fourth quarter valued at approximately $6,242,000. Kera Capital Partners Inc. purchased a new stake in Spectrum Brands in the fourth quarter worth approximately $300,000. Invesco Ltd. boosted its holdings in Spectrum Brands by 34.9% in the fourth quarter. Invesco Ltd. now owns 76,529 shares of the company’s stock worth $4,521,000 after purchasing an additional 19,819 shares during the last quarter. Corient Private Wealth LLC grew its position in Spectrum Brands by 798.7% in the 4th quarter. Corient Private Wealth LLC now owns 35,425 shares of the company’s stock worth $2,093,000 after purchasing an additional 31,483 shares during the period. Finally, Mercer Global Advisors Inc. ADV raised its stake in Spectrum Brands by 53.4% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 16,434 shares of the company’s stock valued at $971,000 after buying an additional 5,724 shares during the last quarter.

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.