Spectrum Brands (NYSE:SPB) Stock Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Spectrum Brands Holdings Inc. (NYSE:SPB)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $56.87 and traded as high as $65.50. Spectrum Brands shares last traded at $62.59, with a volume of 330,982 shares changing hands.

Analysts Set New Price Targets

SPB has been the subject of a number of recent analyst reports. Wells Fargo & Company increased their price target on shares of Spectrum Brands from $55.00 to $62.00 and gave the company an “equal weight” rating in a research note on Friday, November 14th. Wall Street Zen upgraded shares of Spectrum Brands from a “sell” rating to a “hold” rating in a research note on Tuesday, November 18th. Canaccord Genuity Group lifted their price target on Spectrum Brands from $75.00 to $84.00 and gave the stock a “buy” rating in a report on Monday, November 17th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Spectrum Brands in a research note on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $77.00.

Spectrum Brands Stock Performance

The company has a fifty day moving average of $60.72 and a two-hundred day moving average of $56.87. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 15.81 and a beta of 0.69. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.41 and a current ratio of 2.26.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings data on Thursday, November 13th. The company reported $2.61 earnings per share for the quarter, topping the consensus estimate of $0.77 by $1.84. The firm had revenue of $733.50 million for the quarter, compared to analysts’ expectations 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 quarter last year, the business earned $0.97 EPS. As a group, equities research analysts predict that Spectrum Brands Holdings Inc. will post 5.06 earnings per share for the current fiscal year.

Spectrum Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 9th. Shareholders of record on Monday, November 24th were issued a $0.47 dividend. The ex-dividend date of this dividend was Monday, November 24th. This represents a $1.88 dividend on an annualized basis and a yield of 3.0%. Spectrum Brands’s payout ratio is currently 47.47%.

Institutional Investors Weigh In On Spectrum Brands

Several institutional investors have recently made changes to their positions in the stock. Pzena Investment Management LLC grew its position in Spectrum Brands by 66.8% during the third quarter. Pzena Investment Management LLC now owns 2,459,485 shares of the company’s stock worth $129,197,000 after buying an additional 985,034 shares in the last quarter. Callodine Capital Management LP lifted its position in shares of Spectrum Brands by 85.5% during the 2nd quarter. Callodine Capital Management LP now owns 1,354,057 shares of the company’s stock valued at $71,765,000 after acquiring an additional 624,057 shares during the period. American Century Companies Inc. grew its holdings in shares of Spectrum Brands by 35.9% during the 2nd quarter. American Century Companies Inc. now owns 1,792,765 shares of the company’s stock worth $95,017,000 after purchasing an additional 473,345 shares in the last quarter. Norges Bank bought a new position in shares of Spectrum Brands in the second quarter worth $16,844,000. Finally, Balyasny Asset Management L.P. acquired a new position in Spectrum Brands in the second quarter valued at about $15,409,000.

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.