Spectrum Brands (NYSE:SPB) Rating Lowered to Hold at Wall Street Zen

Spectrum Brands (NYSE:SPB) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Sunday.

Other analysts have also recently issued research reports about the stock. Canaccord Genuity Group decreased their price target on shares of Spectrum Brands from $100.00 to $99.00 and set a “buy” rating on the stock in a research note on Wednesday. Weiss Ratings upgraded Spectrum Brands from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, April 24th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $81.00 target price on shares of Spectrum Brands in a report on Friday, May 8th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Spectrum Brands has a consensus rating of “Moderate Buy” and a consensus target price of $86.00.

Spectrum Brands Trading Down 0.3%

NYSE:SPB opened at $83.75 on Friday. The business has a fifty day moving average price of $80.75 and a 200-day moving average price of $72.75. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of 15.98, a price-to-earnings-growth ratio of 2.64 and a beta of 0.65. Spectrum Brands has a one year low of $49.99 and a one year high of $86.96. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.29 and a quick ratio of 1.42.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings data on Thursday, May 7th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.04 by $0.21. Spectrum Brands had a return on equity of 8.23% and a net margin of 4.47%.The business had revenue of $708.90 million for the quarter, compared to the consensus estimate of $676.45 million. During the same period in the previous year, the business earned $0.68 earnings per share. The business’s revenue was up 4.9% on a year-over-year basis. Sell-side analysts forecast that Spectrum Brands will post 5.32 EPS for the current year.

Insiders Place Their Bets

In other news, CEO David M. Maura bought 2,500 shares of Spectrum Brands stock in a transaction dated Wednesday, May 20th. The shares were acquired at an average price of $72.85 per share, with a total value of $182,125.00. Following the completion of the purchase, the chief executive officer owned 790,708 shares in the company, valued at $57,603,077.80. The trade was a 0.32% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Spectrum Brands

Large investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its holdings in Spectrum Brands by 374,119.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,196,666 shares of the company’s stock valued at $129,779,000 after purchasing an additional 2,196,079 shares during the last quarter. Callodine Capital Management LP lifted its stake in Spectrum Brands by 26.7% in the third quarter. Callodine Capital Management LP now owns 1,714,955 shares of the company’s stock worth $90,087,000 after purchasing an additional 360,898 shares during the last quarter. Balyasny Asset Management L.P. purchased a new stake in shares of Spectrum Brands during the second quarter valued at $15,409,000. American Century Companies Inc. boosted its position in Spectrum Brands by 14.5% in the 3rd quarter. American Century Companies Inc. now owns 2,052,850 shares of the company’s stock valued at $107,836,000 after buying an additional 260,085 shares during the period. Finally, Qube Research & Technologies Ltd grew its stake in Spectrum Brands by 71.2% in the second quarter. Qube Research & Technologies Ltd now owns 539,728 shares of the company’s stock worth $28,606,000 after purchasing an additional 224,481 shares in the last quarter.

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.