Spectrum Brands (NYSE:SPB) Rating Increased to Buy at Wall Street Zen

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

SPB has been the topic of a number of other reports. Canaccord Genuity Group increased their price objective on shares of Spectrum Brands from $94.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Weiss Ratings raised shares of Spectrum Brands from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, April 24th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $86.20.

Spectrum Brands Trading Down 0.7%

NYSE SPB opened at $83.26 on Friday. Spectrum Brands has a 12 month low of $49.99 and a 12 month 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. The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of 15.89, a price-to-earnings-growth ratio of 2.63 and a beta of 0.65. The company’s fifty day moving average price is $80.00 and its two-hundred day moving average price is $71.89.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings data on Thursday, May 7th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.21. Spectrum Brands had a net margin of 4.47% and a return on equity of 8.23%. The firm had revenue of $708.90 million for the quarter, compared to the consensus estimate of $676.45 million. During the same period in the prior year, the firm posted $0.68 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year. As a group, research analysts predict that Spectrum Brands will post 5.32 earnings per share for the current fiscal year.

Insider Buying and Selling at Spectrum Brands

In other news, CEO David M. Maura acquired 2,500 shares of the company’s stock in a transaction that occurred on 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 acquisition, the chief executive officer directly owned 790,708 shares in the company, valued at approximately $57,603,077.80. The trade was a 0.32% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.90% of the stock is currently owned by company insiders.

Institutional Trading of Spectrum Brands

A number of large investors have recently modified their holdings of SPB. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Spectrum Brands by 374,119.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,196,666 shares of the company’s stock worth $129,779,000 after acquiring an additional 2,196,079 shares during the period. Pzena Investment Management LLC increased its holdings in shares of Spectrum Brands by 66.8% in the 3rd quarter. Pzena Investment Management LLC now owns 2,459,485 shares of the company’s stock worth $129,197,000 after acquiring an additional 985,034 shares during the period. Callodine Capital Management LP increased its holdings in shares of Spectrum Brands by 26.7% in the 3rd quarter. Callodine Capital Management LP now owns 1,714,955 shares of the company’s stock worth $90,087,000 after acquiring an additional 360,898 shares during the period. Balyasny Asset Management L.P. acquired a new stake in shares of Spectrum Brands in the 2nd quarter worth about $15,409,000. Finally, American Century Companies Inc. increased its holdings in shares of Spectrum Brands by 14.5% in the 3rd quarter. American Century Companies Inc. now owns 2,052,850 shares of the company’s stock worth $107,836,000 after acquiring an additional 260,085 shares during the period.

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.